Bloomberg Toyota Motor Corp will break ground on its first battery factory in the US at a mega-site in North Carolina, joining an industry-wide push as automakers accelerate efforts to electrify their fleets. The Japanese company will invest $1.29 billion in the automotive battery manufacturing facility, which is scheduled to start production in 2025, the company said. It is the …

Bloomberg Volvo Car AB said it’s confident it can improve sales and profitability this year even as the global shortage in semiconductors continues to weigh on auto production. The manufacturer owned by China’s Zhejiang Geely Holding Group Co lost output of 50,000 cars in third quarter compared to the year-earlier period, it said. It reiterated its full-year outlook despite preliminary …

Bloomberg Rapid and still-evolving border restrictions in response to the omicron variant have submerged air-travel demand yet again, throwing a long-awaited recovery into uncertainty. The emerging coronavirus wave has put airlines under even more pressure as they navigate rules that vary by country and are being revised daily as more information about the strain comes to light. Carriers slashed 151,000 …