Auto Industry News

Porsche AG, part of the Volkswagen Group, profits from being part of Volkswagen, its CEO Oliver Blume said on Wednesday, following speculation that an IPO of the luxury unit could be on the cards.

China's auto sales fell in October for a sixth consecutive month, slumping 9.4% from a year earlier, industry data showed on Wednesday, as a prolonged global shortage of semiconductors disrupts production.

China Evergrande's electric vehicle unit said on Wednesday it plans to sell HK$500 million ($64.2 million) worth of shares to fund production of new-energy cars, including those made by its Hengchi brand.

Taiwan Semiconductor Manufacturing Co (TSMC) said on Tuesday it will set up a new chip factory in the island's southern city of Kaohsiung as the world's largest contract chip maker bids to boost production amid a global chip shortage.

With India commemorating Swarnim Vijay Varsh in 2021, twenty iconic cars will be auctioned on the occasion.

Tesla Chief Executive Elon Musk sold about $5 billion in shares, the billionaire reported in filings on Wednesday, just days after he polled Twitter users about selling 10% of his stake.

Japan's Subaru Corp on Thursday unveiled it first all-electric vehicle (EV), the Solterra, the result of a two-year joint development project with its biggest shareholder Toyota Motor Corp.

Speaking during the launch of the new-gen Celerio, Kenichi Ayukawa, MD, and CEO, Maruti Suzuki said that while there may be some supply side constraints in the short term, owing to shortage of electronic components, the medium and long term India story continues to look promising.