A Chinese electric vehicle (EV) boasting 1,562bhp has shattered its previous Nürburgring lap time, securing the third-fastest position overall.

Polestar announced a $200 million equity investment from PSD Investment, controlled by Geely Holding Group’s founder, to fuel global expansion and market competitiveness.

Tesla CEO Elon Musk announced the company will begin self-delivering Model Y vehicles directly from the factory to customers, eliminating the need for showroom pickups.