Auto Industry News

Mercedes-Benz is betting that an expanding pool of young new millionaires will drive demand for luxury cars in India, creating faster sales growth than for mass market cars

Electric-vehicle maker Tesla Inc., payments firm Block Inc and blockchain company Blockstream Corp will collaborate to mine bitcoin using solar power in Texas

One of India's leading e-scooter manufacturers - Okinawa Autotech - has issued a recall for 3215 units of its Praise Pro electric scooter to check up on its batteries.

OPEC told the European Union that current and future sanctions on Russia could create one of the worst ever oil supply shocks and it would be impossible to replace those volumes, and signalled it would not pump more.

Tesla Inc was liable to a Black elevator operator who said the electric car company ignored racial abuse at the factory where he worked, but reduced a nearly $137 million jury award to $15 million.

Oil prices fell about 4% on Monday, with Brent crude tumbling below $100 a barrel on worries that the COVID-19 pandemic will cut demand in China and as International Energy Agency (IEA) countries plan to release record volumes of oil from strategic stocks.

Mercedes-Benz aims to produce electric cars consuming as little as 10 kilowatt hours of energy per 100 km

Major global trading houses are planning to reduce crude and fuel purchases from Russia's state-controlled oil companies as early as May 15