Auto Industry News

Crude prices had surged on Wednesday, with Brent climbing above $90 a barrel for the first time in seven years amid tensions between Russia and the West.

The consortium, which includes private equity firms SJL Partners and BNW Investment, invested $33 million in Nexeon last November.

Stellantis said it was planning to increase to 75% its stake in the joint venture with Guangzhou Automobile Group (GAC), which produces Jeep-branded vehicles. GAC rebuked Stellantis for announcing plans to increase a stake in their joint venture without the Chinese automaker's approval.

Renault SA, Nissan Motor Co and Mitsubishi Motors together will increase the number of common platforms for EVs to five from four, and by 2030 they plan to have a combined EV line up of 35 vehicles.

The deal remains subject to approval by the Chinese government, but Stellantis, plans to increase its stake to 75% as part of its efforts to tackle one of the weak spots in its business.

The upbeat outlook from CEO Elon Musk came after the world's most valuable automaker posted record quarterly revenue that beat Wall Street expectations.

Driving in heavy traffic is an art that's not hard to master.

Miniature sensors that control vehicle performance are built in such a way that they can function adequately while being mounted directly on rolling tyres. They must be sensitive enough to take measurements while moving and durable enough to endure the environment.