China has renewed a trade-in subsidy of up to 20,000 yuan ($2,730) to help underpin sales of fuel-efficient vehicles, including electric cars and hybrids.

CATL has made less use of foreign banks, with the lion’s share of its fees going to China Securities and CICC, although Goldman is the third-largest fee earner from its investment banking activities, according to the LSEG data.

But spokesman Mark Truby noted that the Marshall site will be a Ford-owned plant with Ford employees. In the past, Ford has said that it believes licensing the technology from CATL and manufacturing the batteries in Michigan will support a strong U.S. manufacturing base and is preferable to importing batteries from China.

The Pentagon is banning a number of Chinese technology firms, including CATL, the world’s largest EV battery manufacturer, which provides batteries to Tesla.

China EV sales: Tesla rivals BYD, Nio Li Auto, XPeng and Zeekr all reported record December sales. But a price war is intensifying.

Beijing is planning to curb the export of technology used to extract minerals critical for the growth of the global electric vehicle (EV) industry, as a tech rivalry with Washington escalates ahead of the inauguration of US President-elect Donald Trump later this month.

You may recognize this concept—Sony and Honda debuted it at CES 2024, with customer orders set to open this year. Afeela has also promised an SUV and a cheaper model down the line. And an updated version of the prototype is set to debut at CES 2025 this evening.

The EV giant sold 1.76 million electric cars in 2024, per figures released on Wednesday, putting it within touching distance of beating Tesla.

Marketplace's China correspondent Jennifer Pak explains the factors that have made Chinese EV makers competitive and could keep them competitive in a high tariff world.

A total of 163 of those workers, hired by BYD contractor Jinjiang, were found last month to be working in what Brazilian authorities said were ‘slavery-like conditions’

Japanese trading house Marubeni has invested $5 million in British electric vehicle battery recycler Altilium and will help it to scale up operations, the companies said on Tuesday.