Auto Industry News

The proposed loan issuance got a staggering response from investors with interest and commitment of about $1.5 billion, the Bengaluru-based company said.

General Motors, Alphabet Inc.'s Google and its self-driving auto-technology company Waymo joined the companies no longer attending the Consumer Electronics Show (CES) in person early next month due to rising COVID-19 infections.

The agency said the decision to open the investigation was based on reports "Tesla's gameplay functionality is visible from the driver's seat and can be enabled while driving the vehicle."

Governments and investors want car manufacturers to speed up the transition to electric vehicles, but the costs are "beyond the limits" of what the auto industry can sustain, said Chief Executive Carlos Tavares.

U.S. inventories fell more than expected, with crude stocks down by 4.7 million barrels, though that is in part due to year-end tax considerations that encourage companies not to store crude barrels.

Lucid's deal with veteran dealmaker Michael Klein's blank-check firm earlier this year gave the combined company a pro-forma equity value of $24 billion, making it one of the biggest deals with Special Purpose Acquisition Companies (SPACs).

Canoo said starting production in Oklahoma remains on track for late 2023, but it also now expects to begin building electric vehicles in Arkansas next year, instead of using the VDL Nedcar plant.

On Wednesday, Musk sold another 934,091 shares, bringing the total he has offloaded to 14.77 million - nearly 90% of the 17 million or so shares he had been expected to sell.