The deal will create the world's second-largest steel company and is expected to close by June 18, reports said.

Chevy is combining the Corvette ZR1’s twin-turbocharged V-8 engine with the hybrid E-Ray’s electrified all-wheel drive system to stretch the performance chops of its flagship sports car.

Polestar will sell more than 190 million Class A shares to PSD Investment, a company controlled by Geely founder Li Shufu, giving the billionaire a combined total of 66 percent of the automaker.

John Elkann, who is also chairman of Ferrari and of Exor, the biggest shareholder in companies including Stellantis, Ferrari ...