Nio said it will rev up the construction of battery swapping stations in Europe with a view to expanding car sales in Germany, the Netherlands, Sweden and Denmark.

Tesla, the world's largest seller of EVs last year, maintained its lead in the first six months of this year despite running into a few hurdles, the report said

Indonesia's chief economic minister Airlangga Hartarto met with Toyota vice-chairman Shigeru Hayakawa on Tuesday in Tokyo, the Jakarta ministry said

China's zero-Covid policy, which has snarled supply chains and hurt production, prompted LGES to seek EV-battery factory sites elsewhere in Asia

The fund is likely to be set up with technical assistance from the US Agency for International Development (USAID)

The HiPhi Z is the Shanghai company's second production car, which claims a range of 705km and acceleration from 0-100 km/h in 3.8 seconds

The company said it would establish an advanced energy materials research institute and a new energy technology industrialisation research centre in Beijing

The move is part of BYD's international push, which has seen it open showrooms in New Zealand and Singapore as well as Norway, Brazil, Costa Rica and Colombia

The funding was first reported by Maeil, citing the investment banking industry. The newspaper said Carlyle Group and SK On had been negotiating detailed terms

Officials said funding was completed on Wednesday for the second phase of the advanced manufacturing fund, which invests in Chinese innovation sectors

Elon Musk, its chief executive, has demanded the company ramp up battery production, especially of its so-called 4680, denoting the diameter (46mm) and height (80mm)

Azis Armand, chief executive of Indika, Indonesia's third biggest coal producer, said a feasibility study for the proposed joint venture is being prepared