Auto Industry News

Tesla CEO Elon Musk sold $6.9 billion worth of shares, saying the funds could be used to finance a potential Twitter deal if he loses a legal battle with the social media platform.

Nikola Corp said that Lohscheller will take over as the CEO when Mark Russell retires on January 1 next year.

FedEx Office will pilot Ford Motor Co's electric vans to pickup and deliver parcels in some regions, the unit of FedEx Corp said, as part of the delivery giant's move to cut its fleet's tailpipe emissions.

Tesla Inc is lobbying the Ontario government as part of an effort to set up an "advanced manufacturing facility" in Canada, a filing by the electric-vehicle maker to the province's Office of the Integrity Commissioner showed.

Toyota Motor Corp said it would hold to its plan to produce 9.7 million vehicles globally this fiscal year, even as it announced another stoppage related to the spread of COVID-19.

Oil prices settled slightly lower after a see-saw session as worries that a slowing economy could cut demand vied with news that some oil exports had been suspended on the Russia-to-Europe Druzhba pipeline that transits Ukraine.

Firefighters on Tuesday finally overcame what officials described as the worst fire in Cuba's history that over five days destroyed 40% of the Caribbean island's main fuel storage facility and caused massive blackouts.

Oil prices edged lower on expectations that Druzhba pipeline flows will resume shortly and demand concerns ahead of publication of key demand indicators.