Auto Industry News

Upset By High Prices, GM's Cruise Develops Its Own Chips For Self-Driving Cars
General Motors' autonomous driving unit Cruise has developed its own chips for self-driving cars to be deployed by 2025, as they aim to bring down costs and scale up volume, executives said.

Oil Dips Nearly 1%, Reversing Gains After Bearish U.S. Economic Data
Sep 30, 2022 05:22 AM
Oil prices ended nearly 1% lower, reversing earlier gains as U.S. consumer prices unexpectedly rose in August, giving cover for the U.S. Federal Reserve to deliver another hefty interest rate increase next week.

Uber Asks Its India Drivers To Ensure Rear Seatbelts In Their Cars Work
Sep 30, 2022 05:21 AM
Ride-hailing company Uber Technologies has asked its drivers in India to ensure backseat seatbelts in their vehicles are accessible to passengers and they work, days after a local business tycoon died in a crash involving his private car.

Fiat Chrysler Gets New Chance To Block Mahindra 4x4s In Jeep Trademark Case
Sep 30, 2022 05:21 AM
Fiat Chrysler has received a second chance to permanently block U.S. sales of redesigned Roxor off-road vehicles made by Mahindra.

The G7's Price Cap On Russian Oil Begins To Take Shape
Sep 30, 2022 05:21 AM
The Group of Seven countries is working to cap the price of Russian oil in an attempt to limit Moscow's ability to fund its invasion of Ukraine, a plan analysts say could work in the long term but might boost oil prices in coming months.

Lebanon Central Bank Stops Providing Dollars For Gasoline Imports
Sep 30, 2022 05:21 AM
Lebanon's central bank said it has entirely ceased providing dollars for gasoline imports in a move that will likely lead to higher and more volatile prices as well as increased pressure on the local currency which has been steadily losing value.
Most Twitter Shareholders Vote In Favor Of Sale To Musk - Sources
Sep 30, 2022 05:21 AM
A majority of Twitter Inc's shareholders have voted in favor of the social media company's $44 billion sale to Elon Musk, people familiar with the tally said.

Chip Maker Wolfspeed To Build New U.S. Factory To Meet Surging EV Demand
Sep 30, 2022 05:19 AM
U.S. power chip maker Wolfspeed Inc said it will build a new multi-billion dollar factory in Chatham County, North Carolina to make the raw materials used for chips that power things like electric vehicles as demand surges.

Chip Maker Wolfspeed To Build New U.S. Factory To Meet Surging EV Demand
Sep 30, 2022 05:19 AM
U.S. power chip maker Wolfspeed Inc said it will build a new multi-billion dollar factory in Chatham County, North Carolina to make the raw materials used for chips that power things like electric vehicles as demand surges.

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