The automaker is also planning to develop an EV charging infrastructure and double its sales network, aiming to claim a 10% market share

The Korean automakers said electronic controllers for the Idle Stop & Go oil pump assembly may contain damaged electrical components

Sandwiched between Russia and China, Mongolia has cultivated allies – like the US – in a bid reinforce its independence, but its economy relies heavily on its giant neighbours

Some of the biggest rare-earth companies outside of China are facing challenges in refining elements for the green energy transition

India and Thailand are contenders for production sites for a small electric vehicle made by Foxconn's Mobility in Harmony, CEO Jack Cheng said

The deals follow the introduction of the US's Inflation Reduction Act, designed to wean the US off the Chinese supply chain for electric vehicles

Analysts say the price tag on VinFast's planned merger is not realistic given that the EV-maker continues to burn cash and is in very early stages of its US business

The US commerce secretary said the rules "will deny some revenue to American companies but we think it's worth it”

French automaker Renault is to hack back costs by 40% while Peugeot-Fiat carmaker Stellantis described the competition with China as “brutal”

The deal is win for Xpeng, one of the smaller players in China's EV sector, that is less than a decade old

The battery giant is shadowed by increasing competition from rivals like BYD, a capacity glut with its production facilities and headwinds in its efforts to expand globally

"Security concerns with respect to Chinese investments in India" led officials to decline the EV-maker's proposal, a report by the Economic Times said