Auto Industry

Reuters

Aug 29, 2022, 10:40 PM

SAIC Motor's Ridehailing Unit Raises 1 Billion Yuan In Series B Funding

Momenta's investment in SAIC's ridehailing unit comes as startups have been pouring billions of dollars into autonomous technology, aiming to take an early lead in commercializing autonomous driving

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  Reuters | Aug 29, 2022

  Judge Orders Twitter To Give Elon Musk Former Executive's Documents

  Twitter Inc needs to give Elon Musk documents from a former Twitter executive who Musk said was a key figure in calculating the amount of fake accounts on the platform, according to a court order.

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  Reuters | Aug 29, 2022

  India Buys Discounted Venezuelan Petcoke To Replace Coal

  Indian companies are importing significant volumes of petroleum coke from Venezuela for the first time, trade sources and shipping data show, as the OPEC nation boosts exports not specifically targeted by U.S. sanctions.

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  Reuters | Aug 29, 2022

  Oil Reverses Losses, Demand Concerns Persist

  Oil prices edged higher in volatile trading as the market awaited clarity on talks to revive a deal that could allow more Iranian oil exports, and bleak economic data from leading crude buyer China limited gains.

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  Reuters | Aug 29, 2022

  SAIC Motor's Robotaxi Unit Raises 1 Billion Yuan In Series B Funding

  A robotaxi unit of China’s state-owned SAIC Motor has raised more than 1 billion yuan ($147.37 million) in a second round of fundraising from its autonomous technology partner Momenta and several other institutions, according to a Momenta statement and a person familiar with the matter.

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  Reuters | Aug 29, 2022

  EV Maker Faraday Future To Raise Up To $600 Million In Funding

  EV startups that promised to disrupt the auto industry by using a technology-heavy approach to their vehicle designs are now scrambling to secure fresh lines of cash and cut costs due to rising commodity prices.

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  Reuters | Aug 29, 2022

  Arrival To Delay Spending On Bus Project After Posting Wider Loss

  British electric vehicle start-up Arrival SA reported a wider quarterly loss on Thursday and said it would delay spending on its bus project as it looks to secure more capital, sending its U.S-listed shares down 13%.

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  Reuters | Aug 29, 2022

  India Shares Close At Near 4-Month High As Metals, Autos Gain

  Indian shares closed at a near four-month high on Monday, led by metals and automobile stocks, as cooling oil prices and strong buying from foreign investors lifted sentiment.

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  Reuters | Aug 29, 2022

  Two Lawmakers Ask U.S. Regulator About Tesla Crashes, Safety Probes

  Two U.S. lawmakers who chair subcommittees overseeing auto safety asked the federal auto safety regulator for a briefing on its probes into crashes involving Tesla Inc electric vehicles using Autopilot and advanced driver assistance systems, according to a letter seen by Reuters.

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