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The OPEC oil cartel and its allies decided Aug. 3 to boost production in September by a much slower pace than in previous months at a time of high gasoline prices and unstable energy supplies exacerbated by Russia’s war in Ukraine.

Dana Inc. reported net income dropped and revenue increased in Q2 amid a host of persistent industry challenges.

Automakers including Ford Motor Co., General Motors Co. and Toyota Motor Corp. are making a last-ditch lobbying push to change Democrats’ proposed new spending bill over concern that they stand to lose out from strict new limits on electric vehicle credits.

Eaton Corp. reported second-quarter net income rose and revenue was flat while segment margins were 20.1%, a quarterly record and above the high end of the guidance.

GXO Logistics Inc. closed out its first year as an independent company with revenue and earnings growth in the second quarter of 2022, the company reported Aug. 2.

Nikola Corp. shareholders approved a measure to issue new shares to potentially raise capital, a move that founder and former chair Trevor Milton had opposed.

Volvo AB plans to build a “large-scale” battery plant in Sweden to meet an expected surge in demand for electric trucks and buses.

Cummins Inc. in Q2 posted all-time record quarterly revenue and solid profitability reflecting strength primarily in the North American market, the company announced Aug. 2.

Nikola Corp. has agreed to acquire energy-storage technology company Romeo Power for about $144 million, the Phoenix-based electric vehicle maker announced Aug. 1.

A giant Chinese supplier of electric vehicle batteries decided to push back announcing a multibillion-dollar North American plant to supply Tesla Inc. and Ford Motor Co. due to tensions raised by House Speaker Nancy Pelosi’s trip to Taiwan, according to people familiar with the matter.