Auto Industry News
G7 Coalition Has Agreed To Set Fixed Price For Russian Oil: Report
U.S. officials and G7 countries have been in intense negotiations in recent weeks over the unprecedented plan to put a price cap on sea-borne oil shipments, which is scheduled to take effect on Dec. 5 - to ensure EU and U.S. sanctions aimed at limiting Moscow's ability to fund its invasion of Ukraine do not throttle the global oil market.
Toyota Cuts Output Target Amid Chip Crunch As Profit Tumbles 25%
Nov 30, 2022 09:48 PM
Toyota posted a worse-than-expected 25% drop in quarterly profit and cut its annual output target, as the Japanese firm battles surging material costs and a persistent semiconductor shortage
Uber Shares Surge On Solid Profit Forecast As Rideshare Recovery Defies Inflation
Nov 30, 2022 09:48 PM
With cities reopening and travel booming, consumers are shifting their budgets to services, Chief Executive Dara Khosrowshahi said, compared to the two years of COVID-led lockdowns when they had limited spending to basic needs.
Bosch, Mercedes-Benz To Roll Out Fully-Automated Parking At Stuttgart Airport
Nov 30, 2022 09:47 PM
The function will be available for Mercedes-Benz customers owning an S Class or EQS produced from July 2022 onwards.
Tesla Crash Trial In California Hinges On Question Of 'Man Vs Machine'
Nov 30, 2022 09:46 PM
The U.S. Department of Justice is investigating whether Tesla itself should face criminal charges over its self-driving claims, Reuters reported.
Verkor Raises 250 Million Euros To Fund EV Battery Megafactory
Nov 30, 2022 09:46 PM
Verkor, which is based in Grenoble, said investors in the funding round included French bank Societe Generale, German industrial company Siemens and the European Investment Bank, which put in 49 million euros.
Renault, Google Expand Ties In Automotive Software
Nov 30, 2022 09:46 PM
The partnership with Google will also help Renault accelerate its "end-to-end digital transformation, from the design of the car to its market launch through its production," Renault Chief Executive Luca de Meo said in a statement.
China Pledges High-Tech Support For Climate, Environmental Problems
Nov 30, 2022 09:30 PM
In a new action plan, the Chinese government said it would build a "green technology innovation system" over the 2021-2025 period to tackle air, soil and groundwater pollution, reduce waste and protect ecosystems, noting that current technologies were not mature enough to serve the country's long-term needs.
Mazda To Invest $11 Billion By 2030 To Procure EV Batteries - Report
Nov 30, 2022 09:22 PM
Mazda plans to invest 1.5 trillion yen ($10.6 billion) by 2030 to procure electric vehicle (EV) batteries and cooperate with battery supplier Envision AESC.
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