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Goldman Sachs Says Global Oil Reserves Release 'A Drop In The Ocean'
Brent crude prices have also priced in an additional hit to global oil demand of 1.5 million barrels per day for the next three months from the impact of COVID-19 in Europe and China, Goldman said.
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Canoo Advances Manufacturing Dates For Electric Vehicles
The company now plans to expand to include Arkansas and other locations in Oklahoma, for research and development, software development, customer support and finance centers.
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Oil Rises 3% To One-Week High After U.S. Taps Emergency Reserves
Brent futures rose $2.61, or 3.3%, to settle at $82.31, while U.S. West Texas Intermediate (WTI) crude rose $1.75, or 2.3%, to settle at $78.50.
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India's October Crude Imports Stay Elevated As Consumption Rebounds
Imports rose 11.1% to 17.09 million tonnes from the same month a year earlier, according to data on the website of the Petroleum Planning and Analysis Cell.
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India's Release Of 5 Million Barrels Oil From Stockpile A 'Symbolic Gesture'
The government official said the release from India's strategic petroleum reserve (SPR) was "a symbolic gesture" as it needed to create space as part of efforts to make money from renting out the storage and was already selling the oil.
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Oil Producers Cannot Hold Consumers To Ransom, Says India Oil Minister
Ahead of the OPEC+ meeting next week to set output policy, Puri blamed the key producers for keeping supplies lower than demand.
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Oil Settles Down $10/Barrel In Largest Daily Drop Since April 2020
Oil fell with global equities markets on fears the variant, could dampen economic growth and fuel demand.
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Apple Global Battery Development Chief Moves To Volkswagen
This is the second time in recent months that an Apple executive has left for an automaker. Apple lost its head of car project, Doug Field, to Ford Motor in September.
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Nvidia Launches New Products To Plug Cars, Factories Into Its Omniverse
Nvidia is looking to capitalize on the intense competition among automakers to develop vehicles that can drive themselves and deliver sophisticated entertainment and information to the humans on board.
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First Cobalt Aims To Create Specialist EV Battery Materials Facility In North America
First Cobalt aims to create North America's first specialist facility for producing electric vehicle battery materials such as cathode chemicals.
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Infineon CEO Says Chip Supply To Remain Tight In 2022
Speaking at the Handelsblatt Automotive Summit, Chief Executive Reinhard Ploss said that vehicle production and chip supply could be balanced by the third quarter.
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UK's Connected Kerb Targets 190,000 On-Street EV Chargers By 2030
Connected Kerb uses long-term contracts spanning 15 to 25 years, financed by large infrastructure banks and groups like infrastructure investor Equitix.
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Lordstown Appoints Chief Commercial Officer, Other Executives In Management Rejig
The company said Chief Operating Officer Jane Ritson-Parsons will also take on the newly created role of Chief Commercial Officer to build Lordstown's commercial strategy for its vehicles.
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Xiaomi To Open Car Plant In Beijing With Annual Output Of 300,000 Vehicles: Report
The plant will be constructed in two phases and Xiaomi will also built its auto unit's headquarters, sales and research offices in the Beijing Economic and Technological Development Zone
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Taiwan Looking At Chip Cooperation With Eastern European Nations
Taiwan, home to companies such as Taiwan Semiconductor Manufacturing Co Ltd (TSMC), has become front and centre of efforts to resolve a shortage of chips that has shut some auto production lines around the world and whose impact is now being felt in consumer electronics too.
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Tesla Details $1 Billion Costs For New Texas Factory, Targets Year-End Completion
The company said it plans to complete construction of its general assembly, paint, casting, stamping and body shop facilities by Dec. 31.
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BlackRock Joins EV Charging Venture Ionity In $788 Million Funding Round
The investment will enable Ionity to more than quadruple the number of high-power 350 kilowatt charging points to 7,000 by 2025,
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Geely Unit Lotus Tech Aims To Raise Up To $500 Million In Funds: CFO
The company will launch its first product - an electric sports utility vehicle - in the first quarter of next year and aims to have three models within the next five years.
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Carmakers Get Inventive As Global Chip Crisis Bites
The global shortage of semiconductors has hit the auto industry hard, with millions of vehicles worldwide not being produced because important parts are missing.
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Tesla's Musk Exercises More Options, Sells Shares Worth $1.05 Billion
Elon Musk sold another 934,091 shares of the electric vehicle maker worth $1.05 billion after exercising options to buy 2.15 million shares.
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