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'Nepal chose China over us': Blunt warning sounds alarm for Indian EV carmakers
Business Today
·
3m ago
Medial
Nepal, a power-surplus country with 85% of its electricity derived from hydropower, views electric vehicles as a strategic solution to reduce its reliance on imported petrol and diesel, sourced entirely from India. This shift towards electric vehicles highlights Nepal's commitment to leveraging its abundant clean energy resources, while also decreasing dependency on Indian fuel imports, potentially impacting Indian electric vehicle manufacturers as Nepal aligns more closely with Chinese partners for its energy and transport needs.
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Kevin O'Leary, the 'Mr. Wonderful' from Shark Tank, Sounds the Alarm A Looming Financial Crisis Threatens Small Business Owners
Business Bytes
·
1y ago
Medial
Kevin O'Leary, the 'Mr. Wonderful' from Shark Tank, Sounds the Alarm A Looming Financial Crisis Threatens Small Business Owners In the world of business, Kevin O'Leary, affectionately known as "Mr. Wonderful" from the hit TV show Shark Tank, is renowned for his no-nonsense approach to investments and his sharp eye for opportunities. However, his latest warning isn't about the next big deal; it's about a financial crisis that's quietly creeping up on us all.
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Mahindra calls for EV level playing field amid Tesla's India entry plans
Reuters
·
1y ago
Medial
Indian automaker Mahindra & Mahindra has urged the government for a level playing field between domestic and foreign players in the electric vehicle (EV) market. They emphasize the promotion of local manufacturing as India plans to attract Tesla and other global carmakers. Mahindra, along with Tata Motors, have privately requested not to reduce import taxes on EVs to protect domestic firms and their foreign investors. Indian EV sales experienced significant growth in 2021, with Mahindra expressing their commitment to listing their EV unit in the future.
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Congress questions govt over Asean issue and US travel advisory
Economic Times
·
1m ago
Medial
Congress criticized Union Commerce Minister Piyush Goyal's remarks calling ASEAN a "B-team of China," saying it was a diplomatic misstep. The ASEAN co-chair for India FTA review reportedly admonished Goyal, further perceived as damaging to Indian diplomacy. Additionally, Congress condemned the US travel advisory warning Americans, especially women, about traveling alone to India, questioning the silence of the Indian government on the matter while contrasting the advisory against Pakistan.
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Elon Musk wants to sell more Teslas in Japan. Here's why that could be tricky.
Business Insider
·
1y ago
Medial
Tesla CEO Elon Musk is looking to improve the company's sales in Japan, but the country has been slow to adopt electric vehicles (EVs). Despite Musk's prediction that Japan would become Tesla's largest market outside of the US, the EV maker is struggling to gain market share in Japan. This is not unique to Tesla, as all EV makers are facing challenges in making an impact in the Japanese market. Hybrids have dominated the Japanese market, and leaders in the industry have been hesitant to embrace battery-powered alternatives. This has also hindered the development of charging infrastructure in the country. Japanese carmakers, including Toyota and Honda, have plans to increase their EV efforts in the coming years.
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China’s Rare Earth Curbs Hit Key Automakers, Threaten India’s EV Push
OutlookIndia
·
2m ago
Medial
India's electric vehicle (EV) sector faces significant challenges due to China's restrictions on rare earth exports, essential for EV production. As a major supplier, China's move disrupts supply chains and impacts production costs. Indian automakers like Suzuki and TVS Motor are already experiencing production halts. This trade restriction is part of broader geopolitical tensions, particularly between China and the US, emphasizing the need for India to seek alternative supply sources or strategies.
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We challenge OEMs to invest in India, compete with us: M&M's Anish Shah
Livemint
·
1y ago
Medial
Mahindra Group's CEO, Anish Shah, has thrown a challenge to global carmakers to invest in India and compete with local manufacturers like Mahindra in the electric vehicle (EV) segment. He expressed confidence in Mahindra's ability to compete with the best products in the market and highlighted the company's successful track record in India. Shah's comments come amidst speculation of an imminent import duty cut on EVs, which could attract foreign players to invest in the Indian market. Mahindra has already committed significant investments in its EV program and plans to launch five EVs by the end of 2024.
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Tim Cook's comments about iPhone sales in China just cost Apple $490 million
Business Insider
·
1y ago
Medial
Apple has agreed to pay $490 million to settle a class-action lawsuit filed by shareholders. The lawsuit, lodged in 2019, alleged that Apple's CEO, Tim Cook, made false comments about the company's sales in China during a 2018 earnings call. Cook had stated that China was performing well, but shortly after, Apple reduced its revenue forecast and blamed slumping sales in China. The settlement amount is equivalent to about two days of Apple's net income for 2023. The settlement still needs approval from a US District Judge. Apple denied wrongdoing but chose to settle to avoid prolonged litigation.
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The US is firing back again in the great China chip wars
Business Insider
·
1y ago
Medial
The US is ramping up its actions against China in the ongoing chip battle between the two countries. The Biden administration is reportedly considering imposing sanctions on Chinese semiconductor firms connected to Huawei Technologies. At the same time, the US government is set to announce $8.5 billion in grants to Intel for the construction and expansion of chip facilities across the country. These moves are part of the US's efforts to restrict China's chip industry while boosting its own semiconductor manufacturing and AI capabilities. China, in turn, is encouraging its EV makers to prioritize local chipmakers over US ones.
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In Beijing, Dutch PM Mark Rutte raises cyberespionage with China's Xi Jinping
Economic Times
·
1y ago
Medial
Dutch Prime Minister Mark Rutte has discussed a cyberespionage incident attributed to China during talks with President Xi Jinping. Dutch intelligence agency MIVD last month identified cyber spies gaining access to a military network, part of a larger trend of Chinese political espionage against the Netherlands and its allies. The Dutch government publicly attributed the cyberespionage to China for the first time. This comes as tensions between Beijing and Western countries increase over issues of cyber espionage and the restriction of high-tech exports to China. Western intelligence agencies have been sounding the alarm on Chinese state-backed hacking activity.
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Ola Group holds more than half of patents granted to 117 unicorns
Economic Times
·
3m ago
Medial
Ola Group, encompassing ride-hailing, electric vehicles, and AI, holds over 50% of all patents filed by India's 117 unicorns, despite many unicorns having zero patents. With over 650 applications and 180 granted, Ola Electric leads in filings, particularly in EV innovations. Ola's R&D spending reached 19.3% of its revenue, indicating a commitment to technology creation over mere market capture. Globally, Ola’s patents extend to the US, UK, Japan, China, and Australia.
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