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Indian shares closed at a near four-month high on Monday, led by metals and automobile stocks, as cooling oil prices and strong buying from foreign investors lifted sentiment.

Two U.S. lawmakers who chair subcommittees overseeing auto safety asked the federal auto safety regulator for a briefing on its probes into crashes involving Tesla Inc electric vehicles using Autopilot and advanced driver assistance systems, according to a letter seen by Reuters.

The European Union and South Korea have raised concerns about proposed U.S. tax credits for purchases of electric vehicles, saying they may discriminate against foreign-made vehicles and breach World Trade Organization (WTO) rules.

China's CATL said it would build a 7.3 billion euro ($7.6 billion) battery plant in Hungary, Europe's largest so far, as the world's biggest electric vehicle battery maker gears up to meet growing demand from global automakers.

Oil prices plunged around 2%, on expectations that supply disruptions in the U.S. Gulf of Mexico would be short-term, while recession fears clouded the demand outlook.

India's Nayara Energy, part owned by Russian oil major RosneftMM>, posted a record quarterly profit in April-June as its margins improved due to higher intake of discounted Russian oil and fuel exports.

U.S. automakers and dealers are scrambling to figure out if they can still offer $7,500 tax credits to would-be buyers of electric vehicles (EVs).

Fisker Inc said it was exploring options to manufacture in the United States in 2024 and was considering ramping up production of its first vehicle, the Ocean SUV, in the second half of 2023.