China's EV buying subsidies for 2025 end in parts of Xian, local media says
Shaanxi Daily
reported on Tuesday.
Some Chinese cities, including Zhengzhou and Luoyang, suspended trade-in subsidies for car buyers because the first round of funding allocated by
Beijing
for the scheme was running out,
Reuters
reported in June.
The state planner and finance ministry said last month that consumer trade-in subsidies for the remainder of the year would be issued in July and October respectively.
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First Post
29 minutes ago
- First Post
Critical minerals: India should bide its time and build strategic capacity
India currently produces only 1 per cent of global output in critical rare earth minerals even though it has 6 per cent of the reserves—but concrete steps are now underway to boost production and diversify supply sources read more A worry about what to do with EV lithium batteries once their life is over, in about eight years, based on current technology, is being addressed. Instead of heaping them up without use, the batteries can be recycled to extract critical rare earth minerals. This process is faster and is at least 25 per cent cheaper than setting up greenfield mines and refining facilities, and it deals with some part of the waste material at the same time. STORY CONTINUES BELOW THIS AD India could even import expired EV batteries to recycle their rare earth minerals and magnets. It already runs some of the largest ship scrappage facilities in the world and attracts many large ships at the end of their useful life from all over the world. China's trade war with America is based on the restricted sale and export of critical minerals/metals/magnets. But it also restricts such sales in general so that the requirements cannot be sourced from third countries not on the embargoed list. This has prompted most of the world to seek alternatives. India and its fast-developing aatmanirbharta manufacturing programme has been hit hard as stockpiles of the rare earth magnets run out. Besides recycling, several countries, including major consumers in the US and Europe, plan to increase the mining of their own resources and set up refining plants for end products. So far, most countries that have been hit with Chinese embargoes were content to source them from China for its cost advantages and the fact that mining and refining rare earth minerals is a highly polluting business. Despite being a near monopoly on the part of China, the price of rare earth minerals, metals, and magnets has been falling, according to Australia. This may be another engineered tactic on the part of the Chinese to keep competition out. STORY CONTINUES BELOW THIS AD However, even as countries resolve to reduce this dependence on China, alternative facilities cannot sprout overnight. The sudden shortage is crippling the Electrical Vehicle (EV) production market. In addition, the renewable energy resources area, in which India has been making rapid strides, is also hampered. Likewise, the crucial defence manufacturing ventures that use sophisticated electronics as well. For the moment the leverage advantage is definitely with China. India is not only planning to mine its own reserves of rare earth minerals but has also been active in setting up trade agreements with other countries in Africa and South America that have these resources. America has large reserves in-country as well and could well become a newly developed source. So while China, because of its dominance and economies of scale in the field, can hamper and disrupt various activities for now, it is probably not for too protracted a period. Other supply chains are under development, with cooperation between nations without involving China. Explorations are ongoing in new countries like Oman, Vietnam, Sri Lanka, and Bangladesh. Thereafter, as this effort is up and running over the next few years, China may find itself in trouble trying to export these very monopolistic resources that it has spent so much time and money developing. STORY CONTINUES BELOW THIS AD Meanwhile, India is already taking some concrete steps. It proposes to incentivise domestic production of rare earth minerals and magnets by Indian companies with an amount of Rs 1,345 crores. The key target sectors are electric vehicles, electronics, and defence. One item, for example, neodymium magnets, is crucial in EVs, wind energy systems, mobile phones, and defence equipment. The early Indian initiative is designed to support the production of 1,500 tonnes of rare earth magnets. India currently produces only 1 per cent of global output in critical rare earth minerals even though it has 6 per cent of the global reserves. India is also exploring a partnership with Australia, which has at least 5 per cent and is selling it to Japan, which has managed to reduce its dependence on China to 60 per cent. However, Australia is highly dependent on China for its trade and investments and cannot go against Chinese wishes. STORY CONTINUES BELOW THIS AD Therefore, India is also looking elsewhere for supplies. Presently, China controls 69 per cent of the rare earth minerals, metals, and magnets production and market. America contributes 12 per cent, Myanmar holds 11 per cent. Myanmar is under strong influence of China, which takes the joint tally to about 80 per cent. The manufacturing process combines light rare earth elements such as neodymium and praseodymium with traces of heavy rare earths such as dysprosium and terbium. Procuring all these elements is not easy. India currently produces the light rare earth items, some 2,900 tonnes worth, and none of the heavy earth minerals. Most of the product is found in coastal beach sands with low mineral content. Samarium-cobalt magnets are being developed in a pilot plant for the defence industry. Explorations are going on in different coastal and sand-rich interior states like Rajasthan. It's lithium that has been discovered in Jammu and Kashmir, but that is another part of the EV jigsaw. STORY CONTINUES BELOW THIS AD Efforts are also ongoing to develop sodium-ion batteries in countries like Japan and ever more efficient internal combustion engines with almost nil pollution in various developed economies. This will prolong and preserve their automotive fuel-based industries. Then, there is propulsion using hydrogen. India has made both buses and trains at the trial stage that can run on hydrogen and have nil pollutants. It also has hydrogen-producing factories. Other technological applications such as nuclear energy are also being explored to take a leaf out of nuclear-powered submarines, aircraft carriers, and some specialised ships. For the moment, however, there is very little option but to persuade China to sell us rare earth minerals and magnets to keep various industries going. This will take negotiation and give and take. America, for example, which had put restrictions on high-end electronic chips from being sold to China, has been forced to lift them in exchange for the rare earth products. STORY CONTINUES BELOW THIS AD The writer is a Delhi-based political commentator. Views expressed in the above piece are personal and solely those of the author. They do not necessarily reflect Firstpost's views.
Mint
29 minutes ago
- Mint
Tally of Microsoft Victims Surges to 400 as Hackers Capitalize on SharePoint Flaw
(Bloomberg) -- The number of companies and organizations compromised by a security vulnerability in Microsoft Corp.'s SharePoint servers is increasing rapidly, with the tally of victims soaring more than six-fold in a few days, according to one research firm. Hackers have breached about 400 government agencies, corporations and other groups, according to estimates from Eye Security, the Dutch cybersecurity company that identified an early wave of the attacks last week. That's up from roughly 60 based on its previous estimate provided to Bloomberg News on Tuesday. The security firm said that most of the victims are in the US, followed by Mauritius, Jordan, South Africa and the Netherlands. The National Nuclear Security Administration, the US agency responsible for maintaining and designing the nation's cache of nuclear weapons, was among those breached, Bloomberg reported earlier. The hacks are among the latest major breaches that Microsoft has blamed, at least in part, on China and come amid heightened tensions between Washington and Beijing over global security and trade. The US has repeatedly criticized China for campaigns that have allegedly stolen government and corporate secrets over a period spanning decades. 'We estimate that the real number might be much higher as there can be many more hidden ways to compromise servers that do not leave traces,' Eye Security's co-owner Vaisha Bernard said in an email to Bloomberg News. 'This is still developing, and other opportunistic adversaries continue to exploit vulnerable servers.' The organizations compromised in the SharePoint breaches include many working in government, education, and technology services, Bernard said. There were smaller numbers of victims in countries across Europe, Asia, the Middle East and South America. The security flaws allow hackers to access SharePoint servers and steal keys that can let them impersonate users or services, potentially enabling deep access into compromised networks to steal confidential data. Microsoft has issued patches to fix the vulnerabilities, but researchers cautioned that hackers may have already got a foothold into many servers. Microsoft on Tuesday accused Chinese state-sponsored hackers known as Linen Typhoon and Violet Typhoon of being behind the attacks. Another hacking group based in China, which Microsoft calls Storm-2603, also exploited them, according to the company. The Redmond, Washington company has repeatedly blamed China for major cyberattacks. In 2021, an alleged Chinese operation compromised tens of thousands of Microsoft Exchange servers. In 2023, another alleged Chinese attack on Microsoft Exchange compromised senior US officials' email accounts. A US government review later accused Microsoft of a 'cascade of security failures' over the 2023 incident. Eugenio Benincasa, a researcher at ETH Zurich's Center for Security Studies who specializes in analyzing Chinese cyberattacks, said members of the groups identified by Microsoft had previously been indicted in the US for their alleged involvement in hacking campaigns targeting US organizations. They are well known for their 'extensive espionage,' he said. It's likely that the SharePoint breaches are being carried out by proxy groups that work with the government rather than Chinese government agencies directly carrying out the hacking, according to Benincasa. Private hacking companies in the country sometimes participate in 'hacker for hire' operations, he added. 'Now that at least three groups have reportedly exploited the same vulnerability, it's plausible more could follow,' he said. China is against all forms of cyberattacks and cybercrime, the Chinese Embassy in Washington said in a statement on Tuesday. 'We also firmly oppose smearing others without solid evidence,' the embassy said. 'We hope that relevant parties will adopt a professional and responsible attitude when characterizing cyber incidents, basing their conclusions on sufficient evidence rather than unfounded speculation and accusations.' According to Microsoft, the hacking group Linen Typhoon was first identified in 2012, and is focused on stealing intellectual property, primarily targeting organizations related to government, defense, strategic planning, and human rights. Violet Typhoon, first observed in 2015, was 'dedicated to espionage' and primarily targeted former government and military personnel, non-governmental organizations, as well as media and education sectors in the US, Europe, and East Asia. The hackers have also used the SharePoint flaws to break into systems belonging to the US Education Department, Florida's Department of Revenue and the Rhode Island General Assembly, Bloomberg previously reported. More stories like this are available on
Mint
36 minutes ago
- Mint
Trump to outline AI priorities amid tech battle with China
Trump to deliver what aides call a major speech on AI priorities White House AI and crypto czar David Sacks will join his co-hosts on the 'All-In' podcast to highlight AI efforts Trump expected to take more actions in upcoming weeks to help tech giants power AI industry By Jarrett Renshaw and Alexandra Alper July 23 - The Trump administration is set to release a new artificial intelligence blueprint on Wednesday that aims to relax American rules governing the industry at the center of a technological arms race between economic rivals the U.S. and China. President Donald Trump will mark the plan's release with a speech outlining the importance of winning an AI race that is increasingly seen as a defining feature of 21st-century geopolitics, with both China and the U.S. investing heavily in the industry to secure economic and military superiority. According to a summary seen by Reuters, the plan calls for the export of U.S. AI technology abroad and a crackdown on state laws deemed too restrictive to let it flourish, a marked departure from former President Joe Biden's "high fence" approach that limited global access to coveted AI chips. Top administration officials such as Secretary of State Marco Rubio and White House National Economic Adviser Kevin Hassett are also expected to join the event titled "Winning the AI Race," organized by White House AI and crypto czar David Sacks and his co-hosts on the "All-In" podcast, according to an event schedule reviewed by Reuters. Trump may incorporate some of the plan's recommendations into executive orders that will be signed ahead of his speech, according to two sources familiar with the plans. Trump directed his administration in January to develop the plan. The event will be hosted by the Hill and Valley Forum, an informal supper club whose deep-pocketed members helped propel Trump's campaign and sketched out a road map for his AI policy long before he was elected. Trump is expected to take additional actions in the upcoming weeks that will help Big Tech secure the vast amounts of electricity it needs to power the energy-guzzling data centers needed for the rapid expansion of AI, Reuters previously reported. U.S. power demand is hitting record highs this year after nearly two decades of stagnation as AI and cloud computing data centers balloon in number and size across the country. The new AI plan will seek to bar federal AI funding from going to states with tough AI rules and ask the Federal Communications Commission to assess whether state laws conflict with its mandate, according to the summary. The Trump administration will also promote open-source and open-weight AI development and "export American AI technologies through full-stack deployment packages" and data center initiatives led by the Commerce Department, according to the summary. Trump is laser-focused on removing barriers to AI expansion, in stark contrast to Biden, who feared U.S. adversaries like China could harness AI chips produced by companies like Nvidia and AMD to supercharge its military and harm allies. Biden, who left office in January, imposed a raft of restrictions on U.S. exports of AI chips to China and other countries that it feared could divert the semiconductors to America's top global rival. Trump rescinded Biden's executive order aimed at promoting competition, protecting consumers and ensuring AI was not used for misinformation. He also rescinded Biden's so-called AI diffusion rule, which capped the amount of American AI computing capacity that some countries were allowed to obtain via U.S. AI chip imports. In May, Trump announced deals with the United Arab Emirates that gave the Gulf country expanded access to advanced artificial intelligence chips from the U.S. after previously facing restrictions over Washington's concerns that China could access the technology. This article was generated from an automated news agency feed without modifications to text.
