Auto Industry News

Oil prices were down about 5% in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) cut its economic growth forecasts and warned of higher inflation.

Elon Musk's recent musings that high lithium prices may force Tesla Inc to make its own supply of the electric vehicle battery metal have fueled hopes by some that the billionaire entrepreneur will instead opt for a buyout of an established mining company.

Indian shares touched three-week lows on Monday, hammered by losses in IT stocks after Infosys crashed 9% on missing March-quarter profit estimates, while inflation concerns globally also weighed on investors' sentiment.

India has bought more than twice as much crude oil from Russia in the two months since its invasion of Ukraine as it did in the whole of 2021.

Uber Technologies Inc's subsidiary in the Middle East, Careem, says it is in talks with authorities in Saudi Arabia to ease restrictions, including those that have limited driver numbers and led to long waits for rides.

Oil prices settled higher after an early decline as investors covered short positions ahead of the long weekend and on news that the European Union might phase in a ban on Russian oil imports.

With this initiative, JLR plans to form new partnerships with start-ups, scale-ups and like-minded external organisations, and work on electrification, connectivity, digital services, metaverse, intelligent enterprise, manufacturing, supply chain and sustainability

Despite a decline in domestic and overseas sales in the quarter, Bajaj reported highest ever annual turnover, and highest-ever annual exports in FY 2022.