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India's Diesel Demand Dips In First Half Of November
Diesel consumption totalled 2.43 million tonnes between Nov. 1-15, a decline of about 15.3% from last year and down 19.35% from the same period in 2019, the data showed.
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Swiss Set To Drop Criminal Probe Of VW Emissions Scandal
The Office of the Attorney General said it had informed the German carmaker and its Swiss dealership arm this month "that it considers the investigation to be complete and intends to drop the case," it said in a statement.
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U.S. Commerce Chief To Make Pitch For Chips Funding In Michigan
Raimondo is visiting a United Auto Workers local hall and meeting with Michigan politicians, officials from General Motors Co, Ford Motor and Chrysler-parent Stellantis on the chips push.
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New German Government Aims For At Least 15 Million EVs By 2030
Germany aims to have at least 15 million electric cars on the roads by 2030 in its shift towards climate neutrality, up from a previous goal of 14 million.
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Piech Automotive Says Incari Software In Its First EV Model Quick To Update
Piech Automotive is due to release its 200,000 euro Piech GT model in 2024, with a production target of 10,000 cars a year.
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Daimler To Produce First In-House Electric Motor At Berlin Plant
The motor, known as an axial-flux motor and designed by the British startup YASA which Daimler acquired earlier this year, weighs a fraction of its diesel equivalent and can boost the range of an EV by up to 7%.
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Oil Steadies As Investors Question Reserve Release
The United States said it would release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain to try to cool prices after OPEC+ ignored calls to pump more.
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Oil Dips, Focus On OPEC+ Response To U.S.-Led Oil Release
OPEC expects the U.S. release to swell a surplus in oil markets by 1.1 million barrels per day (bpd), a source from the group said.
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South Korea's SK On To Invest $2.5 Billion To Build New EV Battery Factory In China
The company had said in September it planned to build a new battery factory in China with an initial investment of 1.2 trillion won ($1.01 billion).
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China Evergrande EV Unit To Raise $347 Million From Share Sale To Fund Production
China Evergrande New Energy Vehicle Group Ltd will issue about 900 million shares at HK$3 apiece through a top-up placement to controlling shareholder Evergrande Health Industry Holdings Ltd, after striking a similar deal with it last week.
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Sharp Swings In EV Shares Draws Frenzied Options Trading
Sentiment in the electric-vehicle makers' options leaned toward bearish and defensive bets on Wednesday, according to Trade Alert data.
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Rivian Valued At Over $100 Billion In Debut, After World's Biggest IPO Of 2021
Despite just having started selling vehicles and having little revenue to report, Rivian ranked ahead of General Motors Co at $86.05 billion, Ford Motor Co at $77.37 billion, and Lucid Group at $65.96 billion.
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Startup Italvolt Signs Deal With Engie's Equans In Italy Battery Facility Plan
Italvolt has pledged to invest 3.4 billion euros ($3.9 billion) to build a battery production facility in Scarmagno, near Turin, to meet growing demand for lithium-ion batteries from Europe's automotive industry.
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EV Maker Bedeo Acquires Protean From Evergrande's Auto Unit
Bedeo is buying Protean from National Electric Vehicle Sweden, a unit of Evergrande New Energy Vehicle Group.
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Hertz In Talks With Tesla For EV Delivery Timeline
Tesla boss Elon Musk took to Twitter on Monday to say that his company had not signed a contract with Hertz, spurring a brief halt in Tesla's stock rally.
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Battery Swap Startup Ample Hits Unicorn Status With New Funding Round
The latest funding comes on the heels of a $160 million round in August that boosted the companys valuation to $890 million, according to investor website PitchBook.
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Foxconn Finalizes $50 Million Stock Deal With Lordstown Motors
Foxconn has bought stock worth $50 million from the U.S. electric vehicle maker, finalizing an equity investment announced in September.
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NXP Forecasts Sales Growth Driven By Connected Vehicles
NXP Chief Executive Kurt Sievers said the company intended to focus on key areas where more chips are going into cars and where NXP believes it can hold a market position at least twice that of any competitor.
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GM To Launch 10 EVs In South Korea By 2025, No Local Manufacturing Plans Yet
GM's South Korea unit builds about 600,000 vehicles a year, shipping many to the United States including the popular Chevrolet Trailblazer SUV, and employs about 12,000 people.
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BP's Venture Capital Arm Looks To India In Clean Mobility Drive
BP is also looking to invest in India's EV charging infrastructure to support BluSmart, as well as battery storage and energy management to solve India's challenges around peak power demand.
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