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3 weeks ago | 
news.bloombergtax.com | David Welch |Keith Naughton |Gabrielle Coppola
Automakers including General Motors Co. and Hyundai Motor Co. reported higher US auto sales as the threat of price hikes from President Donald Trump’s tariffs drove consumers to showrooms. GM’s deliveries soared 17% in the first quarter, with a 15% gain in retail volume, the company said Tuesday. Ford Motor Co. saw retail sales rise while Toyota Motor Corp. reported slight growth in the first three months of the year.
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1 month ago | 
news.bloomberglaw.com | Monica Raymunt |Gabrielle Coppola |Jacob Lorinc |David Welch
Volkswagen AG has been wanting to build more cars in North America. Now, as Donald Trump embarks on a trade war that’s roiled the global auto industry, the German carmaker’s calculus has grown far more complicated. About this time last year, the company was considering expanding a plant in Tennessee, using a factory it’s planning in South Carolina or boosting operations in Mexico. Executives are now looking primarily at options in the US Southeast, according to people familiar with the matter.
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1 month ago | 
news.bloombergtax.com | Gillian Tan |Crystal Tse |David Welch
Ares Acquisition Corp. II is in advanced talks to merge with autonomous trucking startup Kodiak Robotics, according to people with knowledge of the matter. A transaction may value the combined entity at about $2 billion, said some of the people, all of whom requested anonymity to discuss confidential information. The Ares special purpose acquisition company, or SPAC, was vying for Kodiak against rival bidders, some of the people said.
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1 month ago | 
news.bloomberglaw.com | Gillian Tan |Crystal Tse |David Welch
Ares Acquisition Corp. II is in advanced talks to merge with autonomous trucking startup Kodiak Robotics, according to people with knowledge of the matter. A transaction may value the combined entity at about $2 billion, said some of the people, all of whom requested anonymity to discuss confidential information. The Ares special purpose acquisition company, or SPAC, was vying for Kodiak against rival bidders, some of the people said.
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1 month ago | 
news.bloomberglaw.com | Josh Wingrove |Eric Martin |David Welch |Keith Naughton
Leaders of Ford, GM, Stellantis met with Trump administrationCarmakers say tariffs will drive up prices, upend supply chainThe Trump administration is considering a one-month delay for automakers from newly imposed tariffs on Mexico and Canada, according to people familiar with the matter, as a temporary reprieve following pleas from industry leaders.
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1 month ago | 
news.bloombergtax.com | Gabrielle Coppola |David Welch
Tariffs on imports from Canada and Mexico will be worth the pain it causes the auto industry because it can help curb the flow of undocumented migrants and illegal drugs to the US, said Republican Senator Bernie Moreno. “Trump’s 100% right, and all of us should rally around his demand that our two neighbors step up,” the Ohio lawmaker said in interview last week. “Until they do what they need to do, yes, am I willing to take some amount of short-term pain?
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2 months ago | 
news.bloomberglaw.com | Gabrielle Coppola |David Welch
Toyota Motor Corp. has agreed to shift a $1.5 billion order with LG Energy Solution to bolster operations at a Michigan battery plant after General Motors Co. backed out of the project, according to people familiar with the matter. GM said in December it would sell its $1 billion stake in the Lansing, Michigan, plant, leaving LG scrambling to find new customers.
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2 months ago | 
news.bloombergtax.com | David Welch |Keith Laing |Gabrielle Coppola
XYour Choices Regarding Cookies and IdentifiersWe and our 150 third party partners use cookies and similar technologies ("Cookies") and hashed identifiers (e.g., a hashed version of your name, email address or phone number) to help us identify you on our site and third-party sites and to process certain information, such as your IP address and digital identifiers, to analyze site usage and provide you with relevant advertisements and content.
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2 months ago | 
finance.yahoo.com | Kara Carlson |David Welch
Kara Carlson and David Welch Thu, Feb 6, 2025, 4:34 PM 1 min read In This Article: (Bloomberg) -- Nikola Corp. is exploring a possible bankruptcy filing, the Wall Street Journal reported, sending shares of the hydrogen-vehicle maker down about 30% in postmarket trading. The cash-poor company is working with its law firm and near a filing, among other possible options, the report said, citing unnamed sources.
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2 months ago | 
news.bloomberglaw.com | Jacob Lorinc |David Welch |Amy Stillman
President Donald Trump’s tariffs against Canada and Mexico will threaten production at automakers across North America and send record vehicle prices even higher, with about a quarter of a trillion dollars in trade set to be disrupted. Trump on Saturday followed through on his warning to impose 25% tariffs on imports from the two countries, blaming the flow of migrants and drugs over the US borders — as well as large trade deficits — for the move.
