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Oil Climbs Ahead Of OPEC+ Meeting Next Week
Oil prices rose on expectations that OPEC+ will discuss output cuts at a meeting on Sept. 5, though concern over China's COVID-19 curbs and weakness in the global economy loomed over the market.
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SoftBank Plans $35 Million Bet On India's GoMechanic - Report
Vision Fund's early-stage talks with GoMechanic are being held around a valuation of $600-700 million, with Malaysian sovereign fund Khazanah and existing investor Tiger Global also planning to invest in the $100 million funding round.
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GM Startup Cruise Recalls And Revises Self-Driving Software After Crash
General Motors startup Cruise LLC said it had recalled and updated software in 80 self-driving vehicles after a June crash in San Francisco that left two people injured.
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Resigned Riders Of Gasoline-Fueled Motorbikes Pay For Parking In Paris
Paris's town hall decision to make gasoline-fueled motorcycles pay for parking kicked in this Thursday, triggering reactions from riders ranging from resignation to dissatisfaction.
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Piedmont To Build Lithium Plant In Tennessee For EV Market
Piedmont Lithium will build a lithium processing plant in Tennessee to supply the rapidly-growing electric vehicle (EV) industry.
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EV Maker Lucid Files For New Offering To Raise $8 Billion In Stages
Lucid filed for a new offering of up to $8 billion as the luxury electric-vehicle maker looks to beef up working capital at a time when supply snarls have crimped its production.
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China Says Automakers Must Have Licences For Mapping Data In Smart Cars
China has said that automakers must apply for licences to collect geographic data using sensors on their intelligent vehicles.
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Musk Sends Fresh Letter To Scrap Twitter Deal After Whistleblower Claims
Musk has sent an additional letter of deal termination to Twitter Inc to include a recent whistleblower complaint.
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Polestar Revenue Doubles As It Rides Electric Car Boom
Polestar's revenue nearly doubled in the first half of 2022 on soaring demand and it may have to raise its prices further if material costs continue to rise.
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Bosch To Invest $200 Million To Make Fuel Cell Stacks In South Carolina
Bosch will invest more than $200 million to produce fuel cell stacks in its South Carolina facility, as the German auto supplier accelerates its transition to electrification.
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Stocks Eye 3% Weekly Loss, Dollar Sky High Before U.S. Jobs Data
World stocks were heading for a 3% loss on the week while the dollar hit 24-year highs against the yen for a second day ahead of key U.S. jobs data, as investors brace for aggressive rate hikes from the Federal Reserve.
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Oil Gains Ahead Of OPEC+ Meeting; Russian Oil Price Cap Looms
Oil prices climbed on bets that OPEC+ will discuss output cuts at a meeting on Sept. 5, though fears of China's COVID-19 curbs and weak global growth continued to limit gains and a potential cap on the price of Russian exports loomed.
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Taiwan President Says She Looks Forward To Producing 'Democracy Chips' With U.S
Taiwan looks forward to producing "democracy chips" with the United States, President Tsai Ing-wen told the visiting governor of the U.S. state of Arizona, Doug Ducey, the latest in a string of senior officials from the county to visit.
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GM, LG Energy Joint Venture Ohio Battery Plant Begins Production
A General Motors and LG Energy Solution $2.3 billion joint venture battery production plant in Ohio has begun production.
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Toyota Triples Planned Investment To $3.8 Billion In U.S. Battery Plant
Toyota Motor Corp will boost its planned investment in a new U.S. battery plant from $1.29 billion to $3.8 billion, partly in response to rising consumer demand for electric vehicles, the company said.
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Analysis-Musk's Bold Goal Of Selling 20 Million EVs Could Cost Tesla Billions
Musk has set his young company on an aggressive expansion path like no other auto executive has dreamed.
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Oil Prices Slide 1% After U.S. Fed Raises Interest Rates
Oil prices fell about 1% to a near two-week low in volatile trade after the U.S. Federal Reserve delivered another hefty rate hike to quell inflation that could reduce economic activity and demand for oil.
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Russian Mobilization Hikes Urgency Of Oil Price Cap - Ukrainian Presidential Advisor
Oleg Ustenko criticized updated European Union guidance on sanctions on Russian coal shipments that he said could enable companies to transport Russian coal to third countries, which was not in the original spirit of the deal.
Read More →India Expects At Least $25 Billion Investment Under Semiconductor Incentive Scheme
India is expecting to court a total investment of at least $25 billion as a result of its incentive scheme meant to boost local manufacturing of chip and display panels.
Read More →U.S. Senators Want Secondary Sanctions On Russian Oil
Democratic and Republican senators proposed that U.S. President Joe Biden's administration use secondary sanctions on international banks to strengthen a price cap G7 countries plan to impose on Russian oil over Moscow's invasion of Ukraine.
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