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Letting the yuan depreciate could blunt the impact of US trade tariffs. And China's central bank has considered the possibility of the yuan dropping to 7.5-per-dollar to counteract trade shocks.

The companies, which have set up a 50/50 joint venture, said they will invest $4.33 billion in a factory in Zaragoza. They expect to start making batteries by the end of 2026.

The country's top EV maker has gained a greater share of the global auto market and now looks poised to top its 4-million worldwide sales target – and overtake Ford and Honda

German supplier warns it can no longer supply antimony to US clients, as China's export curbs begin to impact Western supply chains

Trump's son has cited Vietnam among countries that "ripped off" the US, according to a video shown at a conference in Hanoi last week set up by American business chambers

Exports of plug-in hybrids and conventional hybrids accounted for 18% of China's total vehicle sales to Europe. That was double their 9% share in the first quarter.

US carmaker says it will record non-cash charges of more than $5 billion on its joint venture with SAIC in China, one for the rejig of operations, and another on its reduced value