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.

The world’s biggest maker of electric-vehicle batteries and a supplier to Tesla has been meeting banks in recent weeks as it draws up plans for a secondary listing in Hong Kong. The initial public offering would give it access to offshore funds as it seeks to expand overseas, and Morgan Stanley has estimated it could raise up to $7.7bn.

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

XPeng and Volkswagen will work together to build a network of more than 20,000 charging units to be installed in 420 cities.

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.

Other battery suppliers do exist, but CATL still holds the largest market share. Directly behind CATL is another Chinese supplier, BYD/FinDreams, which also doubles as an EV manufacturer. Korea-based LG Energy Solution sits as the third-largest supplier, while Panasonic, a Japanese-based electronics company, is the fourth-largest.

South Africa's introduction of a tax incentive aimed at attracting electric vehicle (EV) and hydrogen-powered vehicle production has positioned the country as a potential hub for Chinese automakers. President Cyril Ramaphosa signed the tax amendment into law on December 24,

Porsche's aggressive discounts on the Taycan EV highlight a significant drop in demand, impacting the automaker's profitability and raising concerns about the future of the luxury EV market.

Tesla rivals BYD, Nio Li Auto, XPeng and Zeekr all reported record December China EV sales as the price war intensified.

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.

Battery / EV Metals Price BMI Lithium Carbonate, EXW China, >=99.2% Li2CO3 10,150 BMI Lithium Hydroxide, EXW China, >=56.5% LiOH 9,375 BMI Cobalt Sulphate, EXW China, >20.5% Co 3,502 BMI Nickel Sulphate, EXW China, >22% Ni 3,520 BMI Flake Graphite, FOB China, -100 Mesh, 94-95% C 435