Micromobility startup Also said on Wednesday it has been spun-off from electric-vehicle maker Rivian Automotive with $105 million in Series B funding from venture capital firm Eclipse and will focus on lightweight EVs.

Rivian, known for its large electric trucks, is setting its sights on small and lightweight vehicles. The Irvine-based automaker said Wednesday it’s spinning out its micromobility business into a new startup called Also Inc. Micromobility encompasses a variety of vehicles, including electric bikes, scooters and skateboards.

Hyundai celebrated the opening of its new $7.6 billion electric vehicle factory in Georgia on Wednesday by announcing plans to expand its production capacity by two-thirds to a total of 500,000 vehicles per year.

Hyundai Motor Group Metaplant America (HMGMA) is the automotive giant's factory of the future, setting the company up for regional production of new vehicles, including the forthcoming Hyundai Ioniq 9 SUV.

South Korean carmaking giant Hyundai has unveiled $21bn (£16.3bn) of investment in the US just days before President Donald Trump is set to impose new tariffs on trading partners. The plan includes a new $5.

Chinese electric vehicle maker BYD has reported its revenue soared to a record $107 billion last year as its sales of battery electric and hybrid vehicles jumped 40%

New car registrations fell 47% despite an overall increase in demand for electric vehicles at other carmakers.