Auto Industry News
Devastating Fire May Force Cuba To Resort To Floating Oil Storage
An inferno at Cuba's largest oil storage facility has killed at least one firefighter, injured many more, and threatens to further swell the fuel import bill for the impoverished island nation that relies on foreign oil for everything from transportation to its power grid.
Clashes In Oil-Rich Shabwa Test Yemen's New Presidential Council
Aug 29, 2022 11:02 PM
Yemen's new presidential council is under strain over clashes between nominal allies in oil-rich Shabwa this week, imperilling Saudi Arabia's efforts to strengthen an anti-Houthi coalition and potentially complicating international peace efforts.
Oil Settles Lower On Weak Economic Chinese Economic Data
Aug 29, 2022 10:57 PM
Oil prices settled lower after disappointing Chinese economic data renewed concerns of a global recession that would be expected to reduce fuel demand.
Barclays Sees Crude Surplus In Near-Term, Cuts Brent Price View
Aug 29, 2022 10:57 PM
Barclays lowered its Brent price forecasts on Tuesday by $8 per barrel for 2022 and 2023, as it expects a large surplus of crude oil over the near-term due to "resilient" Russian supplies.
Australia To Target Vehicle Emissions To Boost Electric Car Supply
Aug 29, 2022 10:57 PM
Australia's government said it plans to introduce new regulations targeting vehicle carbon emissions to boost the uptake of electric cars, as it looks to catch up with other developed economies.
Musk Approaches Brain Chip Startup Synchron About Deal Amid Neuralink Delays -Sources
Aug 29, 2022 10:56 PM
Elon Musk has approached brain chip implant developer Synchron Inc about a potential investment as his own company Neuralink plays catch-up in the race to connect the human brain directly to machines, according to four people familiar with the matter.
EV Maker Nikola Beats Revenue Estimates On Higher Deliveries
Aug 29, 2022 10:56 PM
Nikola Corp exceeded market estimates for quarterly revenue as the electric-vehicle maker delivered more semi trucks after a production ramp-up, sending its shares 6% higher in trading before the bell.
U.S. Lawmakers Urge Joint Use Of Funds For Broadband, EV Charge Stations
Aug 29, 2022 10:56 PM
A group of 10 U.S. House Democrats asked President Joe Biden's administration to build electric vehicle charging stations together with broadband internet infrastructure under the $1 trillion infrastructure law approved in November 2021.
Foxconn To Build Autonomous Electric Tractors At Ohio Facility
Aug 29, 2022 10:56 PM
Taiwan's Foxconn, the world's largest contract electronics maker, said it will build driverless electric tractors for California-based Monarch Tractor at its Lordstown, Ohio, facility starting in early 2023.
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