SF Motors announces $160M investment in former Hummer plant to produce all-electric SUVs
In an announcement made this week, electric vehicles start-up SF Motors said that the company is investing $160 million in the former Hummer manufacturing plant in Indiana, for the production of all-electric SUVs at the plant.
The announcement indicates that SF Motors -- a start-up backed by China’s Sokon -- is taking over the former Hummer plant, and will go ahead with its planned EV production at the manufacturing facility.
With SF Motors announcing an investment of $160 million in the former Hummer manufacturing plant, it is evident that the company’s investment in the plant will be notably much higher than the promised investment amount of $30 million which the company had assured while buying the manufacturing plant in 2017.
In announcing SF Motors’ $160 million investment in the former Hummer plant, the company’s Founder and CEO John Zhang said that the move marks SF Motors’ partnership with Indiana “to create up to 467 new jobs, supporting the greater Mishawaka and South Bend economy.”
Zhang also said that the investment will pave the way for SF Motors “to bring our cutting-edge vehicles to the highway by 2019,” and added the move will take the company “closer to carrying out our global mission – to transform human mobility through intelligent electric vehicles.”
In a recent announcement, San Francisco-based stealth electric car-charging startup called Ample has revealed that it has raised a substantial amount of $31 million in its Series A funding round.
In a recent announcement, South Korean automaker Hyundai Motor has revealed that its plans to launch a full range of electric vehicles (EVs) for the Indian market.
Tesla CEO Elon Musk has revealed that the automaker is planning to open-source its vehicle security software to other auto manufacturers, for free.
In an indication that Tesla’s Model S and Model X high-end electric luxury cars may soon be challenged by a potential competitor, Porsche has announced its first purely-electric sports car --- the ‘Taycan.’
A few weeks ahead of the scheduled unveiling of German automaker Mercedes-Benz’s upcoming EQC all-electric SUV, an unexpectedly less camouflaged production version of the vehicle has recently been spotted during its on-road testing.
In a new blog post, electric vehicle maker Tesla Motors has issued a clarification about the ‘federal tax credit phase-out’ situation for its buyers in the US.