India’s steel companies are well-positioned within the global metals sector. India’s steel industry is set to expand significantly over the next few years, with plans to add around 23 million tonnes (MT) of crude steel capacity between FY24 and FY27, according to a report by Nomura. As per the report, the industry is reflecting a… Continue reading Indian steel majors best-placed producers globally: Nomura
Author: Economic Times of India Online News
BSL to set up two Greenfield steel units
BSL to set up two Greenfield steel units. Bokaro Steel Plant (BSL) has unveiled plans for the establishment of two Greenfield steel units, each with a capacity of 5 million tonnes per annum (MTPA). However, BSL’s focus is on a brownfield project aimed at increasing its crude steel production from the existing 4.66 MTPA to… Continue reading BSL to set up two Greenfield steel units
Xpeng exploring localization options in Europe as Tariff vote looms
Xpeng exploring localization options in Europe as Tariff vote looms. Chinese automaker Xpeng Inc. is looking at several options in Europe that may help it to localize production and sidestep tariffs the bloc is levying on electric vehicles made in Asia’s biggest economy. “We’re looking at multiple options, ranging from contract manufacturing to working with… Continue reading Xpeng exploring localization options in Europe as Tariff vote looms
China files appeal to WTO on Canada’s tariffs on EVs, metal products
China’s commerce ministry said on Wednesday it has asked the World Trade Organization (WTO) to rule on Canada’s imposition of steep tariffs on Chinese electric vehicles as well as steel and aluminum products. Following the lead of the United States and European Union, Canada began imposing on Tuesday a 100% levy on EVs shipped from… Continue reading China files appeal to WTO on Canada’s tariffs on EVs, metal products
EU has enough support to impose Chinese EV tariffs, say sources
France, Greece, Italy and Poland will vote in favour, officials and sources in those countries told Reuters. Together, they represent 39% of the EU population. France, Greece, Italy and Poland will vote on Friday in favour of tariffs of up to 45% on imports of electric vehicles (EVs) made in China, sources said, enough to… Continue reading EU has enough support to impose Chinese EV tariffs, say sources
Macron backs Chinese EV tariffs as Scholz calls for dialogue
French President, Emmanuel Macron. French President Emmanuel Macron reaffirmed his support for EU tariffs on Chinese electric vehicles, during a visit to Berlin on Wednesday. Macron had earlier met with Chancellor Olaf Scholz, whose government fears a trade war with China that could hurt Germany’s crucial auto sector. Brussels plans to levy additional duties of… Continue reading Macron backs Chinese EV tariffs as Scholz calls for dialogue
Global hydrogen production set to surge despite uncertainties: IEA
The report points out that if all announced hydrogen projects come to fruition, total global production could hit 50 million tonnes per year by the end of the decade. New Delhi: Global low-emissions hydrogen production could increase fivefold by 2030, driven by a wave of new projects that have reached final investment decisions in the… Continue reading Global hydrogen production set to surge despite uncertainties: IEA
China files appeal to WTO on Canada’s tariffs on EVs, metal products
The ministry repeated its strong opposition to the tariffs, which it says will “disrupt and distort global industrial and supply chain.” China’s commerce ministry said on Wednesday it has asked the World Trade Organization (WTO) to rule on Canada’s imposition of steep tariffs on Chinese electric vehicles as well as steel and aluminum products. Following… Continue reading China files appeal to WTO on Canada’s tariffs on EVs, metal products
Vivriti Capital secures USD 25 mn from ADB for climate finance projects
At least 30% of the funds will be directed toward the EV ecosystem, such as charging stations and battery-swapping infrastructure, in addition to on-lending to retail borrowers for EV purchases. New Delhi: Vivriti Capital Limited (VCL), a leading mid-market non-banking financial company (NBFC), has raised USD 25 million from the Asian Development Bank (ADB) to… Continue reading Vivriti Capital secures USD 25 mn from ADB for climate finance projects
Consumer spending patterns reshaping auto sector: Vijayaraghavan Swaminathan
Vijayaraghavan Swaminathan, Avendus Spark Institutional Equities. “This is what is leading to capex recovery from the large sectors. On top of it, if you look at the last 12-18 months, there is a clear improvement in balance sheet cycle of mid and small size companies,” says Vijayaraghavan Swaminathan, Avendus Spark Institutional Equities. When you talk… Continue reading Consumer spending patterns reshaping auto sector: Vijayaraghavan Swaminathan