Auto Industry News

Brent futures rose 69 cents to settle at $90.03 a barrel, after hitting $91.70, the highest level since October 2014. U.S. crude closed 21 cents higher at $86.82 per barrel, after hitting a seven-year peak of $88.84 during the session.

Sales of EVs in the United States jumped to a record high earlier this month with 434,879 new units on the road, however, demand for their hybrid counterparts remained strong as many customers withdrew from EVs due to higher prices, limited driving range and fewer charging stations than required.

The global benchmark rose to $89.17 on Wednesday, its highest level since October 2014; the benchmark is up 13% on the year so far.

Brent crude futures settled up 93 cents, or 1.1%, at $88.44 a barrel. The global benchmark earlier touched $89.13, its highest level since Oct. 13, 2014.

Blink said it would collaborate with facility solutions provider ABM Industries to supply its IQ 200 Level 2 chargers to dealerships across North America.

The proposal, known as the European Chips Act, will aim to adapt state aid rules, improve tools to anticipate shortages and crisis and strengthen research capacity in the bloc.

Renault is "relatively confident" about its business year but still sees some problems over chips supplies which it expects to be felt mostly in the first half of 2022, said CEO Luca de Meo.

The Qualcomm chips will provide the computing power for the all-electric Celestiq, the company's planned flagship sedan.