Auto Industry News

Oil prices gained about 3% as positive U.S. economic data and robust U.S. fuel consumption offset concerns that slowing economic growth in other countries could undercut demand.

U.S. stocks jumped to a sharply higher close and Treasury yields touched two-week highs on Wednesday.

Semiconductor stocks fell globally as an expected visit by U.S. House of Representatives Speaker Nancy Pelosi to Taiwan fueled a fresh escalation in tensions between Washington and Beijing.

India opened its first factory to produce ethanol from rice straw or stubble on Wednesday as part of measures to reduce its reliance on oil imports and meet its net zero carbon goal.

"I have too much work on my plate that is for sure," Musk said by videolink to a business conference on the sidelines of the G20 summit in Bali.

The Serbian government has agreed to provide funding of up to 419 million euros ($431 million) including grants and tax incentives to support the project, InoBat said.

According to the agreement, Infineon will reserve production capacity and supply the power semiconductors directly to Stellantis suppliers

Tata Motors said it expects profit and cash flow to bounce back in the second half thanks to healthy demand for its Jaguar Land Rover cars.