Auto Industry
Reuters
Nov 28, 2021, 11:10 PM
The United States said it would release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain to try to cool prices after OPEC+ ignored calls to pump more.
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Reuters | Nov 28, 2021Oil Dips, Focus On OPEC+ Response To U.S.-Led Oil ReleaseOPEC expects the U.S. release to swell a surplus in oil markets by 1.1 million barrels per day (bpd), a source from the group said.1 min read
Reuters | Nov 28, 2021South Korea's SK On To Invest $2.5 Billion To Build New EV Battery Factory In ChinaThe company had said in September it planned to build a new battery factory in China with an initial investment of 1.2 trillion won ($1.01 billion).1 min read
Reuters | Nov 28, 2021China Evergrande EV Unit To Raise $347 Million From Share Sale To Fund ProductionChina Evergrande New Energy Vehicle Group Ltd will issue about 900 million shares at HK$3 apiece through a top-up placement to controlling shareholder Evergrande Health Industry Holdings Ltd, after striking a similar deal with it last week.1 min read
Reuters | Nov 28, 2021Sharp Swings In EV Shares Draws Frenzied Options TradingSentiment in the electric-vehicle makers' options leaned toward bearish and defensive bets on Wednesday, according to Trade Alert data.1 min read
car&bike Team | Nov 28, 2021Australia Bumps Up Investment In EV Chargers, Shuns Sales TargetsThe additional investment, which adds to an existing A$72 million commitment and will be spent by the end of June 2025, will also aid purchases of electric cars and buses for government and business fleets.1 min read
Reuters | Nov 28, 2021Rivian Valued At Over $100 Billion In Debut, After World's Biggest IPO Of 2021Despite just having started selling vehicles and having little revenue to report, Rivian ranked ahead of General Motors Co at $86.05 billion, Ford Motor Co at $77.37 billion, and Lucid Group at $65.96 billion.1 min read
car&bike Team | Nov 28, 2021Volkswagen Plans Farewell To Legendary Santana Model In ChinaVolkswagen AG's joint venture with SAIC Motor will end production of the Santana, Skoda's Rapid and a current version of Tharu sport-utility vehicles (SUV) at its plant in the eastern city of Yizheng.1 min read
Reuters | Nov 28, 2021Startup Italvolt Signs Deal With Engie's Equans In Italy Battery Facility PlanItalvolt has pledged to invest 3.4 billion euros ($3.9 billion) to build a battery production facility in Scarmagno, near Turin, to meet growing demand for lithium-ion batteries from Europe's automotive industry.1 min read
