Author: Reuters

The bankruptcy of Stellantis' Jeep joint venture in China could spell trouble for other global automakers whose output has plunged over the last five years in the world's largest car market, as domestic players rapidly overtake.

South Korea's Hyundai Motor Co and LG Energy Solution Ltd (LGES) are considering building two joint venture battery plants in the United States, a local online news outlet reported on Monday. LGES declined to comment. Hyundai Motor was not immediately available for comment when contacted by Reuters.

Fiat parent Stellantis has concluded it can't currently make affordable electric vehicles in Europe and is looking at lower-cost manufacturing in markets such as India, its chief executive told reporters.

A Philippine inter-agency panel chaired by President Ferdinand Marcos Jr on Thursday approved removing tariffs on electric vehicles (EVs) to spur demand amid high fuel costs.

A Hong Kong stock market debut puts Jakarta at the centre of China’s electric-car boom. Lygend Resources & Technology , a Chinese nickel trader, is looking to raise up to $594 million in an initial public offering to expand in Indonesia. The company’s presence in the resource-rich archipelago allows it to export copious quantities of the metal, which is in high demand back home.

Chinese automaker BYD Co Ltd said on Wednesday it raised prices for three of its electric vehicle models by 2,000 yuan ($279.86) to 6,000 yuan, citing reasons including rising battery prices and the scheduled expiration of some state subsidy plans.