Auto Industry News

Coronavirus, war in Ukraine, Brexit and a container ship wedged in the Suez Canal have combined to delay deliveries.

South Korean battery makers have stepped up their U.S. investment ambitions and cumulative spending announcements since 2018 now total some $13 billion.

ECARX Holdings said it would go public through a merger with a blank-check firm in a deal that values it at $3.82 billion.

Volkswagen CEO Herbert Diess said he sees "clear improvement" in semiconductor supplies and expects the automaker's global production can recover during the rest of this year.

David Gressly, the UN Resident and Humanitarian Coordinator for Yemen, said he hoped a donors conference held with the support of Netherlands in the Hague would quickly mobilise funds to avert a catastrophe on the Red Sea coast and its region.

A pending European Union ban on oil from Russia, a key supplier of crude and fuels to the bloc, is anticipated to further tighten global supplies.

Russia's share in India's oil purchases rose to a record 6%, about 277,000 barrels per day (bpd) in April, up from about 66,000 bpd in March, when it was in 10th position, according to the data, which was supplied by trade sources.

Responding to a Twitter user, Tesla CEO Elon Musk, said that Tesla will not put up a manufacturing unit in any location unless it is allowed to sell and service cars first. But the Indian govt. hasn't stopped the company from selling fully imported cars in India.