China’s top-selling automaker has returned sizzling sales figures and bumper profits despite a price war initiated by US EV rival Tesla

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

Evergrande said its ability to continue will depend on implementation of its offshore debt restructuring plan, and successful talks with the rest of the lenders on repayment extensions

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 deals mania comes as Australia undertakes a critical minerals strategy that envisages major collaborations with investors and global partners to become a renewables superpower

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

South Korea’s Star Group Industrial and China’s Baotou INST Magnetic will join companies in sectors such as electronics and autos in shifting assembly lines amid backdrop of increasing trade rivalry

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 Uyghur Forced Labor Prevention Act has focused mainly on solar panels and cotton goods but now EV products and parts are being scrutinised

The firm says it expects to begin mass production of the new battery – called Shenxing – by the end of the year

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