BII, the British government's development finance institution, will have a 4.8% ownership in the business, which will focus on four-wheel passenger EVs.

The Warren Buffett-backed auto firm’s rise underscores China’s growing prowess in electric vehicle manufacturing and renewable energy, the FT said....

The Hengchi 5 has debuted in a flashy videotaped event, as president Liu Yongzhong said: "[We] are striving to become a globally recognised national automobile brand."

Silk-FAW, based in Jilin province, plans to develop and produce high-performance electric cars in China and Italy