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October 19, 2021
DETROIT — Global automakers and tech companies are stepping up the pace when it comes to building factories and prepare for what many believe will be a fast-moving transition from internal combustion engines to electric vehicles.
On Monday, Toyota, Stellantis, Foxconn, Ford and Volvo all made announcements about electric vehicle component or assembly plants, or plans to raise capital to fund the transition. The moves come on top of previous plans from Ford and General Motors to build five U.S. battery factories in anticipation of the shift to electric power.
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