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Unusually Large Business Delegation to Join Xi's US Visit, with BYD and Xiaomi Among Candidates
The US and Chinese governments are finalizing the selection of top Chinese business figures to accompany President Xi Jinping on his visit to the United States, according to three people familiar with the matter. According to the sources, candidates include Chinese electric vehicle giant BYD, smartphone maker Xiaomi, which has also expanded into EVs, battery giants CATL and Gotion High-Tech, home appliance maker Hisense Group, auto parts supplier Wanxiang Group, state-owned Bank of China, and agricultural conglomerate COFCO. Accompanying a large business delegation to the United States would be an unusual move. According to the people, the finalization of the delegation's members will wait for talks this weekend between US Treasury Secretary Bessent and Chinese Vice Premier He Lifeng, with formal invitations to be sent to each company within the next few days, and the US State Department is expected to approve visas for the delegation. CATL and BYD were added to the US Department of Defense's corporate list in January 2025 and June 2026, respectively, over alleged ties to the Chinese military. China's Foreign Ministry, responding to a Reuters question, said it had no information.
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Factorial Energy jumps 14.4% on Mitsui Kinzoku solid-state battery deal
Factorial Energy shares jumped 14.4% in Thursday's trading after the company said it will partner with Japan's Mitsui Kinzoku to accelerate the global scale-up of its Solstice all-solid-state battery platform. Mitsui Kinzoku produces sulfide-based solid electrolytes for all-solid-state batteries and is one of few companies worldwide with foundational technology in this space, Factorial said. The Japanese company also produces ultra-thin copper foil and holds an estimated 90% share of the semiconductor market for that foil. Mitsui Kinzoku Senior Executive Officer Kiyotaka Yasuda said the two companies aim to accelerate the realization of next-generation batteries by combining Mitsui Kinzoku's long-established expertise in materials and manufacturing technologies with Factorial's advanced technological capabilities. Factorial Energy shares began trading on Nasdaq in June following the completion of its business combination with Cartesian Growth Corporation III.
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European BEV sales rise 54% year-on-year in August, accounting for 30% of new cars
New registrations of battery electric vehicles in Europe rose 54.2% year-on-year in August, accounting for roughly one in three new cars sold and far outpacing forecasts for 2026. According to data from E-Mobility Europe, New Automotive and Fierce Automotive, BEV registrations across 16 major European markets rose to 202,833 units, giving fully electric vehicles a market share of 30.5%. BEV registrations across Europe as a whole have exceeded 1.67 million units since the start of the year, up 33.1% from the same period a year earlier. T&E had forecast a BEV share of 23% in the EU this year, while Rho Motion expected around 21% for Europe as a whole, but BEV registrations in the 16 markets have risen 33.1% year-to-date, exceeding forecasts for the combined plug-in market of BEVs and plug-in hybrid vehicles. By country, France's BEV market share rose to 38.3% in August and Germany's to 32.5%, with fully electric registrations reaching 36,159 units in France and 68,980 units in Germany. Among Europe's most electrified markets, Norway led with a BEV share of 98.7%, followed by Denmark at 85.9%, Finland at 52.3%, the Netherlands at 48.9%, Belgium at 46.2% and Portugal at 36.1%.