Phate Zhang

After the transaction, Avatr will hold a 10 percent stake in Newcool, while Huawei will hold 90 percent.

Power Up 2024 will be held on August 20 in Wuhan, Hubei, central China. For the past three years, Nio had held the Nio Power Day events in the summer of each year.

BYD set up its own auto insurance business through an acquisition, which began operations in May this year.

“We are committed to fostering a growing community in the UAE and building strong networks to provide the best possible experience for NIO users,” the company wrote on its UAE website page.

BYD has launched the Sealion 6 in Sri Lanka, its fourth model there after the Dolphin, Seal, and Atto 3.

Ganfeng plans to set up a joint venture in Turkey, which plans to invest $500 million to build a lithium battery project with an annual capacity of 5 GWh in Turkey.

In a recent shake-up, Volkswagen moved its BEV R&D resources in China to Anhui province, where it hopes to build a "Wolfsburg of the East," according to local media.

The Audi e-tron GT is a luxury electric sports car that currently has a starting price of RMB 999,800 ($139,380) in China.

Despite improved gross margin, Leapmotor's losses continued to widen in the second quarter as it saw record quarterly R&D investments.

BYD will reveal three models it plans to sell in Pakistan at a brand launch on Saturday. Its EV plant in Karachi will be completed in the first half of 2026, according to Bloomberg.