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S.Korea's LGES Looking For EV Battery Plant Sites In Europe, Asia Ex-China
The South Korean company also said it was still reviewing its 1.7 trillion won ($1.29 billion) investment for a battery plant in the U.S. state of Arizona
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VW Begins U.S. Production Of EV Compact SUV In Tennessee
The German automaker said it plans to deliver ID.4 SUVs produced in Tennessee as early as October and will ramp up production to 7,000 cars per month by the end of 2022.
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Indonesia Says Mitsubishi Motors To Invest About $667 Million Over Next 3 Years
Indonesia's chief economics minister in a statement said the Japanese company had invested 11.3 trillion rupiah up to 2021 and was planning to expand its production in the Southeast Asian country.
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Crisis-Hit Sri Lanka Woos Foreign Oil Firms Amid Fuel Shortages
Sri Lanka canvassed oil companies in petroleum-producing nations on Tuesday to import and sell their products in the Indian Ocean island, opening its market to resolve acute shortages of fuel during its worst economic crisis in decades.
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India's June Crude Oil Imports Up On Demand Recovery, Russian Discounts
India's crude oil imports in June rose nearly 21% year on year helped by a steady increase in consumption.
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Redwood Materials Plans To Spend $3.5 Billion On Making EV Battery Essentials
Redwood Materials is ramping up production of anode and cathode components to 100 gigawatt-hours by 2025, enough to supply batteries for 1 million EVs a year, then to 500 GWh by 2030, enough to supply 5 million EVs
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Oil Rises $2 As Dollar Eases, Market Wary Of Fed
Oil futures have been volatile in recent weeks, pressured by worries that rising interest rates could slow economic activity and fuel demand but supported by tight supply, especially since Russia's invasion of Ukraine and Western sanctions on Moscow.
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Tesla Raises Spending Plan, Discloses New Subpoena On Musk's 2018 Tweet
The company now expects to spend between $6 billion and $8 billion this year and each of the next two years, up from its previous expenditure plan of $5 billion-$7 billion, as it looks to ramp up production at its new facilities in Texas and Berlin.
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China's BYD To Start Selling Electric Vehicles In Japan Next Year
Company plans to launch three electric vehicles in Japan in 2023 starting with the ATTO 3.
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Silk-FAW Confirms Plan To Build Electric Sports Cars In Italy
Earlier this month Italy's Emilia-Romagna regional government sought reassurances from Silk-FAW amid worries by the local authorities that the plan might not go ahead.
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U.S. Energy Department Set To Loan GM Battery Joint Venture $2.5 Billion
The loan is set to help finance construction of new lithium-ion battery manufacturing facilities in the U.S.
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India's Reliance Industries Profit Surges, Powered By Oil Business
Reliance emerged as one of the key buyers of discounted Russian crude after some Western buyers shunned it following Moscow's invasion of Ukraine in late February.
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Indian Refiners' June Crude Processing Stays Robust, Output Slips
Throughput in June was about 4.7% lower than last month, but up over 17% year-on-year to 5.27 million barrels per day (21.58 million tonnes).
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Putin Discusses Oil Market With Saudi Crown Prince Who Hosted Biden Last Week
Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman spoke by phone on Thursday and underlined the importance of further cooperation within the OPEC+ group of oil producers, the Kremlin said.
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Battery Startup Lyten Recruits Senior Female Executive Mikolajczak
Silicon Valley battery startup Lyten has hired electric vehicle industry veteran Celina Mikolajczak as chief battery technology officer.
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Bitcoin Recovers After Falling On News Tesla Sold 75% Of Its Holdings
Bitcoin rebounded after a brief sell-off sparked by news that electric carmaker Tesla Inc had sold about 75% of its holdings of the virtual token.
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Baidu Unveils Autonomous Vehicle Without Steering Wheel
Baidu unveiled its new autonomous vehicle (AV) with a detachable steering wheel, with plans to put it to use for its robotaxi service in China next year.
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Twitter Blames Musk, Weak Ad Market For Drop In Revenue
Twitter blamed its ongoing battle to close its $44-billion acquisition by Elon Musk and a weakening digital advertising market for a surprise fall in quarterly revenue and a net loss.
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Global Manufacturers See Chip Shortage Easing
Hyundai Motor Co, factory robot builder ABB and Swedish fridge maker Electrolux see the semi-conductor chip shortage easing.
Read More →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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