Auto Industry News

Carmaker to reveal specifications for India-bound model at the Auto Expo in January.

The Group of Seven nations should soon announce the price cap on Russian oil exports and the coalition will probably adjust the level a few times a year rather than monthly.

India hopes to convert the current global oil challenges from the Ukraine crisis into an opportunity to secure affordable energy, Oil Minister Hardeep Singh Puri said.

The $430 billion U.S. Inflation Reduction Act (IRA) passed in August ended $7,500 consumer tax credits for electric vehicles assembled outside North America, sparking anger from South Korea, the European Union, Japan and others.

This comes in addition to a previously announced 4,000 yuan insurance subsidy, but is only applicable for customers buying a current car model and completing delivery by the end of December.

The lease program will require customers to opt in for a service expected to bring monthly lease payments down by 10%, Toyota's leasing affiliate said.

VinFast, which began operations in 2019, is gearing up to expand in the U.S. market, where it hopes to compete with legacy automakers and startups with its two all-electric SUVs, the VF8 and VF9, including battery leasing to reduce the purchase price.

The United Auto Workers (UAW) union called on automakers to shift their entire supply chain out of China's Xinjiang region after a new report on Tuesday suggests that nearly every major automaker has significant exposure to products made with forced labor.