Auto Industry News

Polestar's revenue nearly doubled in the first half of 2022 on soaring demand and it may have to raise its prices further if material costs continue to rise.

Bosch will invest more than $200 million to produce fuel cell stacks in its South Carolina facility, as the German auto supplier accelerates its transition to electrification.

Oil prices climbed on bets that OPEC+ will discuss output cuts at a meeting on Sept. 5, though fears of China's COVID-19 curbs and weak global growth continued to limit gains and a potential cap on the price of Russian exports loomed.

Taiwan looks forward to producing "democracy chips" with the United States, President Tsai Ing-wen told the visiting governor of the U.S. state of Arizona, Doug Ducey, the latest in a string of senior officials from the county to visit.

A General Motors and LG Energy Solution $2.3 billion joint venture battery production plant in Ohio has begun production.

Toyota Motor Corp will boost its planned investment in a new U.S. battery plant from $1.29 billion to $3.8 billion, partly in response to rising consumer demand for electric vehicles, the company said.

Musk has set his young company on an aggressive expansion path like no other auto executive has dreamed.

Oil prices fell about 1% to a near two-week low in volatile trade after the U.S. Federal Reserve delivered another hefty rate hike to quell inflation that could reduce economic activity and demand for oil.