Auto Industry News

Battery Swap Startup Ample Hits Unicorn Status With New Funding Round
The latest funding comes on the heels of a $160 million round in August that boosted the companys valuation to $890 million, according to investor website PitchBook.

Foxconn Finalizes $50 Million Stock Deal With Lordstown Motors
Nov 28, 2021 05:28 PM
Foxconn has bought stock worth $50 million from the U.S. electric vehicle maker, finalizing an equity investment announced in September.

NXP Forecasts Sales Growth Driven By Connected Vehicles
Nov 28, 2021 05:08 PM
NXP Chief Executive Kurt Sievers said the company intended to focus on key areas where more chips are going into cars and where NXP believes it can hold a market position at least twice that of any competitor.

GM To Launch 10 EVs In South Korea By 2025, No Local Manufacturing Plans Yet
Nov 28, 2021 04:48 PM
GM's South Korea unit builds about 600,000 vehicles a year, shipping many to the United States including the popular Chevrolet Trailblazer SUV, and employs about 12,000 people.

BP's Venture Capital Arm Looks To India In Clean Mobility Drive
Nov 28, 2021 04:18 PM
BP is also looking to invest in India's EV charging infrastructure to support BluSmart, as well as battery storage and energy management to solve India's challenges around peak power demand.

Goldman Sachs Says Global Oil Reserves Release 'A Drop In The Ocean'
Nov 28, 2021 04:08 PM
Brent crude prices have also priced in an additional hit to global oil demand of 1.5 million barrels per day for the next three months from the impact of COVID-19 in Europe and China, Goldman said.

Canoo Advances Manufacturing Dates For Electric Vehicles
Nov 28, 2021 03:33 PM
The company now plans to expand to include Arkansas and other locations in Oklahoma, for research and development, software development, customer support and finance centers.

Oil Rises 3% To One-Week High After U.S. Taps Emergency Reserves
Nov 28, 2021 12:50 AM
Brent futures rose $2.61, or 3.3%, to settle at $82.31, while U.S. West Texas Intermediate (WTI) crude rose $1.75, or 2.3%, to settle at $78.50.

India's October Crude Imports Stay Elevated As Consumption Rebounds
Nov 28, 2021 12:37 AM
Imports rose 11.1% to 17.09 million tonnes from the same month a year earlier, according to data on the website of the Petroleum Planning and Analysis Cell.

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