Auto Industry News

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

Oil prices fell nearly $6 a barrel, the steepest decline in about a month, on fears that fuel demand could soften as global central banks hike rates to fight surging inflation, and as unrest in Iraq failed to dent the OPEC nation's crude exports.

Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects including some in the remote iceberg waters far off Canada's Atlantic coast.

Oil prices recovered slightly as data pointed to firm U.S. fuel demand, providing respite after a 5% drop a day earlier on fears that demand will suffer from increased China COVID curbs and central bank interest rate hikes.

Elon Musk is seeking to delay until November a trial over his intention to back out of a $44 billion deal to buy Twitter Inc and amend his complaint against the social media company, according to court filings, after a whistleblower provided him with fresh ammunition.

Car production at Stellantis' Sochaux car plant in France will be suspended until Saturday, the company confirmed to Reuters, after a union official cited semiconductor shortages as the reason for the interruption.

A California state judge said he would likely deny Tesla Inc's bid to dismiss a lawsuit by the state's civil rights agency accusing the electric car maker of widespread race discrimination at an assembly plant.

Juneyao Group, the parent of Chinese carrier Juneyao Airlines, plans to start making electric vehicles (EV), two people with knowledge of the matter said, as it seeks to diversify from businesses that have been hit hard by COVID.