Auto Industry News

Oil prices fell on expectations that U.S. production could rise and as weaker economic data out of China and the country's widening COVID-19 curbs weighed on demand.

Japan will ask the United States to be more flexible on EV purchase incentives for non-American carmakers.

The chief of Volkswagen's Spanish unit SEAT said the subsidies offered by Spanish authorities for a battery factory construction and electric vehicle production "is not sufficient", but voiced optimism about finding a solution.

Stellantis sees its future as a niche player in China through its premium brand Jeep and luxury brand Maserati, its chief financial officer said.

Lyft Inc said it would lay off 13% of its workforce, or about 683 employees, in the ride-hailing firm's latest cost-cutting step to cope with a weakening economy.

Volkswagen said it would not disclose the selling price as per the agreement.

SiMa.ai said it is entering the automotive industry and has recruited Harald Kroeger, a former executive at top tier auto supplier Bosch and Mercedes Benz, to lead that business.

The company is yet to make a final decision