Auto Industry News

Indian automaker Mahindra & Mahindra is in talks with global investors to raise between $250 million and $500 million to accelerate its plans to build electric vehicles (EVs), a source with direct knowledge of the matter told Reuters.

Oil prices rose for a second day, rebounding from recent losses as the U.S. dollar eased off recent gains and U.S. fuel inventory figures showed larger-than-expected drawdowns and a rebound in consumer demand.

Carmaker Stellantis and Uber announced a partnership along with the company Free2Move to focus on the French electric vehicles market.

German air taxi developer Lilium Air Mobility plans to set up industrial capacity to make some 400 of its electrically powered Lilium Jet flying shuttles a year, while tapping schemes that provide public research support, its new chief executive said.

A group of European Union countries are pushing Brussels to produce plans this week for a bloc-wide cap on the price of gas, according to a letter seen by Reuters late.

Greece has proposed a multibillion-euro European fund partly financed by a gas levy on power producers to support households and businesses struggling with soaring energy costs and help Europe replace Russian gas, its energy ministry said.

Vice President Kamala Harris will meet in Japan with heads of semiconductor-related businesses as the Biden administration works to boost U.S. chips manufacturing, according to a senior administration official.

Brazil's Eve Holding Inc said that Blade India has signed a purchase order for up to 200 of its electric vertical take-off and landing (eVTOLs), allowing it to expand its urban air mobility ecosystem in the Asian country.