A man charges his car in a multifunctional new energy vehicle charging station in Hefei, capital of east China's Anhui Province, July 4, 2023. - Photo: Xinhua file
SHANGHAI: (Bernama-Xinhua) The rapid evolution of China's new energy vehicle (NEV) sector is driving multinational corporations to restructure their China strategies, prompting some to scale up local investments across research and development (R&D), production and supply chains, Xinhua reported.
German chemical giant BASF earlier this week announced a 500-million-yuan (about US$69.3 million) investment for the expansion of its Shanghai Cellasto plant, which provides noise, vibration and harshness reduction solutions for automobiles.
