Auto Industry News

A fuel tank exploded in a massive blast in the southern Libyan city of Sebha late, injuring 17 people, the health ministry said in a statement.

Sri Lanka's economy shrank 8.4% in the quarter through June from a year ago in one of the steepest declines seen in a three-month period, amid fertiliser and fuel shortages during the nation's most severe financial crisis in more than seven decades.

India's state-run Bharat Petroleum Corp said it had signed a preliminary agreement with Brazil's national oil company Petrobras to help it diversify its crude oil sourcing.

A fire that started at an electric scooter showroom in India killed at least eight people and injured 11, police said, in what is the deadliest such incident involving electric vehicles in the country.

San Francisco startup TeraWatt Infrastructure has raised more than $1 billion from investors to expand a network of charging centers focused on electric vehicle fleet customers, the company said.

Indian automaker Mahindra & Mahindra is in talks with global investors to raise between $250 million and $500 million to accelerate its plans to build electric vehicles (EVs), a source with direct knowledge of the matter told Reuters.

Oil prices rose for a second day, rebounding from recent losses as the U.S. dollar eased off recent gains and U.S. fuel inventory figures showed larger-than-expected drawdowns and a rebound in consumer demand.

Carmaker Stellantis and Uber announced a partnership along with the company Free2Move to focus on the French electric vehicles market.