Fuel

Tesla Inc. lowered the deposit that buyers in China have to put down on its cars, seeking to keep sales momentum in the face of intensifying competition and reductions in the government’s electric-vehicle subsidies.

European governments approved the most ambitious climate change plan to date, agreeing to pour more than €500 billion euros ($559.5 billion) into everything from electric cars to renewable energy and agriculture.

Pilot Company announced that CEO Jimmy Haslam will be succeeded in the role by current Chief Strategy Officer Shameek Konar on Jan. 1, 2021, at which point Haslam will become chairman of the board and company founder James Haslam will be named chairman emeritus.

Ford Motor Co. and Volkswagen AG warned a swirling legal dispute between two South Korean battery suppliers could threaten their plans to start producing electric vehicles in the U.S.

Oil climbed to the highest level since early March in London on July 21 as hopes for an economic recovery from the coronavirus crisis lifted financial markets.

After six consecutive weeks of increases, the national retail price of diesel fuel fell by five-tenths of a cent to $2.433 a gallon from $2.438 the previous week.

Chevron Corp. agreed to buy Noble Energy Inc. for about $5 billion in shares as the oil giant looks to beef up in the Permian Basin amid the wreckage of the worst crude crash.

Nikola Corp. shares nosedived on July 20 as some investors will now be able to buy the company’s stock at a fraction of recent prices.

Halliburton Co. impressed investors by slashing costs more than expected as the fracking behemoth works its way through an historic shale bust. The shares surged more than 8%.

Oil prices recently tumbled as a resurgence in coronavirus cases and impending U.S. layoffs darken the economic outlook.