Chinese manufacturer of electric vehicles BYD Co Ltd announced on Monday that its subsidiary has agreed to purchase Jabil Inc’s mobility business in China for 15.8 billion yuan ($2.17 billion) from the Singaporean branch of the American manufacturing company.

The smart electric vehicle (EV) division of the world’s largest ride-hailing firm, Didi, will be acquired by the Chinese electric car startup Xpeng (9868. HK), according to the announcement. The two businesses will also establish a strategic alliance.

India is currently in the process of formulating a fresh EV or electric vehicle policy, with a specific focus on reducing import taxes for automakers willing to engage in local manufacturing.

Porsche, the luxury car manufacturer, from Germany, is apparently exploring the possibility of manufacturing its SUV, Cayenne in India.

Tata Sons are taking the initiative to build an EV battery factory, in the United Kingdom. With an investment of £4 billion, they are demonstrating their dedication to transportation and keeping up with the changing trends in the global automotive industry.

Hyundai Motors Indian division has acquired the General Motors Talegaon plant, which will enhance their production capacity to one million units, per year.

The government has revealed the draft of the FAME III, which includes a budget allocation of Rs 40,000 50,000 crore to support vehicles (EVs).

The assets of trucking company Yellow Corp (YELL.O) have drawn substantial interest and their sale may exceed the $1.4 billion in secured debt held by the business, Fox Business said on Tuesday.

Chinese battery materials companies are stepping up their investments in South Korea, with projects worth at least $4.4 billion announced this year. This move is in response to the US

Bajaj Auto, an exporter of motorcycles and three-wheelers is expanding its operations into Brazil by setting up its inaugural manufacturing facility overseas under the name Bajaj Do Brasil.

Following scrutiny from New Delhi over its investment proposal, China’s BYD informed its India joint venture partner that it would abandon plans for a new $1 billion investment to produce electric automobiles.

In an effort to compete with Tesla (TSLA.O) and to benefit from Biden administration subsidies, seven major automakers announced on Wednesday that they were establishing a new company to provide electric vehicle charging in the United States.