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The mass production of Apple’s new and cheaper iPhone model, which was planned to start in late February, is likely to be delayed until sometime in March. iPhone supplier on average are operating at 30 percent to 50 percent of capacity, and the constrain will likely extend to April. (Nikkei)

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Faw Car Co., Ltd. (000800.SZ) is approved by the Chinese securities regulator to buy a 100% stake in truck manufacturer Faw Jiefang with 27 billion yuan, according to a filing released by the company.

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US retailing giant Costco is going to open its second store in Shanghai.

On Tuesday, a subsidiary of Costco and a Chinese company co-bought a land in an industrial area in Shanghai Pudong District with 898 million yuan, which is only one metro station away from Shanghai Disneyland and is believed to be where the second Costco store will locate. (CCTV)

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Tesla is in talks with China's leading battery maker CATL to use the latter's product for its cars made in the Shanghai Gigafactory, reported Reuters. Adoption of CATL’s LFP batteries, which do not contain the expensive material cobalt, would lower battery cost by a “double digit percent”.

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Stock of Apple fell by 3.65 percent pre-market after the it warned investors Monday that it won’t meet Q2 financial guidance as the coronavirus outbreak in China has disrupted production of iPhones. Though all factories in China has reopened, the speed of production is picking up slowly.