Auto Industry News

Responding to a Twitter user, Tesla CEO Elon Musk, said that Tesla will not put up a manufacturing unit in any location unless it is allowed to sell and service cars first. But the Indian govt. hasn't stopped the company from selling fully imported cars in India.

Hit hard by rising oil prices, India has expedited efforts to boost local output of oil and a transition to alternative fuels to cut its import bill. The source said India has been mixing about 10.5% ethanol with gasoline for the last three months.

Crude oil imports increased by about 9.7% from March and were up about 14.3% from a year earlier at 20.87 million tonnes, the highest since October 2018, according to Petroleum Planning and Analysis Cell data on Friday.

State monopoly Nepal Oil Corporation (NOC) said in a statement that the price for one litre of petrol was raised 5.8% to 180 Nepali rupees ($1.45) from 170 rupees a week earlier.

Iraq's federal court has deemed an oil and gas law regulating the oil industry in Iraqi Kurdistan unconstitutional and demanded that Kurdish authorities hand over their crude supplies.

Norwegian firms Telenor, Aker ASA and Cognite say a new software security company they plan to launch this year will help companies protect their industrial assets from an increased cyber attack risk since Russia's invasion of Ukraine.

U.S. petrol stocks fell by 482,000 barrels last week to 219.7 million barrels, U.S. Energy Information Administration said on Wednesday. The start of summer driving season in the United States normally entails increased consumption.

"Semiconductor supply is still very short, the situation is very similar to that of 2021. I would say 2022 would not bring a major improvement," Chief Executive Carlos Tavares said at an event in Como to promote Alfa Romeo's new sport utility vehicle (SUV) , the Tonale.