The two proxy advisory firms have recommended the shareholders not to support Musk’s pay structure.

Analysts have estimated that the Xiaomi SU7 will be priced at USD 27,668.26 to USD 41,502.39 or above.

The cons of such rigorous discounting is that BYD is suffering in terms of its domestic profit margins.

Cash-strapped startup Fisker has been left to search for strategic options including in- or out-of-court restructurings.

One entity will include commercial vehicles business while the other will manage passenger vehicles, electric vehicles and JLR businesses.

The decision to defer POwerCO’s IPO comes at a time when the capital-market enthusiasm for EVs has cooled as sales growth has slowed.

BYD’s push into Mexico foreshadows a competitive threat to the local automakers as well as to companies operating in the US.

Automakers have reiterated their call for more government subsidies and improved charging infrastructure to stimulate demand for EVs.

The first delivery volumes from Franco-Italian automaker Stellantis are expected to begin in the first half of this year.

While European automakers are reliant on external suppliers, Chinese rivals are highly vertically integrated, producing almost everything in-house.