The company's shares fell 2.5% on Tuesday after closing 4% higher at the end of Monday's trade in Mumbai ahead of the earnings announcement

ABB – formerly ASEA Brown Boveri – has increased its majority stake in Chinese EV charging provider Chargedot to 80%

The renaming took place exactly 136 years after Karl Benz submitted his patent for the world's first motor vehicle

Kia Niro ranks highest in mass market BEV segment for second consecutive year in JD Power's Electric Vehicle Experience Ownership Study

The company will assemble cars in the city of Iracemápolis in São Paulo state at a factory owned by Mercedes-Benz until August last year 

They will increase the number of common platforms for EVs to five from four, and by 2030 plan to have a combined EV line-up of 35 vehicles

Boosting business in China, the world's biggest car market, is one area analysts want addressed by chief executive Carlos Tavares

The upbeat outlook came after the world's most valuable automaker posted record quarterly revenue that beat Wall Street expectations

The carmaker's biggest growth for the second consecutive year was in China, where sales rose 40% to 4,033 units, while Asia-Pacific sales rose 37%

BP in 2019 bought a 49% stake in more than 1,400 petrol pumps and 31 aviation turbine fuel stations owned by Reliance for $1 billion

Jidu, an electric vehicle (EV) joint venture between Baidu and Geely, said it would deliver its mass-produced "robot" EVs in 2023

Construction of supporting infrastructure to charge and replace batteries, store energy, and refuel hydrogen cells will also be strengthened