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The Serbian government has agreed to provide funding of up to 419 million euros ($431 million) including grants and tax incentives to support the project, InoBat said.

According to the agreement, Infineon will reserve production capacity and supply the power semiconductors directly to Stellantis suppliers

BYD said it would launch a new premium brand in the first quarter of 2023 under the name Yangwang, with its first model slated to be an off-road vehicle.

Tata Motors said it expects profit and cash flow to bounce back in the second half thanks to healthy demand for its Jaguar Land Rover cars.

Mahindra reported a better-than-expected second-quarter profit, driven by strong demand for its passenger vehicles and farm equipment.

Tesla said it will assist Chinese police investigating a crash involving one of its Model Y cars.

India wants countries to agree to phase down all fossil fuels at the COP27 climate summit in Egypt, rather than a narrower deal to phase down coal as was agreed last year.

Indian shares fell, weighed by auto and metal companies.