The conglomerate's energy unit said in July it had picked Kansas as the site for a new plant to supply batteries primarily to Tesla Inc, joining other battery producers planning massive U.S. investments to qualify for new EV tax credit rules and to tap that market's potentially massive demand.
U.S. inventories of distillate fuels finished October at their lowest levels for any October since 1951, according to the U.S. Energy Information Administration.
India, Asia's third-largest economy, annually consumes 25 million to 30 million tonnes of petrochemicals. Its per capita consumption is about a third of global average.
Oil prices dropped about 4% as weak manufacturing data in several countries weighed on the demand outlook while investors braced for this week's meeting of OPEC and its producer allies on supply.
Spot prices for Russia's key export crude grade ESPO Blend to Asia have rebounded from all-time lows amid strong demand from top buyers India and China and easing concerns about possible sanctions, several traders said.
The West's energy giants are set to return a record $30 billion to investors after reporting bumper profits in the second quarter of the year following a surge in energy prices.
Oil prices rose by over 1% after the International Energy Agency raised its oil demand growth forecast for this year as soaring gas prices drive some consumers to switch to oil.
Oil prices edged higher in volatile trading as the market awaited clarity on talks to revive a deal that could allow more Iranian oil exports, and bleak economic data from leading crude buyer China limited gains.
With an eye on the autumn school break that starts at the end of the week, members of the French government, who forced some fuel depot staff to return to work earlier this week, repeated that a back to normal situation was within reach.
To fight inflation, the U.S. Federal Reserve is trying to slow the economy and will keep raising its short-term rate target, Federal Reserve Bank of Philadelphia President Patrick Harker said on Thursday in comments that weighed on oil.
The Group of Seven countries agreed last month to cap Russian oil sales at an enforced low price by Dec. 5 but faced consternation from main players in the global oil industry who feared the move could paralyse the trade worldwide.
The company did not say what percentage of its European last-mile delivery fleet is electric today, but said those 3,000 zero-emission vans delivered over 100 million packages in 2021.
Daimler India Commercial Vehicles (DICV) has announced the launch of a global competition 'Startup Sparks' for early-stage start-ups to pitch their ideas. The new start-up incubator evolved from the company's internal innovation platform 'The Farm', will focus on the fields of Electric Vehicles and Alternate Mobility, Connectivity and Servitization, Future Mobility, and Customised Applications and Industrial Products.
A new highlight of the 2022 awards program is the debut of the World Electric Vehicle of the Year award. This new award is intended to recognize, support and celebrate the global transition to electrically-powered vehicles
Siddhartha Lal's re-appointment as managing director at Eicher Motors, the parent company of Royal Enfield was rejected by the shareholders over a salary hike proposal.
Volkswagen may need to cut production further due to a semiconductor supply crunch, the German carmaker said on Thursday, after a report that Toyota would slash output by 40% in September.
China's Geely Automobile Holdings Ltd retained its annual sales target on Wednesday, betting that new vehicle launches will offset the short-term impact of a global chip shortage and a resurgence of the coronavirus pandemic.
Toyota Motor Corp said it will slash global production for September by 40% from its previous plan, becoming the last major automaker to cut output due to a global chip crunch, but it maintained its annual sales and production targets.
Hyderabad-based e-mobility start-up, RACEnergy, has announced raising $1.3 million or Rs. 9.67 crore in funding in a Seed+ round led by Micelio Fund and growX ventures.
The Autonomous Level 2 MG Astor is powered by mid-range radars and a multi-purpose camera that can realize a series of advanced driver-assistance systems (ADAS).
Nissan and its union have been locked in an industrial arbitration dispute since July after the two sides failed to reach a mutual agreement over several issues including higher wages. A previous wage agreement expired in March 2019.
Tata Motors took the wraps off the Tigor EV, which will be on sale for the private car buyers and not only for fleet operators. Here are the top five highlights of the Tata Tigor EV.
