SK Innovation Ltd's battery unit SK On said that under the terms of the memorandum of understanding (MOU), it will provide its batteries to the auto group's plants in the United States after 2025 for electric vehicle production.
The Serbian government has agreed to provide funding of up to 419 million euros ($431 million) including grants and tax incentives to support the project, InoBat said.
BYD said it would launch a new premium brand in the first quarter of 2023 under the name Yangwang, with its first model slated to be an off-road vehicle.
One focus of the redesign is to reduce the number of components and complexity in the interior of the Model 3 while focusing on features that Tesla buyers value