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Auto Industry
Reuters
Dec 26, 2021, 4:46 PM
U.S. inventories fell more than expected, with crude stocks down by 4.7 million barrels, though that is in part due to year-end tax considerations that encourage companies not to store crude barrels.
1 Min
Reuters | Dec 26, 2021EV Maker Lucid Gets SEC Subpoena On $24-Billion Blank-Check DealLucid's deal with veteran dealmaker Michael Klein's blank-check firm earlier this year gave the combined company a pro-forma equity value of $24 billion, making it one of the biggest deals with Special Purpose Acquisition Companies (SPACs).1 min read
Reuters | Dec 26, 2021Canoo Revs Up U.S. Electric Vehicle Production Plan As Drops Overseas DealCanoo said starting production in Oklahoma remains on track for late 2023, but it also now expects to begin building electric vehicles in Arkansas next year, instead of using the VDL Nedcar plant.1 min read
Reuters | Dec 26, 2021Elon Musk: I'm Almost Done With Tesla Stock SalesOn Wednesday, Musk sold another 934,091 shares, bringing the total he has offloaded to 14.77 million - nearly 90% of the 17 million or so shares he had been expected to sell.1 min read
Reuters | Dec 26, 2021India's Crude Imports Hit 10-Month Peak As Refiners Bank On Strong DemandCrude oil imports last month rose 7.5% versus October and were also 0.5% higher than a year ago at 18.37 million tonnes, data on the website of the Petroleum Planning and Analysis Cell (PPAC) showed on Thursday.1 min read
Charanpreet Singh | Dec 25, 2021Battrixx To Raise Up To Rs. 301 Crore To Fund Production, New TechnologiesThe company aims to enhance its annual production capacity in phases from the existing 1 lakh battery packs to 7 lakh by end of FY24 to meet the growing demand in the EV industry and other energy storage applications.1 min read
Reuters | Dec 25, 2021Chinese Autonomous Driving Startup Raises $157 Million From Hillhouse, MeituanHaomo will use the funds raised from investors to build its talent pool and enhance its R&D capability, the company said in a statement on Wednesday.1 min read
Reuters | Dec 25, 2021Micron Results Beat Forecasts, Sees Chip Shortages Easing In 2022Micron said data center revenue grew 70% and that automotive revenue grew 25%, with the automotive growth coming from the increasing amount of memory required in cars with advanced driver safety systems.1 min read
Reuters | Dec 25, 2021Musk Says Tesla's Cybertruck Will Have Four-Motor VariantCalling the electric pick-up truck "insane technology bandwagon," Musk said the Cybertruck would have both front and rear-wheel steer that would "not just (turn) like a tank - it can drive diagonally like a crab."1 min read
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