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The talks come as auto manufacturers from Stuttgart to Seoul have been angered by Biden's $430 billion "Inflation Reduction Act", enacted in August and aimed at rolling back climate change and making Washington a world leader in the electric vehicle (EV) market.

U.S., EU Launch Formal Group To Discuss Conflict Over EV Subsidies

Oct 29, 2022 10:23 AM

1 mins read

The talks come as auto manufacturers from Stuttgart to Seoul have been angered by Biden's $430 billion "Inflation Reduction Act", enacted in August and aimed at rolling back climate change and making Washington a world leader in the electric vehicle (EV) market.

Volkswagen No Longer Investing In Self-Driving Startup Argo AI

By Reuters

Oct 29, 2022 10:23 AM

The first outcomes from the partnership between Volkswagen's software unit Cariad and Bosch, announced in January this year, are planned for 2023, the statement said.

Volkswagen No Longer Investing In Self-Driving Startup Argo AI

By Reuters

Oct 29, 2022 10:22 AM

Volkswagen disclosed a $2.6 billion investment in Argo AI, the Pittsburgh-based self-driving startup, in June 2020. Ford has invested in the start-up as well.

Tesla Recalls 24,000 U.S. Vehicles Over Seat Belt Issue

By Reuters

Oct 29, 2022 10:22 AM

The Austin-based electric vehicle company said the second-row left seat belt buckle and second-row center seat belt anchor may have been incorrectly reassembled during vehicle service.

Oil Rises On Strong Crude Demand, Easing Recession Fears: Report

By Reuters

Oct 29, 2022 10:22 AM

Data showed record U.S. crude exports, a hopeful sign for demand. Speculation that central banks could be nearing the end of rate-hiking cycles added support, after the European Central bank raised rates by 75 basis points.

India's Shriram Transport Finance Profit Surges On Higher Interest Income

By Reuters

Oct 29, 2022 10:22 AM

Commercial vehicle sales and financing have seen a resurgence following a pandemic-stirred slump, with improving loan repayments also leading to better asset quality for both bank and non-bank lenders.

Tesla Faces US Criminal Probe Over Self-Driving Claims: Report

By Reuters

Oct 29, 2022 10:22 AM

The U.S. Department of Justice launched the previously undisclosed probe last year following more than a dozen crashes, some of them fatal, involving Tesla's driver assistance system Autopilot, which was activated during the accidents, the people said.