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Sony Group Corp. and Honda Motor Co. agreed to establish a joint venture this year to start selling an electric vehicle by 2025, both sides said March 4.

California, already paying record prices for motor fuel, is set to shell out even more with the Golden State more exposed to surging oil prices than the rest of the country in the wake of Russia’s invasion of Ukraine.

DETROIT — Elon Musk is inviting the United Auto Workers union to hold an organizing vote at Tesla’s factory in Fremont, Calif.

Rivian Automotive Inc. dropped to a record low after the electric-vehicle maker rolled back price increases on its debut cars for existing customers, marking an about-face as it ramps up production and seeks to win over more buyers.

Navistar Inc. announced it unveiled its Next Experience Trailer to provide industry stakeholders the opportunity to learn more about the process and benefits of electric vehicle adoption.

Ford Motor Co. will separate its fast-growing electric vehicle operations from its legacy combustion engine business in a historic reorganization of the 118-year-old company.

Oil extended gains after the close as a decision by the U.S. and other major economies to release emergency stockpiles failed to ease concerns of a major shortfall in supplies as sanctions mount on Russia.

Workhorse Group Inc. plans to kill its flagship electric delivery van after a recall last year, turning instead to two new models after what its CEO called a “costly misstep.”

FRANKFURT, Germany — The International Energy Agency’s 31 member countries agreed March 1 to release 60 million barrels of oil from their strategic reserves — half of that from the United States — “to send a strong message to oil markets” that supplies won’t fall short after the Russian invasion of Ukraine.

Lucid Group Inc. slumped after lowering its production target for this year to between 12,000 and 14,000 cars, down from a previous goal of 20,000, citing “extraordinary” challenges with logistics and its supply chain.