Auto Industry News

Qualcomm said the automotive market size it is targeting could grow to as large as $100 billion by 2030.

Canadian pension fund Ontario Teachers' Pension Plan has agreed to buy a 30% stake for 23.71 billion rupees ($297.5 million) in Indian automaker Mahindra's renewable power assets, an exchange filing showed.

India's Ola will cut about 200 engineering jobs to reduce redundancy across its two main businesses of ride-hailing and electric vehicle manufacturing, the SoftBank Group-backed company said.

Indian government lowered taxes on aviation turbine fuel exports to 5 rupees per liter from 9 rupees per liter, a government notification said.

Oil prices rose slightly as a spill at Iraq's Basra terminal appeared likely to constrain crude supply, but remained down on the week on fears that hefty interest rate increases will curb global economic growth and demand for fuel.

President Vladimir Putin denied Russia had anything to do with Europe's energy crisis, saying that if the European Union wanted more gas it should lift sanctions preventing the opening of the Nord Stream 2 pipeline.

India's crude oil imports fell more than 13% in August month-on-month, government data showed, as monsoon rains restricted activity and slowed consumption in the world's third-biggest oil consumer.

Oil prices edged slightly higher in volatile trading, as worries of tight supplies outweighed fears that global demand could slow due to a strong U.S. dollar and possible large increases to interest rates.