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Chinese tech giant and biggest battery maker say the move is 'clearly a mistake' as they are not military firms, or suppliers or engaged in military-related activities. They could sue the Pentagon.
The Shanghai Megapack facility, completed in December, is projected to produce about 10,000 Megapack units a year – 40 GWh of annual capacity.
The law, said to be one of the world's strictest, requires public country-by-country reporting to allow the tax office to assess if genuine business operations align with locations where profits are booked and taxes paid
The surprise New Year payout could amount to a one-time shot to the economy of $12-20 billion if all 48 million civil servants in the public sector collected on terms some outlined
China's proposals could help it retain its 70% grip on global processing of lithium into the material needed to make EV batteries. It could also threaten expansion plans by groups such as CATL
The two new initiatives unveiled on Friday are subsidy programmes for consumers, and a subsidy for large-scale equipment upgrades for businesses.
Unlike the European Union and the United States, Norway does not impose tariffs on Chinese electric vehicles
Chinese government hackers who breached the US Treasury Department last month targeted the office that administers economic sanctions, according to a new report
BYD, Tesla, Li Auto and Nio have incentives to bolster sales on top of a state subsidy, at a time competition is so fierce only 3 carmakers are said to be profitable
Weather portal says the average national temperature was a degree higher than 2023, while Shanghai had the hottest year since the Qing Dynasty
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Southeast AsiaCan Singapore Oust Hong Kong To Be Asia’s Fintech Leader? -
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With a market cap of$240 billion, chipmaker ASML is Europe’s most valuable tech company. Its market-leading position comes from its monopoly in Extreme Ultraviolet Lithography (EUV) machines which allow chipmakers to make smaller, faster and smarter semiconductors
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PaymentsCan China Take Place of SWIFT System? Analysts Say ‘No’There is no global payment system that is strong enough to act as an alternative to SWIFT and enable Russia to evade sanctions
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MarketsChina Becomes World’s Second-Biggest Bitcoin Mining HubThe Bitcoin mining ban in China last year had collapsed its crypto markets. Despite that, the country has reemerged as a major bitcoin mining hub, according to research by the UK's University of Cambridge.
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Market InsightsHere’s How China Can Win the Tech War With USAThe Chinese government is doubling down on incentives for innovation, which it believes to be the cornerstone of its future growth and international position.
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Fintech InsightsAsia Becomes the Epicentre of Global NFTsAsia is the frontrunner in the NFTs craze with Central and Southeast Asia accounting for 35% of the $22 billion in global trade
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