Auto Industry News

Euler Motors did not disclose the valuation at which it raised the money in the Series C round, although it said its other investors included Blume Ventures, Athera Venture Partners, QRG Holdings, ADB Ventures and Moglix.

As demand soars for chips used in everything from smartphones to cars, supply chain bottlenecks going on for almost two years have created havoc in several global industries, including automotive, healthcare and telecoms.

BYD launched the Atto 3 electric SUV, fitted with its renowned Blade battery technology, with a plan to corner 40% of the country's electric car market by 2030.

The sedan, imported from Toyota Brazil, is powered by flex fuel technology, which allows the engine to run on fuel blended with a higher percentage of ethanol, reducing the consumption of gasoline, along with a hybrid powertrain.

Even before a recent spike in EV sales, U.S. roads have been carrying heavier loads, as cars and trucks climbed from an average of 3,200 pounds (1,451 kilos) to 4,200 pounds over the last four decades, according to the Environmental Protection Agency.

Musk, who is also chief executive officer of electric car maker Tesla Inc, proposed to Twitter late on Monday he would change course and abide by his April agreement to buy the company for $54.20 per share, if Twitter dropped its litigation against him.

Two oil wells operated by Nigerian firm Eroton Exploration and Production Limited caught fire on Monday and were still burning on Tuesday.

U.S. climate envoy John Kerry has asked Democratic Republic of Congo to withdraw some of the oil blocks it has put up for auction in order to protect forests.