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Musk-Golia. Elon Musk is adding globe-trotting to his resume. Rumors say a $4.5B investment may bring a Tesla factory to Spain, while in Mongolia, Musk is pointing at battery minerals and asking, "y'all using these?" to gauge interest in a battery plant. Of course, it isn't all Tesla. SpaceX's Starlink could be a win-win addition to the Musk-Golia (Musk and Mongolia) partnership.
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Not Kiaboyz. Hyundai Motor America donated $50,000 to two Savannah organizations as part of its community investment strategy in Georgia. Savannah State University will receive $25K for STEM scholarships. Another $25K will aid child passenger safety and driver education programs at the Dwaine & Cynthia Willett Children's Hospital and Safe Kids Savannah.
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More-More. Chinese leaders think the only thing better than more is more-more! Following a 7.3% passenger vehicle sales increase in May, the country launched a nationwide campaign to stimulate automobile purchases and bolster demand in the world's largest auto market. The initiative will encourage lending for auto purchases and promote replacing gasoline cars with new energy vehicles. New EV incentives could lead to a wave of investments similar to the US after the Inflation Reduction Act or devastate the local bicycle market. It is anybody's guess.
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Speaking of China... US luxury electric vehicle maker, Lucid Group, is preparing to enter the Chinese market, confirmed by the company's head of China operations, Zhu Jiang. While initially selling imported cars, Lucid is also considering local production in the country. This move comes as Lucid is set to raise about $3 billion through a stock offering.