The German carmaker outlined ambitious goals to build battery factories as it ties its fate to electric cars.
A series of announcements has not only reversed the decline of Canada’s auto industry, but has also set it on the path to electrification.
Nio can tap an extensive supply chain that Beijing has built to achieve its dream of dominating the manufacture of electric cars.
Carmakers, government agencies and investors are pouring money into battery research in a global race to profit from emission-free electric cars.
With government support and lavish subsidies, Chinese companies have come to dominate the market for batteries, motors and other essentials Detroit may need for its new fleets.
Lacking a strong domestic battery industry, Britain may be left behind by the shift to electric cars.
Rivian, which has raised another $2.65 billion, plans to sell a pickup truck and S.U.V. it has worked on for more than a decade.
The milestone seemed unreachable just three years ago and comes as Tesla has seen a string of profitable quarters and a buoyant stock.
As Tesla completes a factory in Berlin, Mercedes-Benz and Audi are introducing electric cars in bids to defend their dominance of the luxury market.