Hybrid vehicles drove the sales surge at top Chinese EV brands, in keeping with larger global car-buying trends

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

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

For most of 2022, Tesla joined rivals in aggressively raising EV prices but its decision to reverse course now challenges automakers’ established strategy of pursuing profit-over-volume