Auto Industry News

India's fuel demand rose to a three-year high in March, with petrol sales hitting an all-time peak, as the market accumulated supplies foreseeing price spikes.

Tata Power said that BlackRock Real Assets and Abu Dhabi's Mubadala Investment Company would invest Rs. 4000 crore ($525.76 million) in the company's renewable energy unit for a 10.53% stake.

A spike in demand for electric vehicles (EV) in the global markets is encouraging automakers such Tesla Inc, Volkswagen and Stellantis NV to secure raw materials needed for making batteries.

HDFC Bank and some foreign banks have stopped offering trade credit for oil imports to Nayara Energy, a Russian-backed refiner, and some suppliers are seeking payment upfront to avoid potential problems resulting from western sanctions against Moscow

Indian Oil Corp, the country's top refiner, has purchased a total of 7 million barrels of crude via tenders for May and June loading

Japan's Honda Motor Co Ltd plans to spend $64 billion on research and development over the next decade, the company said on Tuesday, laying out an ambitious target to roll out 30 electric vehicle models globally by 2030.

The report further states that Tata Motors intends to invest an additional Rs 2,000 crore and wants to achieve this 2 lakh EVs manufacturing milestone by 2026.

The stock market flotation could value Mobileye at as much as $50 billion.