The fund will invest in the EV value chain to capture a market that is expected to grow fast globally, its CEO Ridha Wirakusumah said

Nio still expects deliveries to almost double in the current quarter as it chases BYD and US EV giant Tesla

China Insurance Security Fund, which played a key role in bailing out fallen Anbang Insurance Group, is now allowed to be involved in the formulation of risk disposal plans

Trio of South Korean companies say Washington’s new electric vehicle tax credit rules have "impossible requirements”

The Hurun Rich list, which ranks China's wealthiest citizens, said the number of dollar billionaires dropped by 239 to 946 this year.

The Japanese auto giant aims to roll out 30 EV models globally and produce 2 million EVs a year by 2030

Rumours and news reports have raised hopes for the easing of China's tough Covid curbs and improved relations with the United States

The X3 uses a drone attached to its roof which can allow users to fly over traffic, obstacles and rivers

The two sides are discussing a reduction in Renault's 43% stake in Nissan, potentially to 15%, so the carmakers can collaborate on more equal terms

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

The Hang Seng index fell 3.1% by the close of trading, while on the mainland, the bluechip CSI300 index was down 0.8%

The plant targets mass production by 2025, joining other battery suppliers in taking advantage of new US EV tax credit rules