The Cool Down

Plug-in electric cars accounted for a quarter of all new car sales worldwide last year, according to figures highlighted by InsideEVs. The number cuts against talk of an EV slowdown, showing that despite cooling growth rates in some markets, electric and plug-in hybrid models continue to take a growing share of the global auto market.

Saudi Arabia has withdrawn from a China-led cross-border currency platform, according to the Financial Times. The move marks a retreat from Beijing's efforts to build alternatives to dollar-based international payments, and it will fuel debate over the pace at which Gulf states are willing to align financially with China. The reported decision has drawn wide attention given the kingdom's central role in global oil trade and dollar settlement.