Global carmakers are falling behind Chinese electric car companies in the world's biggest car market, with no foreign brands among the top 10 carmakers in the China EV segment this year, except for Tesla in third place.

The China Passenger Car Association (CPCA) data showed sales of passenger vehicles fell 16% from the same period a year earlier to 780,000 units

The latest drop came as an analyst lowered his price target for Tesla stocks to $800 from $1,150 over Covid-19 lockdowns in Shanghai and supply chain issues

Both companies said operations are expected to start in 2025, with an initial annual production capacity of 23 gigawatt hours, and the ability to increase to up to 40 GWh later

Covid restrictions have forced Chinese producers of battery materials for EV makers to cut production by up to 40%, reducing demand for lithium

New plant will be the Korean auto making giant's first integrated battery and electric vehicle facility, able to produce some 300,000 EVs annually.

The crash is one of 35 under investigation by the National Highway Traffic Safety Administration involving Tesla vehicles and their...

With carmakers investing in EVs, parts suppliers are also diversifying their business towards new and clean technologies and moving away from petrol-reliant supply chains

The ailing property developer said mass production of its Hengchi 5 e-SUV has been pushed back because of China’s Covid lockdowns

If an attacker can place a relaying device within signal range of a mobile phone or key fob authorised to access a Tesla they can unlock and operate the vehicle

The electric carmaker was dropped from the widely followed S&P 500 ESG Index because of issues of racial discrimination and crashes linked to its autopilot

The crash is one of 35 under investigation by the National Highway Traffic Safety Administration involving Tesla vehicles and their advanced driver assistance systems