Asian battery makers for electric vehicles are shielded from a big, immediate hit from surging nickel prices for now, thanks to long-term contracts and a diversified supply chain, companies said.

Nickel prices in China hit a record high on Wednesday with prices rising 17% to hit 267,700 yuan (about $42,400) a tonne, touching the ceiling for permitted daily gains

Russia's invasion of Ukraine is ramping up the price of metals used in cars, from aluminium to palladium to the high-grade nickel in electric vehicle batteries

MG Motor envisages a quarter of its total sales coming from electric vehicles by the end of fiscal 2023, the report added.

The gigafactory, which is crucial to Elon Musk's ambitions to vanquish European market leader Volkswagen, was supposed to open last summer

The plan to terminate 50 employees was approved on February 21 as the company said it was looking to focus on its core business and become leaner

The Japanese giants said they plan "high value-added battery electric vehicles" and "commercialise them in conjunction with providing mobility services"

Macquarie Asset Management says it will support Roadchef in developing and accelerating the rollout of fast-charging infrastructure for electric vehicles

Panasonic is looking at building the factory, to cost several billion dollars, in either Oklahoma or Kansas, according to the Japanese outlet

Qin made the remarks during a visit to BYD's plant in Lancaster, southern California, where he was joined by more than 300 US workers

The Indian automaker, owned by China’s SAIC Motor, is reportedly talking to private equity funds ahead of a major electric vehicle production drive

Japanese chipmaker Renesas Electronics said on Thursday it will set up a design centre with Tata Elxsi to jointly develop electric vehicle technology as the appetite for EVs grows