Auto Industry News

Oil prices rose slightly, bouncing off their lowest levels since February, as concern over supply shortages was countered by expected declines in fuel demand.

Italy is close to clinching a deal initially worth $5 billion with Intel to build an advanced semiconductor packaging and assembly plant in the country, two sources briefed on discussions told Reuters.

Oil prices slid about 4% to almost six-month lows, after U.S. data showed crude and gasoline stockpiles unexpectedly surged last week and as OPEC+ said it would raise its oil output target by 100,000 barrels per day (bpd).

Oil prices rose as supply concerns triggered a rebound from multi-month lows plumbed in the previous session after U.S. data signalled weak fuel demand.

GM said owners of certain vehicles equipped with its Super Cruise assisted driving system will now be able to use it on 400,000 miles (643,740 km) of North American roads.

India has cut fuel export taxes for the second time in less than two weeks and increased a windfall tax on locally produced crude oil

A joint battery venture of Toyota Motor Corp and Panasonic Corp will buy lithium from ioneer Ltd's Rhyolite Ridge mining project and use the metal to build electric vehicle batteries in the United States.

Uber Technologies Inc reported positive quarterly cash flow for the first time ever and forecast third-quarter operating profit above estimates, betting on steady demand for its ride-hailing and food-delivery services.