Auto Industry News

Spot prices for Russia's key export crude grade ESPO Blend to Asia have rebounded from all-time lows amid strong demand from top buyers India and China and easing concerns about possible sanctions, several traders said.

Gasoline and gasoil sales by Indian state refiners in July fell from a month earlier as monsoon rains restricted mobility and construction work while high inflation curtailed overall demand for goods.

VinFast is looking to hire 8,000 more employees for its electric-vehicle plant in Vietnam as it ramps up production to deliver its first battery-powered SUVs to the United States by the end of this year.

OPEC+ sees this year's oil market as slightly less supplied than previously thought.

Indian Oil Corporation plans to raise funds selling commercial papers maturing in a more than a month.

Bangladesh raised fuel prices by around 50%, a move that will trim the country's subsidy burden but put more pressure on inflation that is already running above 7%.

Chinese chipmakers' shares jumped by the most in two years this week as House of Representatives Speaker Nancy Pelosi's visit to Taiwan heightened tensions with the U.S., driving patriotic bets on a sector Beijing sees as key to its rivalry with Washington.

Vietnam's VinFast is looking to hire 8,000 more employees for its electric-vehicle plant in Vietnam as it ramps up production to deliver its first battery-powered SUVs to the United States by the end of this year, company said.