The Chinese EV-maker's bumper sales suggest car buyers are looking for cheaper models in a high-interest-rate economy

The funding was slated to be used for the research and development, manufacturing, and sales services of vehicles under the group

The new requirements, issued in December, seek to reduce US reliance on China in its electric-vehicle supply chain

The Chinese tech giant plans to focus on its device business over the coming year, while increasing the efficiency of its overall operations to counter geopolitical uncertainty

The smartphone giant’s chief Lei Jun said the company was aiming to become 'one of the world's top five automakers'

Earlier this month, BMW Group said it had received a test license for L3 self-driving on high-speed roads in Shanghai

The ET9, which is still a year away from delivery, features self-developed tech such as an autonomous driving chip, a 900-volt electric drive for fast charging and large cylindrical battery cells

Tesla paid 222.42 million yuan ($31.13 million) for use rights to a 19.7-hectare (48.7 acres) plot in Shanghai for $31.13 million

The new facility to be built in Szeged, in southern Hungary, China's biggest carmaker by sales, said on Friday

US lawmakers discussed raising tariffs on Chinese EVs amid reports that Chinese carmakers plan to build factories in Mexico and export cheap vehicles across the border

Chinese car exporters are expected to suffer negative impacts as more shippers avoid the Red Sea and opt to sail around Africa to avoid attacks by pro-Palestine militants in Yemen

The deal, expected late this month, will take CYVN's shareholding to 20.1% of Nio's total shares, the carmaker said in a statement