Google Gemini Co-Lead Noam Shazeer Leaves for OpenAI Amid AI Talent Race 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Chinese Social Media Giant Xiaohongshu Eyes Hong Kong IPO at Over $70 Billion Valuation 
Australia Eases Capital Gains Tax Reforms to Support Small Businesses and Startups 
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
HSBC Australia Faces A$35M Penalty Over Scam Protection Failures 
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
US Raises Concerns Over Possible ASML EUV Machine Transfer to China 
Japan Signals Readiness to Intervene as USD/JPY Nears 161 Amid Yen Weakness 
J.P. Morgan Sees Potential Vestas Guidance Upgrade Amid Strong Wind Energy Demand 
Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
Gold Prices Rebound on U.S.-Iran Peace Deal Optimism Despite Fed Rate Hike Signals 
BOJ Signals More Rate Hikes as Inflation Risks Rise Amid Energy Price Pressures 
Kingboard Holdings Shares Surge After HK$11.77 Billion Block Trade to Expand PCB and AI Supply Chain Business 
German Industry Employment Falls to Lowest Level in a Decade 
SoftBank Shares Drop as OpenAI Losses and Rising Costs Spark Investor Concerns 
Saudi Aramco Explores Sulphur Business Stake Sale to Raise Billions 
Ford Motor revealed its plans to invest $1.3 billion for the construction of a complex in Oakville, Ontario. The automaker is looking to turn this facility into a hub that will produce more electric vehicles.
Ford Motor is actually transitioning its existing Oakville Assembly Plant to the said Canadian location. The company said on Tuesday, April 11, that the goal is to transform it into a new EV facility and will be renamed Oakville Electric Vehicle Complex.
This will be the site where the Dearborn, Michigan-headquartered automobile manufacturer, will build its line of next-generation electric vehicles. Its target is to release the new EVs around mid-decade. According to CNBC, the rebuilding of the site was estimated to take six months, and work will start in the second quarter of 2024.
The overhaul at the Oakville complex will include the consolidation of the three body shops, and Ford Motor will add a battery pack assembly facility. They will use cells that will be sourced from a battery plant in Kentucky that is still under construction.
“Canada and the Oakville complex will play a vital role in our Ford+ transformation. It will be a modern, super-efficient, vertically integrated site for battery and vehicle assembly,” Ford Motor president and chief executive officer, Jim Farley, said in a press release. “I am most excited for the world to see the incredible next-generation electric and fully digitally connected vehicles produced in Oakville.”
Ford Canada’s president and CEO, Bev Goodman, further said, “Ford of Canada has been a leader in the country’s auto industry since it was founded 119 years ago. The successful transition to EV production in Oakville will help deliver stable Canadian employment with the opportunity to build the new skills and expertise to drive Ford and the industry forward.”
