Business

WASHINGTON — A divided Congress gave final approval Aug. 12 to Democrats’ flagship climate and health care bill, handing President Joe Biden a back-from-the-dead triumph on coveted priorities that the party hopes will bolster their prospects for keeping their hold on Congress in November’s elections.

Steven Cliff, the head of the National Highway Traffic Safety Administration, is stepping down from his post for a leadership role at the California Air Resources Board.

Stellantis NV is considering renovating a plant in Mexico to build hybrid and electric vehicles as it transforms its lineup to meet surging demand for battery-powered transport.

The U.S. Postal Service announced it intends to hike prices in October for holiday shipping.

Electric vehicle manufacturer Arcimoto abruptly removed founding CEO Mark Frohnmayer on Aug. 12, promoting another executive to run the company on an interim basis.

South Korea’s biggest electric car batterymakers and Hyundai Motor Co. have expressed concern over new U.S. legislation aimed at boosting domestic production of EVs and reducing the use of Chinese materials.

Mercedes-Benz Group AG will join China’s Contemporary Amperex Technology Co. Ltd. in building a battery factory in Hungary with an investment of as much as $7.6 billion.

The Inflation Reduction Act would give up to $40,000 tax credits per heavy-truck purchase, suggesting that competition to get the Tesla Semi to compete with Nikola will heat up.

Reducing truck waiting times at ports was a recurrent objective among some of the 166 projects awarded $2.2 billion in infrastructure grants announced by the U.S. Department of Transportation.

Rivian Automotive Inc. posted quarterly sales above Wall Street’s expectations and reaffirmed its delivery forecast, but the electric vehicle maker trimmed its full-year earnings expectations as it continues to grapple with supply chain snags, high costs and economic volatility.