Auto Industry News

Tesla Inc CEO Elon Musk should sell about 10% of his Tesla stock, according to 57.9% of people who voted on his Twitter poll asking users of the social media network whether he should offload the stake. "I was prepared to accept either outcome," Musk said, after the voting ended.

The company now expects to sell 135 million shares in the range of $72-$74 apiece to raise nearly $10 billion on Nov. 9.

Indian Oil says its new XtraGreen diesel uses a modified DMFA (Diesel Multi-Functional Additive) to lower emissions and improve the vehicle's fuel efficiency.

"I'm delighted to share that Tesla Canada is joining our already robust automotive and technology ecosystem by locating a manufacturing facility in the City of Markham," the city mayor Frank Scarpitti said on Twitter.

The news comes weeks after the head of Apple's car project, Doug Field, joined Ford Motor Co to lead the automaker's advanced technology and embedded systems efforts.

Musk has criticized the proposal, which would affect 700 billionaires and impose taxes for long-term capital gains on tradable assets, whether or not they have been sold.

The campaign group gave Toyota and US-European firm Stellantis "F minus minus" grades for decarbonisation efforts including phasing out engines that burn planet-warming fossil fuels in favour of electric vehicles.

The Delhi government has withdrawn the Rs. 1.5 lakh subsidy on electric cars after it completed sales on 1000 units and the decision comes at a time when Delhi was inching closer to becomes one of the highest EV selling states.