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Auto Industry
Reuters
Aug 29, 2022, 9:53 PM
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.
1 Min
Reuters | Aug 29, 2022Arrival To Delay Spending On Bus Project After Posting Wider LossBritish 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%.1 min read
Reuters | Aug 29, 2022India Shares Close At Near 4-Month High As Metals, Autos GainIndian 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.2 mins read
Reuters | Aug 29, 2022Two Lawmakers Ask U.S. Regulator About Tesla Crashes, Safety ProbesTwo 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.2 mins read
Reuters | Aug 29, 2022EU, South Korea Say U.S. Plan For EV Tax Breaks May Breach WTO RulesThe European Union and South Korea have raised concerns about proposed U.S. tax credits for purchases of electric vehicles, saying they may discriminate against foreign-made vehicles and breach World Trade Organization (WTO) rules.3 mins read
Reuters | Aug 29, 2022China's CATL To Build $7.6 Billion Hungary Battery Plant To Supply Mercedes, BMWChina's CATL said it would build a 7.3 billion euro ($7.6 billion) battery plant in Hungary, Europe's largest so far, as the world's biggest electric vehicle battery maker gears up to meet growing demand from global automakers.2 mins read
Reuters | Aug 29, 2022Oil Falls 2% On Expectations That U.S. Gulf Supply Disruption Will EaseOil prices plunged around 2%, on expectations that supply disruptions in the U.S. Gulf of Mexico would be short-term, while recession fears clouded the demand outlook.2 mins read
Reuters | Aug 29, 2022Russia-Backed Indian Refiner Nayara Energy Posts Record ProfitIndia's Nayara Energy, part owned by Russian oil major RosneftMM>, posted a record quarterly profit in April-June as its margins improved due to higher intake of discounted Russian oil and fuel exports.2 mins read
Reuters | Aug 29, 2022Automakers Scramble To Decode New U.S. EV Tax CreditsU.S. automakers and dealers are scrambling to figure out if they can still offer $7,500 tax credits to would-be buyers of electric vehicles (EVs).1 min read
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