Auto Industry News

Oil futures fell over 3% on a tentative agreement that would avert a U.S. rail strike, expectations for weaker global demand and continued U.S. dollar strength ahead of a potentially large interest rate increase.

Kenya scrapped a subsidy on petrol a day after new President William Ruto said subsidies were unsustainable.

Magna is investing $77 million in India's EV startup Yulu to enter the micromobility market.

Oil edged up 1% as an international energy watchdog expects an increase in gas-to-oil switching due to high prices this winter.

Musk accused Twitter of fraud by concealing serious flaws in the social media company's data security.

Compass Minerals will use a lithium extraction technology developed by EnergySource Minerals LLC to produce the electric vehicle battery metal for Ford & others.

Indian shares dropped nearly 2% to register a weekly decline, dragged by a sharp fall automobile stocks.

Ecuador reached a preliminary agreement with indigenous groups to declare a temporary moratorium on 16 oil blocks, Energy and Mining Minister Xavier Vera said, a turning point in negotiations aimed at staving off renewed street protests.