Michigan-based Nexteer Automotive wins a A$63 million ($65 million) grant over three years from the Australian government to produce power-steering and driveline components designed to make vehicles lighter and more fuel-efficient. Federal funding for the U.S. company’s Nexteer Australia subsidiary comes from the Green Car Innovation Fund, and is the biggest grant awarded under the fund to an automotive supplier. There also will be funding from the Victoria state government to help set ...

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