Oil prices slumped after cases of the Omicron coronavirus variant in Europe and the United States stoked investor worries that new restrictions to combat its spread could dent fuel demand.
Czech car makers will produce quarter a million fewer cars than expected this year due to the global shortage of chips and the automotive sector will lose 200 billion crowns ($9.14 billion) in sales, the Auto Industry Association (AutoSAP) said.
Taiwan's TSMC and Japan's Sony Group Corp are considering jointly building a chip factory in Japan, with the government ready to pay for some of the investment of about 800 billion yen ($7.15 billion).
The organiser of the Geneva International Motor Show (GIMS) have announced that the 2022 edition of the show will be cancelled, due to issues relating to the COVID-19 pandemic. The motor show has been cancelled for the third time.
Mercedes-Benz India, in collaboration with the Bharat Vikas Parishad (BVP) to set up an oxygen plant at the Seth Tarachand Hospital, in Pune, Maharashtra. The new oxygen plant will come with a capacity of 280 litres/minute and is expected to support at least 200 beds at the hospital.
The commercial vehicle space was one of the more badly affected segments due to the COVID-19 pandemic, however, with the gradual reopening of the economies the CV industry too started to recover. However experts believe real growth is still a bit far away.
Tesla Inc temporarily halted some operations at its Shanghai factory last month as the global shortage of semiconductors hit the electric car maker, Bloomberg News reported on Thursday, citing people familiar with the matter.
India's top car maker Maruti Suzuki expects production at its plants in the states of Haryana and Gujarat to be impacted in September due to a shortage of semiconductors, it said on Tuesday.
Home-grown utility vehicle manufacture, Force Motors, has announced delivering 200 units of its multi-utility vehicle, the Trax Toofan, to the Revenue and Forest department of Maharashtra.
