Auto Industry News

Soitec and STMicroelectronics are deepening their cooperation over the manufacturing of a key and fast-growing material used in the electric car industry.

The Biden administration broke its silence on European Union deliberations over a $65-70 per barrel Russian oil price cap, warning far-lower prices cited for some Russian Urals crude shipments should be approached with caution.

Hyundai and SK will build a new battery manufacturing plant in the U.S. state of Georgia to supply the Korean automaker's U.S. assembly plants.

A strike by South Korean truckers is estimated to have cost 1.6 trillion won ($1.23 billion) in lost shipments.

Oil prices settled up by over $2 per barrel on signs of tighter supply, a weaker dollar and optimism over a Chinese demand recovery.

Foxconn's Singapore unit has acquired 4.08 million shares in Foxconn Hon Hai Technology India Mega Development Private Limited for $500 million (Around Rs. 4100 Crore).

The OPEC+ decision to hold its Dec. 4 meeting virtually signals little likelihood of a policy change.

Western governments want to set a maximum purchase price for Russian oil on the world market to limit Moscow’s ability to raise money for its war on Ukraine.