Auto Industry News

The battery unit of energy group SK Innovation Co Ltd has been in talks with a local private equity consortium which includes EastBridge Partners, Korea Investment Partners and Stella Investment

Oil prices settled up more than $2 after the International Energy Agency raised its oil demand growth forecast for this year as soaring natural gas prices have some consumers switching to oil.

Traders and fund managers have left crude oil markets in recent months, dropping activity to a seven-year low amid the worst global energy crisis in decades as investors become unwilling to deal with persistently high volatility.

General Motors Co and LG Energy Solution are considering a site in Indiana for a fourth U.S. battery cell manufacturing plant, a spokeswoman for the companies' joint venture said.

Tesla can continue referring to the capabilities of its driver assistance system and to autonomous driving in its advertising in Germany after a court threw out a complaint against the practice.

Indian ride-hailing firm Ola Electric plans to start producing electric cars in India in 2024 with a range of up to 500 km (310 miles), Chief Executive Bhavish Aggarwal said.

The leaders of Serbia and Kosovo failed to resolve differences fuelling tension between the estranged Balkan neighbours during talks, but they agreed to resume discussions ahead of a Sept. 1 deadline that could stoke further unrest.

Oil prices rose about 1.5% after hitting a six-month low, as a steeper-than-expected drawdown in U.S. crude stocks outweighed concerns over rising Russian output and exports as well as recession fears.