Germany’s economy minister said the country’s carmakers are “afraid” of retaliation from Beijing over potential EU duties targeting Chinese electric vehicles

The announcement came after customs data showed China had completely blocked its exports of germanium and gallium products in August

France’s decision — which follows an EU investigation into Chinese state subsidies for EV production — is aimed at reducing the country’s carbon footprint through imports, an official said

Among major backers of the chip designer is smartphone giant Xiaomi, which won approval last month from China's state planner to manufacture electric vehicles

Shares of the still loss-making automaker have rallied more than 333% over the past five days, reaching a valuation of roughly $190 billion

The deal is another shot in the arm for the currently loss-making startup, coming on the heels of a stake sale to, and partnership with, Germany's Volkswagen

New Delhi will move slowly in considering the tax cut as any lowering of taxes on imported EVs could disrupt the market and upset local players, sources said

The moves followed reports that South Korea's Star Group Industrial, which supplies magnets to VinFast and Hyundai, is investing $80 million in a new factory in Vietnam

The cash-burning company is currently worth $35 billion, down from $85 billion in its Wall Street debut, that valued the carmaker twice as much as Ford and General Motors

Chinese brands such as BYD, Nio and SAIC's MG, which have raced past foreign rivals to top sales rankings at home, will have to overcome a new set of challenges to thrive in Europe

The automaker remains far behind its sales targets and faces tough competition in an industry where an increasing number of players are burning cash and facing an intense price war

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