Nov 5 — SAIC Motor's board approved plans to set up a joint venture with Momenta and Yandian Technology with registered capital of 300 mln yuan to accelerate R&D of advanced autonomous-driving technology and boost vehicle competitiveness globally. Momenta will subscribe 153 mln yuan for a 51% stake; SAIC Motor 75 mln yuan for 25%; Yandian Technology 72 mln yuan for 24% (SAIC+Yandian 49%).

FT reports the diesel arrangement reportedly struck between Trump and Putin ahead of the US midterms is encountering disruption. Two tankers that had been bound for the US have diverted—one to Brazil, one to the Mediterranean—and a third remains en route to the US with buyer and discharge port unconfirmed. A sanctioned tanker has also sailed from Russia toward the US. The New Jersey governor has notified state port operators to refuse any tankers carrying Russian diesel under threat of severe penalties. Congressional Democrats and some Republicans have challenged the deal’s legality and urged its reversal. Kpler analyst Matt Smith says two Russian diesel cargoes have re-routed and a third may change course due to regulatory and sanctions risk. TORM CEO Jacob Meldgaard says operational barriers would hamper efforts to reintegrate Russian product even if US policy shifted. US diesel stocks have tightened below 100 mln barrels, the lowest in over 20 years.

Interfax: Russia advises its citizens to avoid travel to Iran.