Brian Gu, Xpeng’s co-president, argued Wednesday that fierce local competition, not state support, explains China’s EV success.

Options include contract manufacturing, tapping existing factories or a new assembly plant, top company official says.

Hungary will veto an EU proposal that seeks to impose tariffs of up to 45 per cent on imports of electric vehicles (EVs) made in China as the plan is "harmful and dangerous", Hungarian Foreign Minister Peter Szijjarto said on his Facebook page on Thursday.