Auto Industry News

Oil prices settled sharply lower on Wednesday, slumping below levels seen prior to Russia's invasion of Ukraine as downbeat Chinese trade data fed investor worries about recession risks.

U.S.-based 3D printer maker Desktop Metal Inc plans to unveil as early as a new technology that will dramatically simplify the industrial sheet metal production process, Chief Executive Officer Ric Fulop told Reuters.

According to the report, the Mercedes-Benz GLC that Cyrus and his friends were travelling in, was going at 100 kmph five seconds before the accident.

Global stocks rallied after recent losses as benchmark U.S. Treasury yields eased from three-month highs and oil prices fell below $90 a barrel.

The $258 billion racketeering lawsuit accusing Elon Musk of running a pyramid scheme to support the cryptocurrency Dogecoin has expanded, adding seven new investor plaintiffs and six new defendants including his tunnel construction business Boring Co.

Amazon.com Inc said it has removed from its Indian marketplace listings of products that disable car seatbelt alarms, a day after the country's transport minister said he had asked the company to act against such devices.

Italy's main business lobby group Confindustria is in talks with the government about potential gas rationing, the head of the organisation said.

Silicon Valley startup SiFive Inc launched three new products aimed at the automotive market, which is emerging as one of the hottest areas for chip makers with electric and self-driving cars expected to boost the number of chips needed.