Auto Industry News

Refiners have ramped up production to 92.4% of operable capacity, the highest since late June, helping send U.S. crude inventories to the lowest since January 2020.

For the week, Brent gained over 11% and WTI rose more than 10%, which was the biggest weekly percentage gains for both since June 2020.

The companies could reach an agreement as early as mid-September, and Western Digital CEO David Goeckeler would run the combined firm, the person said, requesting anonymity to discuss confidential matters.

Fresh COVID-19 outbreaks fueled by the Delta variant raised concerns about the strength of the economic recovery globally.

IOC is investing 1 trillion Indian rupees ($13.49 billion) to raise its refining capacity by 25 million tonnes a year in next 2-5 year, Vaidya said, adding his company aims to maximise yields of chemical products.

The move to stop selling lidars comes after the departure of CEO John Krafcik and some other executives, which had fueled questions about whether Waymo would rethink its strategy after failing to generate significant revenue for over a decade.

Huawei was placed on a U.S. trade blacklist in 2019, after the Trump administration said it was operating contrary to national security and foreign policy interests.

Several automakers and semiconductor companies have said this month that pandemic-related disruptions in the Southeast Asian nation were hitting their supply chains.