Auto Industry News

A majority of Twitter Inc's shareholders have voted in favor of the social media company's $44 billion sale to Elon Musk, people familiar with the tally said.

U.S. power chip maker Wolfspeed Inc said it will build a new multi-billion dollar factory in Chatham County, North Carolina to make the raw materials used for chips that power things like electric vehicles as demand surges.

U.S. power chip maker Wolfspeed Inc said it will build a new multi-billion dollar factory in Chatham County, North Carolina to make the raw materials used for chips that power things like electric vehicles as demand surges.

Brazilian President Jair Bolsonaro's move to sharply cut taxes on fuels, particularly gasoline, to boost his reelection chances has squeezed ethanol's profit margins and is expected to lead mills to shun the biofuel and focus strongly on sugar.

Vedanta Ltd and Taiwan's Foxconn will invest $19.5 billion under pacts signed to set up semiconductor and display production plants in Gujarat, the home state of Indian Prime Minister Narendra Modi.

Autonomous vehicle (AV) startups have raised tens of billions of dollars based on promises to develop truly self-driving cars, but industry executives and experts say remote human supervisors may be needed permanently to help robot drivers in trouble.

Michigan-based startup Our Next Energy has unveiled a new anode-free battery pack designed to slash cell cost as much as 50% while delivering up to 600 miles (965 km) of driving range, the company said.

U.S. Deputy Treasury Secretary Wally Adeyemo said he was hopeful that China and India would join the coalition of countries seeking to impose a price cap on Russian oil or simply use the cap to buy Russian oil at a cheaper price.