China’s new-energy auto firms saw shares surge in Monday morning trade, extending recent strong gains, after a government official said over the weekend that China had begun looking at a ban on traditional petrol-engine cars.
Hyundai had initially championed fuel cell technology as the future of eco-friendly vehicles but has found itself shifting electric as Tesla shot to prominence and battery-powered cars have gained government backing in China.
Infineon will supply parts to Tesla's upcoming mass-market Model 3 electric car, the German chipmaker said on Tuesday, after being beaten out as initial supplier by Franco-Italian rival STMicroelectronics for the coveted deal.
Sebastian Vettel won a tense Hungarian Grand Prix on Sunday in a Ferrari one-two that stretched his championship lead to 14 points after Mercedes rival Lewis Hamilton sportingly surrendered third place to his team mate.
Grab, Uber Technologies Inc's biggest ride-hailing competitor in Southeast Asia, said it expects to raise $2.5 billion in its latest financing round that will help bolster its leading position in the region and grow its payments platform.
The issue of what government should do about Transport Network Vehicle Services, such as Uber and Grab, had Cabinet secretaries debating the matter in front of leading businessmen in Davao City Friday.