Auto Industry News

Oil prices rose on expectations that OPEC+ will discuss output cuts at a meeting on Sept. 5, though concern over China's COVID-19 curbs and weakness in the global economy loomed over the market.

Vision Fund's early-stage talks with GoMechanic are being held around a valuation of $600-700 million, with Malaysian sovereign fund Khazanah and existing investor Tiger Global also planning to invest in the $100 million funding round.

Paris's town hall decision to make gasoline-fueled motorcycles pay for parking kicked in this Thursday, triggering reactions from riders ranging from resignation to dissatisfaction.

China has said that automakers must apply for licences to collect geographic data using sensors on their intelligent vehicles.

Musk has sent an additional letter of deal termination to Twitter Inc to include a recent whistleblower complaint.

Polestar's revenue nearly doubled in the first half of 2022 on soaring demand and it may have to raise its prices further if material costs continue to rise.

Bosch will invest more than $200 million to produce fuel cell stacks in its South Carolina facility, as the German auto supplier accelerates its transition to electrification.

Oil prices climbed on bets that OPEC+ will discuss output cuts at a meeting on Sept. 5, though fears of China's COVID-19 curbs and weak global growth continued to limit gains and a potential cap on the price of Russian exports loomed.