The electric vehicle maker is aiming to build a facility to produce its Blade Battery, which it claims is safer than other alternatives in the market

Nissan and Renault will invest $600m to turn Chennai into an export hub for new models, while Zeekr has now passed the current value of Xpeng, after raising $750m from existing investors

The US carmaker's aggressive price cuts earlier this year helped it to stoke demand amid rising inventories

The discovery comes at a time when India is looking to strengthen its supply of critical minerals that will be crucial for furthering its electric vehicle plans

Both carmakers gained from a plunge in the yen in October last year, even as a shortage of chips and soaring costs of raw materials squeezed global carmakers

This is the second time in a week that Berkshire Hathaway reduced its stake in the Chinese electric vehicle maker

A shortage of chips is preventing Subaru and other automakers from ramping up production following the loss of business from Covid

CEO Jim Rowan said the automaker is assessing logistics and "cost benefits" as the plant will "feed other countries other than just India"

No financial details were disclosed on the valuation of the business on Monday, which some sources have indicated could be up to 10 billion euros

India is now the third-largest EV market in the world behind the US and China, the Business Standard said

The US auto firm plans to ramp up output at its Shanghai plant over the next two months to meet demand sparked by price cuts early last month

The Vietnamese company is gearing up to expand in the United States, where it hopes to compete with existing automakers