The USD16m will be spent on expanding and upgrading its manufacturing facilities located in Charlotte, Michigan to allow for the series production of Class 3-5 electric vehicles.

The automotive corporation sold 214,700 large vans in 2022, a 0% change on the year before.

The new terms would alter Renault’s voting rights through its Nissan shares and pave the way for further collaborations in Europe, Latin America, and India.

Ford Motor Company do Brasil Ltda has announced plans to assemble its Transit light commercial vehicle range in neighbouring Uruguay, starting next year.

The BRA14m (USD2.8m) deal, which was first announced last November, was finalised in February this year.

BMB Mode Center Ltda, the vehicle modification specialist for Volkswagen Trucks and Buses, has just completed 18 years of operations, manufacturing some 135,000 custom-built bodies in that timeframe.