The first plant in Guangzhou began operations in 2023. It is capable of manufacturing hydrogen fuel cell systems that can power 6,500 hydrogen commercial vehicles. Hyundai Motor plans to build its first hydrogen fuel cell systems plant in South Korea for the start of operations in 2028, the company’s labour union claimed on Tuesday. Hyundai… Continue reading Hyundai Motor planning to build 1st local hydrogen fuel cell plant
Author: Economic Times of India Online News
Musk says juggling DOGE and CEO jobs is difficult, as Tesla shares slump
“The public eye seems to be coalescing around what he’s doing for the federal government. Elon Musk is running his businesses “with great difficulty” while working with the Trump administration, the Tesla CEO said on Monday in an interview with Fox Business. His remarks followed Tesla losing $130 billion in stock market value in a… Continue reading Musk says juggling DOGE and CEO jobs is difficult, as Tesla shares slump
Danieli, newcleo team up to explore nuclear-powered green steel production
Danieli, an Italian group that builds iron and steel making plants, and newcleo said on Monday they signed a memorandum of understanding to explore the integration of the nuclear firm’s small advanced reactor technology into steel-making. The agreement laid the basis to help decarbonise steel production through combined electricity and heat coming from nuclear energy,… Continue reading Danieli, newcleo team up to explore nuclear-powered green steel production
Lok Sabha MPs push for maritime sector reforms, highlight port development
From port infrastructure development to streamlining documentation, Lok Sabha MPs from port cities offered a range of recommendations on Monday to strengthen India’s maritime sector. The members were participating in the discussion on the Bills of Lading Bill 2024 which seeks to make provisions for the transfer of rights of suit and all liabilities to… Continue reading Lok Sabha MPs push for maritime sector reforms, highlight port development
Maharashtra secures Rs 21,500 crore funding for Mumbai Road Project
Maharashtra state has obtained Rs 21, 500 crore worth of funding commitments from lenders for a road project near Mumbai, according to people familiar with the matter. Maharashtra State Road Development Corporation Ltd., a unit of the state government, has obtained lenders’ commitment for credit lines to fund building the high-end road, said the people,… Continue reading Maharashtra secures Rs 21,500 crore funding for Mumbai Road Project
Musk calls on US to quit NATO, stop paying for defence of Europe
Under a 2023 law, a president can’t unilaterally withdraw from the alliance without a two-thirds supermajority in the Senate or an act of Congress. Billionaire Elon Musk threw his weight behind a US exit from NATO, saying on his social media platform that it “doesn’t make sense for America to pay for the defense of… Continue reading Musk calls on US to quit NATO, stop paying for defence of Europe
Rupee slumps on strong demand to buy dollars at daily fix, weak yuan
The dollar index has fallen more than 3% in March so far. The Indian rupee weakened on Monday on the back of strong demand to buy dollars at the daily reference rate and as the Chinese yuan slipped amid worries about the country’s economy and a global trade war. The rupee declined 0.4% to 87.26… Continue reading Rupee slumps on strong demand to buy dollars at daily fix, weak yuan
US tariff imposition to hit pharma segment; auto sector likely to face minimal impact
“There can be some impact, especially for the automotive components market.” Enhanced tariffs on pharma imports in the US can severely impact Indian drug manufacturers as it would lead to higher production costs, making shipments less competitive against products from other countries. Smaller drug firms operating on thin margins can face severe pressure potentially forcing… Continue reading US tariff imposition to hit pharma segment; auto sector likely to face minimal impact
India, EU to hold next round of FTA talks from Monday amid Trump tariff threats
India exported USD 76 billion in goods and USD 30 billion in services to the EU. India and the 27-nation European Union (EU) bloc will start the tenth round of negotiations for a proposed free trade agreement from Monday in Brussels amid Trump tariff threats, according to an official. The talks are expected to focus… Continue reading India, EU to hold next round of FTA talks from Monday amid Trump tariff threats
Rich Chinese investors seen buying into Elon Musk’s companies
Musk has long had contact with senior Chinese officials, including President Xi Jinping. Wealthy Chinese investors are funneling tens of millions of dollars into private companies controlled by billionaire Elon Musk, using an arrangement that shields their identities from public view, the Financial Times reported on Sunday. The investments are being placed through special-purpose vehicles… Continue reading Rich Chinese investors seen buying into Elon Musk’s companies