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A123 Systems and Wanxiang execute definitive agreements for investment of up to $465M in A123

Green Car Congress

US-based Li-ion battery manufacturer A123 Systems announced the execution of definitive agreements with China’s Wanxiang Group Corporation, which follows the non-binding memorandum of understanding (MOU) that A123 signed with Wanxiang on 8 August 2012. Earlier post.) — David Vieau, CEO of A123.

Convert 231
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What’s Going On With Saudi Arabia and the Petrodollar?

The Truth About Cars

On June 9th, Saudi Arabia decided against renewing a deal with the United States to continue trading oil in U.S. chose not to renew its 50-year petrodollar deal with the United States. Oil production would presumably continue at pace, with the United States technically capable of servicing its own energy needs.

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Constellium and UACJ plan JV in US to produce Body-in-White aluminium sheet for the automotive industry

Green Car Congress

a global aluminum products company formerly known as Alcan Engineered Products and headquartered in Amsterdam, and UACJ Corporation ( UACJ ), a Japan-based global aluminum manufacturer, are joining forces with a view to supply and market aluminum Body-in-White sheet to the North American automotive industry. Constellium N.V, billion (US$4.9

Industry 218
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Driving Dystopia: Pickup Sales Are Probably Going to Decline in the UK

The Truth About Cars

For corporate automobiles that also see private use, benefit-in-kind taxes are calculated as a perk on top of the base salary. One would expect to receive some kind of purchasing allowance calculated that’s then tied to income. But things aren’t quite as simple as that in the United Kingdom. Normal to my American eyes thus far.

Sale 101
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EV tax credit score rules will have to be adopted, Manchin tells Treasury

Baua Electric

“My comment is simple: Follow the law,” he wrote in an 11-page letter to Treasury, explaining that the tax credit score’s objective is “no longer to promote the purchase and use of [EVs] … but to promote reliable domestic supply chains for the critical minerals and battery components” had to energy them.

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Kinder Morgan to purchase El Paso for approximately $38B to form largest natural gas pipeline network and largest midstream energy enterprise in North America

Green Car Congress

(KMI) and El Paso Corporation on Sunday announced a definitive agreement whereby KMI will acquire all of the outstanding shares of EP in a transaction that will create the largest midstream and the fourth-largest energy company in North America with an enterprise value of approximately $94 billion and 80,000 miles of pipelines.

El Paso 225
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HKG becomes controlling shareholder of UQM Technologies with $48M investment

Green Car Congress

announced the signing of a definitive stock issuance and purchase agreement with American Compass, Inc., HKG is a Bermuda-incorporated corporation with headquarters in Hong Kong. The purchase price is $0.72 Electric propulsion system company UQM Technologies, Inc. per share, which represents a 6.4%