China's Ministry of Commerce said Europe's anti-subsidy investigation would have a negative impact on China-EU economic and trade relations, as local carmakers' shares slid on Thursday
EC move follows concern over the flood of Chinese electric vehicles into Europe amid fear that Beijing's subsidies for car and battery makers are a threat to the continent's production of EVs
Gotion will be eligible to receive US tax benefits totalling $213 million over 30 years and also get $125 million in capital funding from Illinois
State media said the investment was a clear sign of Beijing's push to end the country's reliance on foreign semiconductor firms
Among major backers of the chip designer is smartphone giant Xiaomi, which won approval last month from China's state planner to manufacture electric vehicles
The launch of the new Model 3 version marks the first time the automaker has rolled out a vehicle in China ahead of the United States; it will go on show in Munich in coming days
The deal is another shot in the arm for the currently loss-making startup, coming on the heels of a stake sale to, and partnership with, Germany's Volkswagen
The deals follow the introduction of the US's Inflation Reduction Act, designed to wean the US off the Chinese supply chain for electric vehicles
The deal is win for Xpeng, one of the smaller players in China's EV sector, that is less than a decade old
"Security concerns with respect to Chinese investments in India" led officials to decline the EV-maker's proposal, a report by the Economic Times said
The investment proposal also includes a plan by BYD to set up charging stations in India and build research and development and training centres
Experts say latest data coming in from China pointed to the world’s biggest EV market recovering from a slump and getting “back on the fast-track"