AMERICAN FACTORIES
For American brands worried about China, Is India the future?
The surge of multinational brands in India's manufacturing sector signals a shift towards diversification and job creation. Companies like Shree Krishna are fulfilling substantial orders for global retailers, highlighting India's growing importance in the global supply chain.
US automobile industry threatened by prospects of Chinese EVs entering the country through the Mexican border
The US automobile industry has been threatened by the prospects of low-cost Chinese Electric Vehicles (EVs) reaching the country through the Mexican border. The US-Mexico-Canada trade agreement provides for free movement of goods and services between the three countries. The average price of an EV manufactured in the US has been priced at $55,000 and the Chinese EVs are priced at half this rate.
In China's backyard, America has become a humbler superpower
Far from Ukraine and the Gaza Strip, as the Group of 7 wealthy democracies gathered in Italy to discuss a range of old, entrenched challenges, the nature of American power is being transformed across the region that Washington sees as crucial for the century to come: the Asia-Pacific.
China’s $8.5 billion in steel spurs Latin America toward tariffs
Mexico, Chile, and Brazil have increased duties on steel products from China. In some cases, the duties have more than doubled over the past few weeks. Colombia may also be planning to do the same.
Biden's China tariffs are the end of an era for cheap Chinese goods
Biden's decision this past week to codify and escalate tariffs imposed by Trump made clear that the United States has closed out a decades-long era that embraced trade with China and prized the gains of lower-cost products over the loss of geographically concentrated manufacturing jobs. A single tariff rate embodies that closure: a 100% tax on Chinese electric vehicles, which start at less than $10,000 each and have surged into showrooms around the world but have struggled to crack government barriers to the U.S. market.
Few Chinese electric cars are sold in U.S., but industry fears a flood
American automakers expressed their approval of the Biden administration's decision on Tuesday to levy a 100% tariff on electric vehicles imported from China. They stated that these vehicles could undercut billions of dollars of investments made in electric vehicle and battery manufacturing facilities in the United States.
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US efforts to reshape global supply chains gather pace in Asia
President Joe Biden's tariff hikes on Chinese imports are reshaping Asian trade routes, with Taiwan's exports to the US surging over 80% in April.
Small, well-built Chinese EV called the Seagull poses a big threat to the US auto industry
The Seagull, a low-priced electric car by BYD, poses a threat to American automakers. Chinese EVs face tariffs in the U.S., prompting concerns about the impact on the auto industry and the need for adaptation and competition.
China’s factory glut alarms the world but there’s no quick fix
Complaints about China's factory overcapacity are growing, but Beijing is hesitant to make changes that could harm its fragile economy. The EU criticized China for overproduction, urging action in the short term. China announced plans to slow expansion in the battery industry, but they are not binding. The country insists its industries are competitive due to innovation, not subsidies, and will continue supporting high-tech sectors despite international pressure. China's surplus production, stemming from a real estate slump, poses challenges.
MS Dhoni-backed EMotorad’s e-cycle gigafactory almost ready
The e-cycle maker's gigafactory is being built in four phases. It will manufacture a range of components including batteries, motors, displays and chargers. The 2,40,000-sq.ft. facility is scheduled to be inaugurated on August 15. The factory, which will become South Asia's biggest integrated e-cycle unit, is set to employ more than 300 people.
Micron set to get $6.1 billion in chip grants from US
The award, which is not yet finalised, will fund chipmaking facilities in New York and Idaho from the CHIPS & Science law, the senator said in a statement.
US-China tariffs: After issuing factory capacity warning to China, Yellen faces tariff decisions
U.S. Treasury Secretary Janet Yellen delivered a firm message to China on overinvestment in clean energy goods during her visit to Guangzhou and Beijing. She faces the tough decision of recommending increased U.S. tariffs on Chinese electric vehicles and solar panels to protect American producers and workers or pursuing dialogue for alternative solutions. The trip garnered positive attention from Chinese officials and social media, but pushback from state media and officials challenges Yellen's assertion of China's excess manufacturing capacity flooding global markets.
Most new US cars to be EV or hybrids by 2032
Nearly three years in the making, the new tailpipe pollution limits from the Environmental Protection Agency would transform the American automobile market. A record 1.2 million electric vehicles rolled off dealers' lots last year, but they made up just 7.6 percent of total US car sales, far from the 56 percent target under the new regulation. An additional 16 percent of new cars sold would be hybrids.
China's exports are surging. Get ready for the global backlash
The world's appetite for its goods is welcomed by China, which is enduring a severe downturn in what had been the economy's biggest driver of growth: building and outfitting apartments.
Rupee rises 4 paise to 82.87 against US dollar in early trade
At the interbank foreign exchange, the domestic currency opened at 82.86 and slipped further to trade at 82.87 against the greenback, registering a gain of 4 paise from its previous close.
Robot invasion hit a bump in 2023 as North American economy cooled
Companies bought 31,159 robots in 2023, a decrease of 30% over the year before, the largest drop in percentage terms since 2006 and largest drop ever in net units, according to the group, known as A3. The pullback occurred in automotive-related industries - which made up about half of the market last year - as well as other sectors such as food and metals manufacturing.
India’s true manufacturing rival is not China, it's someone else
India needs to shift its focus from the domestic market and become regionally competitive and export-driven if it wants to build a robust computer and electronics manufacturing industry. Vietnam, not China, is its biggest rival in this regard. The US and other countries have called on India to make its business environment more transparent and easier to navigate to attract foreign direct investment. Cutting import duties should be a priority. India's higher import taxes and complicated business environment make it less competitive compared to regional rivals like Vietnam.
Airlines learn patience in constrained Airbus-Boeing duopoly
Besides questions about quality control following the Alaska Airlines incident on the 737 MAX 9, Boeing has yet to receive certification on the 737 MAX 7 and the 737 MAX 10 -- the smallest and largest versions of the single-aisle model. Given the uncertain timeframe, airlines are retooling their schedules. Like Airbus, Boeing's order book is robust, with more than 4,000 orders across the MAX program out of a total of 5,626 plane orders.
Quality control at heart of latest Boeing crisis
The Alaska Airlines episode represents the most serious operational problem for Boeing since two crashes on 737 MAX 8 planes in 2018 and 2019 resulted in 346 causalities and led to a lengthy grounding of the jet.
South American nations showing interest in Pinaka, India working on developing 120 Km, 200 Km rockets for it
In what could be a significant success for indigenous weapon systems, two South American countries have shown interest in the Pinaka multi-barrel rocket launchers. The Defence Research and Development Organisation (DRDO) is also developing rockets that would be able to strike targets at 120 km and 200 km.
Flush with funds, US factories stare at China challenge
The Biden administration invests $2 trillion in US factories and infrastructure to strengthen American industry and combat climate change. However, low-priced products from China pose a threat, leading President Biden and his aides to consider protectionist measures. Concerns about China violating global trade rules have prompted calls for higher tariffs on Chinese imports in the US and Europe.
India's top solar panel maker Waaree to invest $1 billion in Texas factory
The announcement is the latest major corporate commitment to solar manufacturing since passage of U.S. President Joe Biden's landmark climate change law last year which offers subsidies and tax breaks for clean energy projects.
Biden administration chooses military supplier BAE Systems for first CHIPS Act grant
BAE Systems is expected to receive a $35 million grant to quadruple its domestic production of a type of chip used in F-15 and F-35 fighter jets, as well as satellites and other defense systems.
Tesla ready to drive in up to $2 billion, but with riders
According to sources aware of the matter, Tesla has approached the union government with a detailed proposal linking the quantum of investment to the number of cars it can import at lower duty. The company is willing to invest up to $500 million if the government extends concessional tariff for 12,000 vehicles and can increase this up to $2 billion if the reduced duty is approved for 30,000 vehicles.
On American shelves, Made-in-India is slowly replacing Made-in-China
While US goods imports from China declined by 10% from 2018 through 2022 in inflation-adjusted terms, they rose by 44% from India, 18% from Mexico and 65% from the 10 countries of the Association of Southeast Asian Nations (ASEAN), a recent study by Boston Consulting Group has pointed out.
US solar panel manufacturing boom threatened by cheap imports
The US solar industry, driven by government incentives, faces a dilemma as falling global solar panel prices threaten the viability of new factories. Government support and effective policies are crucial to sustain clean energy goals.
Vietnam's Vinfast committed to selling EVs to US despite challenges, intense competition
Worldwide, Vinfast sold just 19,562 EVs from April-September, well below its 2023 target of 50,000. But Vinfast is committed to riding the wave of countries trying to switch to EVs to cut emissions, Thuy said while speaking with The Associated Press at Vinfast's sleek headquarters in Hanoi.
Tesla joins GM, Ford in slowing EV factory ramp as demand fears spread
Tesla, along with General Motors and Ford, has expressed caution about expanding electric vehicle (EV) production due to economic uncertainties and concerns about a slowdown in demand. CEO Elon Musk cited worries about higher borrowing costs affecting customers' ability to afford Tesla vehicles, despite significant price cuts. Musk also mentioned the impact of economic uncertainty on consumer purchasing decisions. These cautious remarks have led to a decline in Tesla's shares and those of other EV makers.
TSMC expects permanent US approval to supply chip tools to its China factory
Last October, the Biden administration published a sweeping set of export controls, including a measure to cut off China from certain semiconductor chips made anywhere in the world with US tools, vastly expanding the reach of a bid to slow Beijing's technological and military advances.
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