Auto Industry News

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.

The OPEC+ group of producers, including Russia, on Thursday agreed to stick to its output strategy after two days of meetings. The producer club avoided discussing policy from September onwards.

As per reports, the rider was flagged down for riding in the wrong direction on a one-way street and subsequently paid a Rs 250 fine on the spot.

Nasdaq closed lower on Monday after a choppy session for U.S. equities ahead of a big week of technology earnings reports while oil prices rose and treasury yields edged higher as investors braced for a Federal Reserve interest rate hike.

Oil prices have been extremely volatile, caught in a tug-of-war between supply fears caused by Western sanctions on Russia and worries that the fight against inflation could weaken the global economy and cut demand.

U.S. Treasury Secretary Janet Yellen described as "encouraging" talks with India about a proposed price cap on Russian oil that Washington is pushing to drive down oil prices and make it harder for Moscow to fund its war in Ukraine.

Tesla supplier LG Energy Solution Ltd (LGES) said it was looking at sites in Europe for a new battery plant and would ramp up production in Asia outside of China, where COVID lockdowns and rising costs were weighing on profits.