Sony Group (6758.T) and Honda Motor (7267.T) have opted to explore new opportunities through their 50-50 joint venture, following the cancellation of the Afeela 1 electric vehicle, according to a report from the Nikkei newspaper on Friday.

BMW AG is recalling nearly 700,000 vehicles in China due to coolant pump defects, a fresh setback for the German carmaker that’s reeling from other vehicle faults.

Mercedes-Benz, Germany’s top luxury carmaker, announced on Wednesday that it plans to invest an additional CNY 14 billion (USD 1.97 billion) in the Chinese market, according to Xinhua.

Shares in Volkswagen, Europe's largest carmaker, fell 1.4% in early trade on Wednesday after saying it would invest up to $5 billion as part of a planned joint venture with electric vehicle maker Rivian, News.Az reports citing Reuters.