Auto Industry News

Mirova, a fund manager associated to French bank Natixis, poured 100 million euros into Zunder in exchange for a 25% stake, White Summit's managing partner Pablo Pallas told Reuters on Tuesday.

Musk, the chief executive of Tesla, was answering a question during a call after the electric vehicle maker's quarterly report. The world's richest person is pursuing the Twitter purchase after earlier trying to back out of the $44 billion deal.

The maker of industrial drives and electric ship motors said on Thursday its core operating profit margin increased by 1.5 percentage points to 16.6%, the highest since the Swiss company was founded in 1988.

Tesla's production forecast, if achieved, would put the EV maker on track to meet Elon Musk's goal for production in the coming quarter and put the automaker close to the scale of German luxury automaker BMW by end 2023.

In June, the EU and India relaunched talks for a free trade agreement with the aim of completing them by the end of 2023. Talks began in 2007, but were frozen in 2013 due to lack of progress on issues including EU demands for greater access to Indian markets for its cars.

At the company's 'AI Day' event Elon Musk was asked what would he tell his younger self.

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.