In September, French and German factory activity contracted more than expected, signaling a bleak end to a year in which the sector already suffered from stiff competition from China, fallout from the Ukraine war, and a global economy still in recovery.
A growing number of upper-income Americans are dropping out of the new-car market, according to a report by Bloomberg.
Economic growth in Africa, India, and the Mideast and a slowdown in the transition to electric vehicles (EVs) will raise world oil demand more over the long term than previously expected…
For the second time in two months, the International Energy Agency (IEA) has reduced its 2024 oil demand outlook, once again citing China’s “rapidly slowing” oil usage.
Volkswagen, one of Germany’s iconic car makers, is thinking about doing something it never has: shutting down one of its German factories.
Natron Energy, a $300-million startup developing a novel battery technology based on sodium, has announced plans to build its first commercial-scale factory, a $1.4-billion project in North Carolina.
Fortescue, an Australian energy and metals corporation, has abandoned its commitment to produce 15 tons of “green hydrogen” annually for the ammonia industry by 2030. Founder and executive board chair Andrew Forrest has realized the goal is unrealistic, people familiar told the Financial Times.
German auto companies BMW, Mercedes-Benz, and Volkswagen reported fewer sales in this year’s second quarter than during the same period last year. The drop was due significantly to decreased sales in China, which has become a key market for the companies in recent years.
Rising oil production around the world will collide next year with slowing growth in demand, creating an oil glut possibly as large as that which marked the global economic shutdown during the COVID War, the International Energy Agency (IEA) warned in a report last week.
Citing a weak market for electric vehicles (EVs), Ford Motor Co. is delaying the debut of a three-row EV until 2027 and instead is focusing significantly on gas-electric hybrids.