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Marelli Holdings filed bankruptcy in the U.S., saying its latest debt-cutting effort was prompted by tariffs.

In a June 9 email to customers, a representative said the company is “working toward the goal of returning to full operational capacity by” June 15 or sooner and apologized for any disruption.

Marelli Holdings, the struggling auto parts supplier for Nissan and Stellantis, plans to seek Chapter 11 bankruptcy protection in the U.S. to slash its debt burden and restructure.

A ship carrying more than 3,000 cars to Mexico was abandoned in the middle of the Pacific Ocean after catching fire June 3, highlighting a growing risk to the transportation of electric vehicles.

Automakers in the U.S. and Europe raised concerns about China’s export controls on rare earth metals, as Beijing’s move threatens to disrupt global car production.

OPEC raised oil production last month as the group began a series of accelerated increases spurred by Saudi Arabia, according to a Bloomberg survey.

More and more Chinese trucks are being powered by batteries, another sign that oil-based fuels are getting shoved to the sidelines in an increasingly electrified economy.

After the U.S. and China agreed to lower tariffs from astronomical heights, tensions are now surging over access to chips and rare earths. And Beijing increasingly appears to have an edge.

JPMorgan is leading a potential high-yield bond sale for EV manufacturer Rivian Automotive, partly to refinance its upcoming debt, according to people familiar with the transaction.

The ceasefire in the tariff fight between the United States and China is encouraging trade across the Pacific, holding up freight prices three weeks on, even as container bookings have slowed.