Auto Industry News

The plant had scheduled five days of summer shutdown next week, and added two additional days due to a global semiconductor shortage, Toyota said. The seven days of closures are unrelated to the heat wave, the spokesperson added.

The facility will house advanced labs and high-tech equipment for battery innovation, and is part of India's push towards becoming a global electric vehicle hub, said Bhavish Aggarwal, founder and chief executive of Ola Electric.

Kathaleen McCormick took over the role of chancellor, or chief judge, last year after the retirement of Andre Bouchard on the Court of Chancery, a favored venue for large corporate disputes.

The company has planned to sue Musk to force him to complete the deal, a threat he laughed off on Monday, when he sent a series of tweets joking about Twitter and its threat to enforce the agreement in court. Twitter is planning to file a lawsuit early this week in Delaware, people familiar with the matter told Reuters.

The company's plan, which was disclosed in a filing, comes as the world's richest person prepares for a legal showdown with Twitter in October for walking away from his offer to buy the social media company.

Lawsuit seeking to hold Elon Musk to his $44 billion takeover will go to trial in October.

Tesla in a filing in federal court in Austin, Texas, where the company is based, said the workers who were terminated signed valid agreements to bring employment-related legal disputes in arbitration and to refrain from participating in class-action lawsuits.

The market was rattled earlier in the session by news that China had discovered its first case of a highly transmissible Omicron subvariant in Shanghai that could lead to another round of mass testing, which would hurt fuel demand.