Auto Industry News

Higher-than-expected jobs additions in September and an unexpected dip in the unemployment rate cemented bets of another 75 basis points Fed rate hike next month, pressuring the rupee.

The French energy ministry said it was requisitioning some staff at the Gravenchon-Port Jerome depot run by Exxon's Esso France business, where the hardline CGT remains on strike despite a pay deal with other unions.

The discovery of the leak in the main route carrying oil to Germany, which operator PERN said it found on Tuesday evening, comes as Europe is on high alert over its energy security.

Brent crude futures for December delivery rose $2.12 to $94.57 a barrel, a 2.29 per cent gain. U.S. crude rose $1.84, or 2.1 per cent, to $89.11 per barrel.

Honda and LG are initially committing to investing $3.5 billion and creating 2,200 jobs but said the overall investment is projected to reach $4.4 billion.

Kavak plans to invest $130 million over the next two years in the three Middle-Eastern countries, which are set to represent 7-10% of its business.

PepsiCo said in a statement that the trucks would be used at its Frito-Lay plant in Modesto, California, and its PepsiCo beverages factory in Sacramento. PepsiCo has been aiming to reduce fuel costs and emissions, and reserved 100 of the trucks in 2017.

This is the first deployment of lithium titanium oxide (LTO) cells into commercial delivery vans and will help EVage vehicles with battery safety and performance, the companies said.