Auto Industry News

Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman spoke by phone on Thursday and underlined the importance of further cooperation within the OPEC+ group of oil producers, the Kremlin said.

Silicon Valley battery startup Lyten has hired electric vehicle industry veteran Celina Mikolajczak as chief battery technology officer.

Bitcoin rebounded after a brief sell-off sparked by news that electric carmaker Tesla Inc had sold about 75% of its holdings of the virtual token.

Twitter blamed its ongoing battle to close its $44-billion acquisition by Elon Musk and a weakening digital advertising market for a surprise fall in quarterly revenue and a net loss.

Hyundai Motor Co, factory robot builder ABB and Swedish fridge maker Electrolux see the semi-conductor chip shortage easing.

Oil prices fell more than $3 a barrel on higher U.S. gasoline stockpiles and after a European Central Bank (ECB) rate hike stoked demand worries, while returning oil supply from Libya and the resumption of Russia's gas flows to Europe eased supply restraints.

The European Union is seeking additional gas supplies from Nigeria as the bloc prepares for potential Russian supply cuts.

India refiners' crude processing remained resilient in June, holding above pre-pandemic levels amid steady demand, while production eased with the increased availability of cheaper Russian crude, government data showed on Friday.