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Neuralink Co-Founder Departs Musk-Backed Startup - Report
A founding member of Elon Musk's Neuralink left the company in recent weeks, according to two people familiar with the matter, the latest in a string of departures at the brain implant startup.
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Biden Will Push For Greater Oil Output On Mideast Trip - Report
U.S. President Joe Biden will make the case for greater oil production from OPEC nations to bring down gasoline prices when he meets Gulf leaders in Saudi Arabia this week, White House national security adviser Jake Sullivan said.
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Oil Slides 2% To 12-Week Low On Fears Of Global Recession
Oil prices slid about 2% to a 12-week low in volatile trade, extending the prior session's heavy losses as investors grew more worried energy demand would take a hit in a potential global recession.
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India Imposes Windfall Tax On Oil Producers, Fuel Exporters
India has imposed windfall tax on oil producers and refiners who have boosted product exports to gain from higher overseas margins as the government seeks to increase local supply of fuels to meet rising demand and increase federal revenues.
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India Boosted Russian Oil Imports In April-May By More Than 400,000 Bpd
India cranked up Russian oil imports by 4.7 times in April - may, or by more than 400,000 barrels per day (bpd), year-on-year, thanks to a price discount.
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Oil Slumps $3/Bbl On Gasoline Stockpiles, Rate Hikes And Resuming Supply
Oil prices fell more than $3 a barrel on higher U.S. gasoline stockpiles and after a European Central Bank (ECB) rate hike stoked demand worries, while returning oil supply from Libya and the resumption of Russia's gas flows to Europe eased supply restraints.
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Russia Seeking Oil Payments From India In Dirhams - Report
Russia is seeking payment in United Arab Emirates dirhams for oil exports to some Indian customers, three sources said and a document showed, as Moscow moves away from the U.S. dollar to insulate itself from the effects of Western sanctions.
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End Of Libyan Oil Blockade To Be Announced Shortly, Two Tribal Figures Say
Two Libyan tribal figures involved in a blockade of oil exports that has reduced output by 850,000 barrels per day said they expect the government-installed National Oil Corporation chief to announce the blockade's end imminently.
Read More →IEA Says Oil Market Walking Tightrope Due To Economic, Supply Risks
The global oil market is "walking a tightrope" between scarce supply and the possibility of a recession, the International Energy Agency (IEA) said, with higher prices and worsening economic conditions already taking a toll on demand.
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Analysis-Chevy's Electric Blazer SUV Fights To Stand Out In A Crowd
General Motors Co's electric Chevy Blazer SUV will be vital to the automaker's effort to catch Tesla Inc in the U.S. EV market, but by the time it hits showrooms next year it will be fighting a crowd of vehicles to run second in a segment dominated by Tesla's Model Y.
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Vietnam's VinFast Taps Banks For $4 Billion EV Factory Funding Deal
Vietnam carmaker VinFast said it has tapped Credit Suisse and Citigroup to raise at least $4 billion to build its planned electric vehicle factory in North Carolina and fund its U.S. expansion.
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S.Korea's LG Energy Solution To Supply Batteries To India's Mahindra -Report
South Korean battery maker LG Energy Solution is set to supply batteries to Mahindra & Mahindra's first electric sports utility vehicle (SUV).
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Samsung Electro-Mechanics Says In Talks With Tesla To Possibly Supply Camera Modules
Samsung Electro-Mechanics said that it is in talks with Tesla Inc to possibly supply camera modules, but that it cannot reveal the deal size or amount at this time.
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Ferrari To Churn Out Gas Guzzlers On Its Slow Road To Electric
Ferrari makes some of the fastest cars on the road, but the luxury Italian automaker is taking the slow lane to an electric future as it tries to overcome the technology's disadvantages against today's powerful fossil fuel engines.
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Evergrande's EV Unit Says It Receives Pre-Orders For More Than 37,000 Hengchi EVs
China Evergrande New Energy Vehicle Group Ltd said it had received non-binding pre-orders for more than 37,000 units of its first model Hengchi 5.
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Amazon-Owned Self Driving Firm Zoox Seeks To Test Robotaxi In California
Zoox, a self-driving technology firm owned by Amazon.com Inc, said it was gearing up to launch its robotaxi business, self-certifying that its vehicle with no pedals or steering wheel meets U.S. federal regulations and applying for a permit in California to test-drive it.
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Silk-FAW Confirms Plan To Build Electric Sports Cars In Italy
Silk-FAW, a start-up of U.S. automotive engineering and design firm Silk EV and Chinese automaker FAW, said it would press ahead with a plan, worth over one billion euros ($1.02 billion), to build electrified cars in Italy.
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Tiny Bolivian Automaker Bets It Can Tap World's Largest Lithium Deposits
A Bolivian startup is betting on the Andean nation's unlikely push to mine the world's largest lithium deposits, building tiny electric cars that it hopes can be adopted throughout Latin America with locally made batteries.
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Reliance, Ola Electric, Rajesh Exports Agree To Build Batteries In India
Reliance Industries, Softbank Group-backed Ola Electric and Indian jewellery maker Rajesh Exports signed final agreements to build battery cells under a $2.3 billion government incentive program.
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S.Korea's LGES Plans New EV Battery Plant In Europe
Tesla supplier LG Energy Solution Ltd (LGES) said it was looking at sites in Europe for a new battery plant and would ramp up production in Asia outside of China, where COVID lockdowns and rising costs were weighing on profits.
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