Chief Executive Officer Herbert Diess called China the company’s “second home market” this week.

Wind, solar, geothermal, biomass, and small hydropower are now 13% of global power generation.

The London Metal Exchange Index has tumbled 23% since the end of March.

"We still see metals falling as a recession in the US is fully priced in," said Commerzbank analyst.

"Market participants want to see actual demand rising, rather than officials talking about it."

Analysts expect the firm to sell 1.5 million vehicles this year, doubling from 2021.

A pro-China propaganda campaign used fake social media accounts to try to stir up opposition, including protests, against mining firms that challenge China's business interests.

Beijing and Shanghai recording no new local covid-19 cases sparked a broad-based rally in metals.