Big Chinese, South Korean and Japanese firms are seen as more likely to follow through than local startups, as they have contracts with global carmakers and experience building large factories

As China's automakers close the gap with foreign automakers we are likely to see more joint ventures collapse in the coming years, Urban Science managing director Chee-Kiang Lim said

But Germany's economy and foreign ministries were still advising against the deal, even with the amended terms.

Carmakers in China delivered a million cars to dealers in the first nine months of this year – a record number, but a local brokerage said the market looks set to slow in 2023 as demand is softening

The group estimates net profit for the July-September quarter came in at $765 million-$820 million, which is a rise of 333% to 365% from the same period a year earlier

Economy Minister Robert Habeck, of the Greens, said on Tuesday he was leaning towards not allowing the deal, which would give China a stake in critical German infrastructure.

Greenpeace ranked Toyota last out of the top 10 automakers in sales volume - for the second year running. Zero-emission vehicles made up less than 1% of its sales, report said

Toyota now plans to outlay $3.9 billion on an EV battery plant in North Carolina, it said on Wednesday, partly because of rising consumer demand.

Production hubs in China have seen output hit by Covid-related lockdowns in Shanghai. There is also deep concern about the impact of growing tensions between the US and China.

Mining giant Anglo-American has unveiled a prototype of what it says is the world’s largest hydrogen-powered mining truck

The climate law passed by the US aims to localize the manufacturing of EVs but "adds a steep requirement aimed at weeding out 'foreign entities of concern' from supply chains", it says.

Six Russian cargo vessels and at least one oil tanker sanctioned by the US for their history of transporting weapons for Moscow or oil from Iran docked in India over the past month