American Auto

Faraday Future was up more than 4 percent in pre-market trading after releasing the update.

Momenta was founded in 2016 and received a $46 million investment led by Nio Capital in 2017.

In 2017, Momenta received a Series B investment of $46 million led by Nio Capital, the venture capital arm of Nio.

General Motors announced Tuesday that it is officially introducing its Ultium electric vehicle platform to the Chinese market "to join Chinese consumers on their journey to an all-electric future."

Tesla's new version of the Model Y, which was launched earlier this month and is eligible for China's state subsidies, has garnered the company plenty of orders, and now its US counterpart Ford Motor is following suit.

There have been rumors that Zhu Jiang, the head of Ford China's Mustang Mach-E program and a former Nio vice president, may leave the company, and now the news seems closer to confirmation.

The company also plans to further strengthen its Lincoln brand and fast-track its electric vehicle business.

Ford's smart, all-electric SUV Mustang Mach-E was launched in China on Tuesday and is available for pre-order, with a price range of 265,000 yuan ($40,480) to 379,000 yuan.

The car's rollout at the factory means it will soon begin mass production and go on sale, competing with the Tesla Model Y and Nio ES6.

Ford China has terminated its agreement with Chinese automaker Zotye to build a new energy joint venture, as it cannot be continued after significant changes in China's pure electric vehicle industry and related policies.