Auto Industry News

The Indian rupee trimmed early gains against the U.S. currency on Thursday, weighed down by dollar demand from importers and oil companies.

Wall Street equity indexes closed higher as some investors bet that August data would show easing U.S. inflation while others were encouraged by news that Ukraine had made progress against Russia in a war that has hurt the global economy.

Taiwanese battery maker ProLogium Technology Co has shortlisted four European countries - France, Germany, Poland and the United Kingdom - for an $8 billion solid-state lithium battery plant, consulting firm Accuracy said.

Israeli startup StoreDot has shipped production-ready samples of its fast-charge electric vehicle battery cells to strategic partners and potential customers as it moves closer to a planned 2024 production date, the company said.

Indian shares ended lower, dragged by auto stocks, while a weaker broader market weighed on sentiment.

Auto parts supplier Aptiv Plc said it would acquire a majority stake in a unit of Italy' Intercable for 595 million euros ($605.71 million), allowing the U.S. company access to technology used in electric vehicles (EVs).

India's Vedanta does not see any funding problems for a $19.5 billion semiconductor venture with Taiwan's Foxconn, its chairman told CNBC-TV18, adding he hoped the project would foster local electronics clusters.

Vedanta Ltd has selected Indian Prime Minister Narendra Modi's home state of Gujarat for its semiconductor project, two sources told Reuters, the first major step in its $20 billion joint venture with Taiwan's Foxconn.