Auto Industry News

Indian bikemaker Hero MotoCorp said it would partner with state-run Hindustan Petroleum Corp to set up electric vehicle (EV) charging infrastructure across the country.

Chinese electric vehicle (EV) maker Zhejiang Leapmotor Technology is set to raise $800 million by pricing its shares at HK$48 ($6.12) each in its Hong Kong initial public offering (IPO), said two sources with direct knowledge of the matter.

Indian shares stayed rooted to two-month lows, with gains in IT and consumer companies offset by losses in auto and metal stocks, as worries over economic growth festered ahead of the central bank's policy decision later this week.

U.S. Vice President Kamala Harris told South Korea's prime minister that Washington will work to address Seoul's concerns over recently enacted electric vehicle (EV) subsidies that could disadvantage Asian automakers.

The U.S. Transportation Department (USDOT) said it has approved the electric vehicle charging station plans for all 50 states, Washington and Puerto Rico covering about 75,000 miles (120,700 kms) of highways.

Truckmaker Iveco Group said it had agreed, through its engine unit FPT Industrial, to buy a minority stake in India's Blue Energy Motors, a start-up developing clean energy trucks.

Hertz Global Holdings Inc said it has partnered with a unit of oil giant BP to install electric vehicle (EV) charging stations across North America to power its fleet of eco-friendly cars.

Canada's BlackBerry Ltd reported a fall in cybersecurity revenue for the second quarter, as customers reined in spending due to an uncertain macroeconomic environment, sending its shares down about 3% in extended trading.