Lotus, which is owned by China's Geely and Malaysia's Etika Automotive, has said it hopes to sell only fully-electric models by 2028

The company will assemble cars in the city of Iracemápolis in São Paulo state at a factory owned by Mercedes-Benz until August last year 

The project will produce green hydrogen by splitting water molecules with electricity from onshore wind farms and provide about half of total green hydrogen supply for fuel cell vehicles

They will increase the number of common platforms for EVs to five from four, and by 2030 plan to have a combined EV line-up of 35 vehicles

Boosting business in China, the world's biggest car market, is one area analysts want addressed by chief executive Carlos Tavares

Shares surge about 99% above its IPO price of 300,000 won shortly after market opens, as investors cheer upbeat outlook of global electric vehicle industry

The upbeat outlook came after the world's most valuable automaker posted record quarterly revenue that beat Wall Street expectations

The carmaker's biggest growth for the second consecutive year was in China, where sales rose 40% to 4,033 units, while Asia-Pacific sales rose 37%

BP in 2019 bought a 49% stake in more than 1,400 petrol pumps and 31 aviation turbine fuel stations owned by Reliance for $1 billion

Jidu, an electric vehicle (EV) joint venture between Baidu and Geely, said it would deliver its mass-produced "robot" EVs in 2023

Moody's affirmed in a note that Tesla's outlook remains positive and the company will continue to increase its scale rapidly

Construction of supporting infrastructure to charge and replace batteries, store energy, and refuel hydrogen cells will also be strengthened