The company's call coincides with the release of a new hybrid model, the Grand Vitara sport utility vehicle, that is intended to compete with Hyundai and Kia

Tesla’s second-quarter net profit fell 32% to $2.26 billion compared with the previous quarter. Total revenue fell to $16.93 billion from $18.76 billion in the previous quarter

The departure of Karpathy, who provided no reason for leaving, comes at a critical time as Tesla chief executive Elon Musk races to achieve full self-driving capability

The launch comes after Hyundai announced plans to build EV plants both at home and the US, where the Ioniq 5 and Kia's EV 6 SUV together became the second-best selling EVs

Credit Suisse has been appointed to arrange the issue of offshore securities to raise $2bn for VinFast or subsidiaries, while Citigroup was also tapped to advise on transactions for $2bn

The South Korean automaker plans to invest 63 trillion won ($48.07 billion) in South Korea through till 2025

BII, the British government's development finance institution, will have a 4.8% ownership in the business, which will focus on four-wheel passenger EVs.

The Warren Buffett-backed auto firm’s rise underscores China’s growing prowess in electric vehicle manufacturing and renewable energy, the FT said....

The Hengchi 5 has debuted in a flashy videotaped event, as president Liu Yongzhong said: "[We] are striving to become a globally recognised national automobile brand."

Silk-FAW, based in Jilin province, plans to develop and produce high-performance electric cars in China and Italy