Indonesia's chief economic minister Airlangga Hartarto met with Toyota vice-chairman Shigeru Hayakawa on Tuesday in Tokyo, the Jakarta ministry said

China's zero-Covid policy, which has snarled supply chains and hurt production, prompted LGES to seek EV-battery factory sites elsewhere in Asia

The fund is likely to be set up with technical assistance from the US Agency for International Development (USAID)

The HiPhi Z is the Shanghai company's second production car, which claims a range of 705km and acceleration from 0-100 km/h in 3.8 seconds

The company said it would establish an advanced energy materials research institute and a new energy technology industrialisation research centre in Beijing

The move is part of BYD's international push, which has seen it open showrooms in New Zealand and Singapore as well as Norway, Brazil, Costa Rica and Colombia

The funding was first reported by Maeil, citing the investment banking industry. The newspaper said Carlyle Group and SK On had been negotiating detailed terms

Officials said funding was completed on Wednesday for the second phase of the advanced manufacturing fund, which invests in Chinese innovation sectors

Elon Musk, its chief executive, has demanded the company ramp up battery production, especially of its so-called 4680, denoting the diameter (46mm) and height (80mm)

Azis Armand, chief executive of Indika, Indonesia's third biggest coal producer, said a feasibility study for the proposed joint venture is being prepared

The factory is expected to begin producing the increasingly popular cylindrical batteries starting in 2024, Samsung SDI said in a statement

Tesla’s second-quarter net profit fell 32% to $2.26 billion compared with the previous quarter. Total revenue fell to $16.93 billion from $18.76 billion in the previous quarter