Auto Industry News
Indian Luxury Car Dealer Landmark IPO Oversubscribed By Threefold Shares On Offer
Investors bid for 24.6 million shares by the final day of bidding, 3.1 times the 8 million shares on offer, exchange data showed.
Nikola Founder Seeks New Trial, Says Juror Concealed Bias Against Wealthy
Dec 31, 2022 05:25 PM
Milton told U.S. District Judge Edgardo Ramos in court papers that the juror's Twitter and Facebook pages were "riddled with attacks on wealthy executives"
Faraday Future Slides On Signaling Need For Funds To Start Production
Dec 31, 2022 05:25 PM
The company is one of the many EV startups struggling to launch its products as a bleak global growth outlook and a funding squeeze dented production schedules and compounded losses.
Self-Driving Trucking Firm TuSimple Appoints CFO, Reconstitutes Audit Panel
Dec 31, 2022 05:25 PM
The company reappointed former chief executive Cheng Lu as its top boss last month after it fired his predecessor Xiaodi Hou following a probe.
Tesla Plans To Announce Mexico EV Plant Soon - Report
Dec 31, 2022 05:25 PM
The plant will be located in Santa Catarina in Monterrey city, the capital of Nuevo Leon state in Mexico a report said.
LG Energy Solution To Invest $3.1 Billion In S.Korea Battery Facility
Dec 31, 2022 05:25 PM
The project in Ochang, South Korea, will include R&D and production facilities and related infrastructure
Russian Oil Sold To India Below Price Cap In Buyers' Market
Dec 31, 2022 05:25 PM
The European Union ban on imports of Russia's seaborne oil from Dec. 5 has driven Moscow to seek alternative markets, mainly in Asia, for about 1 million barrels per day.
India May Split Planned Mega Refinery To Various Sites - Report
Dec 31, 2022 05:25 PM
Aramco and ADNOC joined a consortium of Indian state-run firms in 2018 to set up a 1.2 million barrels-per-day coastal refinery and petrochemical plant in western Maharashtra, seeking a reliable outlet for their oil.
Kremlin Says It Is Finalising Last Details Of Response To Oil Price Cap
Dec 31, 2022 05:24 PM
Moscow has repeatedly said it will not sell oil to countries that comply with the cap