The electric vehicle maker is aiming to build a facility to produce its Blade Battery, which it claims is safer than other alternatives in the market

The US carmaker's aggressive price cuts earlier this year helped it to stoke demand amid rising inventories

This is the second time in a week that Berkshire Hathaway reduced its stake in the Chinese electric vehicle maker

CEO Jim Rowan said the automaker is assessing logistics and "cost benefits" as the plant will "feed other countries other than just India"

The investment company has gradually reduced its holding in the rapidly expanding Chinese EV-maker by more than a third

Chief executive Elon Musk said the EV-maker's 2023 deliveries could hit 2 million vehicles, so long as there were no external disruptions

Representatives from Ford's German management are scheduled to visit China in the upcoming week to examine the possibility of selling the facility

Warren Buffett-backed BYD took the lead among Chinese electric-car makers, with a 152.5% increase in EV deliveries

Several Tesla owners in Shanghai also said they felt misled by Tesla sales staff who told them they would face higher prices in the new year

Tesla has chosen to lower prices and take some additional downtime at the Shanghai factory to bring supply and demand back in balance

Rival Chinese electric vehicle maker BYD and the budget-EV joint venture of General Motors in China both outsold the US carmaker

Zhu's title of Greater China VP remains unchanged and he continues to hold the position of the US electric vehicle-maker's most senior executive for sales in the rest of Asia