Auto Industry News

South Korea said it aimed at local sourcing for half of its materials, components and equipment in semiconductor manufacturing by 2030, up from 30% currently.

The auto industry has been ramping up production of electric vehicles (EV) to meet a demand surge, driving up orders for batteries and raw materials such as lithium, cobalt, etc.

General Motors Co has lost nearly $5 billion since 2018 trying to build a robotaxi business in San Francisco, and now as the automaker's Cruise unit starts charging for rides, the losses are accelerating.

The legislation provides about $52 billion in government subsidies for U.S. semiconductor production as well as an investment tax credit for chip plants estimated to be worth $24 billion.

All-electric SUV’s design doesn’t stray far from the eXUV300 concept from the 2020 Auto Expo.

Audi India recently inaugurated a new pre-owned luxury car Audi Approved: plus outlet in Coimbatore, Tamil Nadu.

The incentives, or premiums, paid to buyers of electric cars will expire completely once an allocated sum of 3.4 billion euros ($3.44 billion) from the next two years' budget is spent, according to government sources.

Euro zone recession fears were exacerbated by concerns about an energy crisis in Europe and by Tuesday's data, which showed a sharp slowdown in business growth in June, following Monday's news of a seasonally adjusted May trade deficit in Germany versus expectations for a surplus.