Volkswagen AG's joint venture with SAIC Motor will end production of the Santana, Skoda's Rapid and a current version of Tharu sport-utility vehicles (SUV) at its plant in the eastern city of Yizheng.

Italvolt has pledged to invest 3.4 billion euros ($3.9 billion) to build a battery production facility in Scarmagno, near Turin, to meet growing demand for lithium-ion batteries from Europe's automotive industry.

Bedeo is buying Protean from National Electric Vehicle Sweden, a unit of Evergrande New Energy Vehicle Group.

Tesla boss Elon Musk took to Twitter on Monday to say that his company had not signed a contract with Hertz, spurring a brief halt in Tesla's stock rally.

The latest funding comes on the heels of a $160 million round in August that boosted the companys valuation to $890 million, according to investor website PitchBook.