Chinese carmakers roll out feature-rich premium EVs at lower prices, as German rivals grapple with falling China sales and intensifying global competition.
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The slump comes after Iran effectively closed the Strait of Hormuz, through which key energy supplies and fertiliser-linked inputs pass.
Victory Giant Technology Huizhou will use most of the proceeds to expand production in mainland China.
No abrupt changes to fuel subsidies despite Mideast tensions, says Fadillah
The deputy prime minister says the government will rely on data when deciding policies.
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