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The company's automotive efforts, known as Project Titan, have proceeded unevenly since 2014, when it first started to design a vehicle from scratch.

The German carmaker's management and works council struck an agreement on restructuring the site in southwestern Germany, which also foresees a 20% reduction in fixed costs by 2025 compared with 2019 and workforce cuts, the report said, citing company sources.

Disruptions to the country's supply chain expanded on Thursday, the eighth day of the nationwide strike by more than 20,000 truckers, as the government prepares to order more of them back to work.

The Profilee will be one of the last Bugatti to use the iconic W16 engine and is a more subdued iteration of the Chiron Pur Sport that debuted in 2020.

While retail has been slower to adopt automation than sectors such as autos and electronics, it has been picking-up the pace - from the introduction of basic self check-out tills in stores to the use of robots and AI in supply chains.

The electric-vehicle manufacturer is currently preparing to roll out 75,000 Model Y vehicles from Gigafactory Texas in the first quarter of 2023, according to the report.

Musk has fired Tesla and SpaceX employees who have disagreed with his views on twitter.

Oil prices fell more than 3% continuing a streak of volatile trading, as the Group of Seven (G7) nations considered a price cap on Russian oil above the current market level.