Fuel

Oil extended its slide to a second day on a cocktail of surging coronavirus cases in the U.S. and Europe, dwindling prospects for pre-election stimulus in Washington and a steady resumption of supply from Libya.

Daimler AG reported higher net income on lower revenue in the third quarter as core markets began to recover from the impact of COVID-19.

Automakers are investing billions of dollars to bring new electric vehicles to consumers in the U.S. and other global markets, but their success hinges on securing the most critical and expensive component: the battery.

Chicago is planning for a 3-cent fuel tax increase in an effort to help restore the city’s financial well-being amid the coronavirus pandemic,

Truck makers are beginning to introduce battery-electric models, but successfully deploying this new breed of commercial vehicle requires fleets to manage a bevy of new considerations, including installation of charging equipment, coordination with utility companies and exploring government incentives.

General Motors Co. is moving ahead in its talks with startup Nikola Corp. over a proposed partnership to make electric and fuel cell powered trucks, a senior executive at the Detroit automaker said.

Allison Transmission Inc., widely known for its medium- and heavy-duty fully automatic transmissions, announced the launch of eGen Power, its series of zero-emission electric axles.

Navistar International Corp. is on the verge of becoming a subsidiary of German truck maker Traton SE, a step analysts said is a positive development for both companies.

General Motors Co. is investing more than $2 billion in six U.S. plants, including a makeover of a former Saturn plant in Tennessee into its third factory to produce electric models.

Oil slipped as nations reimposed tighter lockdown restrictions in hopes of containing a resurgent pandemic that is depressing demand.