Business
Toyota Motor Corp.’s North American chief operating officer criticized U.S. policies promoting speedy adoption of electric vehicles, calling them “de facto mandates” out of sync with consumer demand.
The poor performance of General Motors’ Chinese joint ventures is forcing the company to write down assets and take a restructuring charge.
Stellantis is recalling about 207,000 Jeep and Dodge SUVs in the U.S. to fix a problem with the antilock brakes, while General Motors is recalling nearly 462,000 pickup trucks and big SUVs over an issue with the rear wheels.
Climate & Environment
Dozens of Californians are part of a class action lawsuit filed in July against Toyota. They claim the carmaker’s salespeople misled them about the state’s unreliable hydrogen refueling infrastructure.
California
The minor, identified only as male, lost control of the bike and skidded into an intersection, police say, where he was struck by a car that didn’t stop afterward.
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General Motors is laying off about 1,000 workers worldwide, shedding costs as it tries to compete in a crowded global automobile market.
Health & Life Science
Irvine-based Inari Medical Inc. will be acquired by Stryker Corp. for $4.8 billion.
INDUSTRY UPDATES
Syntiant Corp. in Irvine entered into an agreement to acquire the Consumer MEMS Microphones (CMM) business of Knowles Corp. for $150 million on Sept. 18.
Irvine-based Mobix Labs Inc. agreed to acquire Spacecraft Components Corp., a Nevada-based aerospace and defense manufacturer of high-precision, mission-critical components for $24 million.