Juneyao Group is exploring a move into the EV market, where sales are booming because of generous government subsidies and tax incentives.

Shares slide on most Asian markets on Monday, as the dollar climbed, but shares rose in China after cuts in its benchmark lending rates

Only 2% of cars sold in Australia are electric, compared with 15% in Britain and 17% in Europe.

Nomura lowered its China economic growth forecast, citing dismal July activity data, the lingering impact of the pandemic, and the worst heatwave in six decades.

The climate law passed by the US aims to localize the manufacturing of EVs but "adds a steep requirement aimed at weeding out 'foreign entities of concern' from supply chains", it says.

CATL said the construction of the $7.6 billion plant in Hungary, to supply Mercedes, BMW and VW, will be its biggest overseas investment

CATL had been in the final stage of choosing between sites in South Carolina and Kentucky for battery production before Pelosi's controversial Taiwan trip

Nio said it will rev up the construction of battery swapping stations in Europe with a view to expanding car sales in Germany, the Netherlands, Sweden and Denmark.

Technology and auto firms have warned of revenues declines as shoppers tighten their belts amidst an economic slowdown

The measures include requiring funds to provide details on their investment strategy and will take effect from January 2023, the Monetary Authority of Singapore said

Tesla, the world's largest seller of EVs last year, maintained its lead in the first six months of this year despite running into a few hurdles, the report said

Data showed factory profits grew 0.8% compared with a year earlier, rebounding from a 6.5% decline in May, according to the National Bureau of Statistics