U.S. carmaker Tesla, on May 23, started building a new factory in Shanghai to produce its Megapack energy storage batteries, a project which is expected to start mass production in early 2025.
German Chancellor Olaf Scholz concluded his three-day visit to China with a crucial meeting with Chinese President Xi Jinping on April 16, 2024. The visit was aimed at bolstering business ties with Germany’s largest trading partner while also addressing concerns about China’s increasing exports to Europe
U.S. Treasury Secretary Janet Yellen concluded her trip to China, highlighting American concerns over Chinese overproduction, cautioning against support for Russia
Tesla, led by Elon Musk, exceeded expectations by delivering 466,140 cars globally, while BYD, China's leading car brand, achieved its best-ever quarter with 700,244 fully electric and plug-in hybrid vehicle sales.
Construction work for the new Megapack plant in China is expected to begin later this year, with battery production due to get underway by the summer of 2024.
Extreme weather across Europe has caused four deaths in storms in Switzerland and northern Italy, while wildfires have forced evacuations in Greece and Turkey.
