General Motors has officially agreed to sell its Opel and Vauxhall brands to the PSA Group as the Detroit automaker attempts to stanch more than a decade of staggering losses in Europe.

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The EV startup burned through $800 million by the middle of 2018 and was seeking an installment of $700 million from Evergrande as operating cash for the remainder of the year, which was expected to see the start of production for the FF 91. Evergrande allegedly refused to provide the $700 million, which triggered the arbitration that is being conducted in Hong Kong.....

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