The deal, expected late this month, will take CYVN's shareholding to 20.1% of Nio's total shares, the carmaker said in a statement

Panel production costs in the world's largest producer of solar energy have declined a whopping 42% from year ago, dropping as low as 15 cents per watt

The deal – hailed as "historic" by some, and slammed as "soft" by island nations – is the first global agreement that promises an eventual end to the use of oil and coal

Oil producing nations were accused of blocking a deal at the climate summit on Tuesday; many countries sought a new draft as the original failed to endorse a 'phase-out' of fossil fuels

Industry ministry said on Monday EVs should have a driving range of at least 200 kilometres per charge to be eligible for purchase tax exemption from 2024

The manufacturing hub by the South China Sea is increasingly a key assembling link in supply chains that rely on Chinese parts and US consumers

Every facet of electric vehicles and EV batteries is being assessed by carmakers around the world keen to produce EVs that can compete with China's cheap EV models

The International Energy Agency expects world oil consumption to hit its peak in 2030 at 103 million barrels per day – a decade faster than initially predicted

COP28 president Sultan Al Jaber also seen opposing the UN chief's call for a halt in the use of fossil fuels

Jakarta and the Asian Development Bank have agreed to a deal that will see a 660-MW coal plant in West Java shut seven years earlier than scheduled

The pledge by over half the world's countries to triple renewable energy was perhaps the most positive news at COP28 on Saturday

Prices of the key EV battery metal have already tumbled close to 80% this year with supply outpacing the rise in demand