Auto Industry News

Mahindra will launch its all-electric SUV in India in January 2023 with deliveries to commence later in the same month.

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 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

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.

The U.S. Department of Justice is investigating whether Tesla itself should face criminal charges over its self-driving claims, Reuters reported.

Tata revealed the updated booking numbers at the time of launching the updated Tigor EV.

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.

Velodyne and Ouster compete in precision sensors that enable self-driving vehicles to see the world around them. Both companies have been hit hard as timetables for large-scale autonomous vehicle deployment have stretched out.