Auto Industry News

Tesla is considering setting up a lithium refinery on the gulf coast of Texas, as it looks to secure supply of the key component used in batteries amid surging demand for electric vehicles.

Crude prices edged up about 1% after dropping to a seven-month low in the prior session as some technical traders bought the dip and Russia threatened to halt oil and gas exports to some buyers.

India's finance minister said that importing Russian oil was part of the country's inflation-management strategy and that other countries were doing something similar.

A number of oil-importing countries are considering joining the G7's plan to cap the price of Russian oil.

Wolfspeed 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.

Oil prices rose about 4% supported by real and threatened cuts to supply, although futures posted a second weekly decline.

Uber has partnered with Nuro to test food delivery via unmanned vehicles in some U.S. locations.

The U.S. Commerce Department said it hopes by February to begin seeking applications for $39 billion in government semiconductor chips subsidies to build new facilities and expand existing U.S. production.