BANGKOK (Reuters) - China's BYD will acquire a 20% stake in its local distributor Rever Automotive in Thailand, its largest market outside of China where it is an electric vehicle market leader, the companies said Saturday. The Shenzhen-based automaker opened its first factory in Southeast Asia in Thailand this week. The $490 million factory will have an annual manufacturing capacity...

SHENZHEN, China (Reuters) - The China Association of Automobile Manufacturers (CAAM) is strongly dissatisfied with anti-subsidy tariffs proposed by the European Union, the industry group said in a statement on Saturday. Manufacturers had cooperated with the European Commission's investigation into Chinese subsidies, but the inquiry had ignored the facts and preselected results, CAAM said in a post on the Chinese...

CHICAGO, July 6 (Reuters) - NASCAR unveiled an all-electric prototype racecar on Saturday and announced an electrification deal with ABB Ltd that it says will advance sustainability goals as the U.S. stock car racing giant targets net zero operating emissions by 2035. There are no plans for an EV racing series, however, as the car was built as a demonstration...

AIX-EN-PROVENCE, France (Reuters) - China's anti-dumping probe into Europe's cognac industry is a tit-for-tat reaction to European Union tariffs on Chinese electric vehicles, the finance chief at Hennessy cognac owner LVMH said on Saturday. China announced plans on Friday for a hearing on European brandy imports, ramping up tension on the same day the European Commission's provisional tariffs on Chinese-made...