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Industry

Ford CEO warns of China car push, says Europe is already too late

Ford CEO Jim Farley said the United States should take time and act cautiously on Chinese automakers entering the U.S. market, pointing to Europe where their presence expanded rapidly. He said low prices and long driving ranges are helping Chinese EVs gain share, and he raised national security concerns about data collection. Farley said Ford can both cooperate and compete with Chinese firms, even as U.S. policy remains unsettled.

Industry

GM to mass-produce next-generation LMR batteries, targets 33 percent more range at LFP cost

General Motors has chosen Spring Hill, Tennessee, as the mass-production base for next-generation lithium manganese-rich (LMR) batteries for electric vehicles. It plans to produce the batteries at Ultium Cells, its joint venture with LG Energy Solution, and start plant upgrades later this year, finishing by 2028. GM said the plant will be the first to mass-produce prismatic LMR cells and that the technology can boost driving range by 33 percent versus LFP batteries.

Crypto

Kalshi seeks CFTC approval to expand leverage for institutions in U.S. prediction market

Prediction market platform Kalshi has filed a request with the U.S. Commodity Futures Trading Commission to introduce leveraged trading in regulated event contracts through its clearing arm, Kalshi Klear. Kalshi said full cash collateral requirements tie up funds and limit institutional participation in longer-dated contracts. The proposal would raise margin as expiry nears and exclude sports, culture and “mention” markets. Questions have also been raised about repeated fixed-size trades in crypto perpetual futures samples.