Auto Industry News

CH-AUTO Technology Corp Ltd said it had agreed to go public with a U.S. blank-check firm in a deal valued at nearly $1.7 billion.

Ukrainian Finance Minister Serhiy Marchenko called for a complete international embargo on Russian oil and gas over Moscow's invasion of Ukraine.

Nexcharge, a JV between Indian battery maker Exide Industries and Switzerland's Leclanche SA, will scale up production at its lithium-ion battery plant to 100% within four years.

Volkswagen AG and partners will invest 10 billion euros to make electric vehicles and batteries in Spain.

India defended its continued purchases of Russian oil saying they were part of its long-standing effort to diversify its supplies and arguing a sudden halt to imports would jack up world prices and hurt its consumers.

Reliance Industries Ltd, India's most valuable company, reported a 22.5% surge in fourth-quarter profit, helped by higher fuel demand and margins at its mainstay energy business.

Oil prices edged uo on supply worries after the European Union (EU) laid out plans for new sanctions against Russia including an embargo on crude.

Oil prices fell by more than 2% as demand worries stemming from China's prolonged COVID-19 lockdowns outweighed the prospect of a European embargo on Russian crude.