The European Commission will uphold its 2035 ban on petrol cars but allow flexibility over the next three years in how carmakers meet stricter CO₂ emission targets entering into force this year, according to Commission president Ursula von der Leyen.

Zeekr Group bought out Volvo's share in Lynk & Co in February, as part of a brand reshuffle within their parent Geely. Geely-owned Lynk & Co will launch a plug-in hybrid SUV in June with the longest electric range in Europe,

BYD plans to raise $5.2 billion through a share sale in Hong Kong to fund its overseas expansion and research and development efforts.

Renault SA is forecasting roughly stable returns this year as the French manufacturer continues an overhaul of its lineup to counter muted demand for electric vehicles in Europe.