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Volkswagen Group will spend C$69 million ($48.1 million) on a 9.9% stake in lithium miner Patriot Battery Metals to secure raw materials for electric vehicles.

WASHINGTON — The Federal Reserve cut its key interest rate Dec. 18 by a quarter-point — its third cut this year — but also signaled that it expects to reduce rates more slowly next year.

XIAMEN, China — The world’s largest maker of batteries for electric vehicles said Dec. 18 it will get into battery swapping in China in a big way starting next year.

Ryder System promoted Chief Financial Officer John Diez to president and chief operating officer effective Jan. 1, the Miami-based company said.

Analysts are betting that further market-share gains and increased profit contributions from Walmart’s higher-margin ancillary businesses will extend the stock’s rally.

Housing starts decreased 1.8% to an annualized rate of 1.29 million, the slowest since July, according to government data released Dec. 18. The metric can help project the flatbed sector.

Ethanol makers and corn growers have fought for more than a decade to expand access to E15 amid fierce opposition from oil refining states. That opposition has eased some with the rise of EVs.

The action threatens to complicate Trump's vow to "terminate" EV mandates, keeping pressure on automakers to comply with California’s requirements, potentially for years to come.

The U.S. Department of Transportation awarded $139 million in SMART Program grants on Dec. 16 to 42 states for high-tech projects to improve efficiency and safety.