logo
Vietnam will ban fossil-fuel motorcycles from central Hanoi over pollution concerns

Vietnam will ban fossil-fuel motorcycles from central Hanoi over pollution concerns

Yahoo7 days ago
HANOI, Vietnam (AP) — Vietnam will ban fossil-fuel motorcycles and mopeds in the heart of the capital, Hanoi, starting July 2026, as part of a nationwide effort to curb air pollution, state media reported.
The directive issued by Vietnamese Prime Minister Pham Minh Chinh applies to the area inside and along the main ring road that encircles the center of Hanoi. The local government has been tasked with phasing out the two-wheelers by the deadline.
Like the rest of Vietnam, motorcycles are the main mode of transport for most of Hanoi's 8 million residents. The city has nearly 7 million motorcycles and just over a million cars. But as incomes rise and more people switch to private vehicles, air pollution from traffic has become a growing concern. Hanoi is often enveloped in thick smog, ranking among the most polluted cities worldwide.
Vietnam also wants to switch from fossil-fuel to electric vehicles to cut pollution and tackle climate change. Local EV maker VinFast is leading the shift by holding nearly a fifth of the market share, according to the European Chamber of Commerce. But it still has only a small share of the two-wheeler market.
But many are concerned about the unclear plan for phasing out the vehicles.
Nguyen Van Hung, 62, has spent three decades driving a motorcycle taxi in Hanoi, now working with Grab, a ride-hailing app widely used across Southeast Asia. He worries the ban will hit the working class hardest. 'It will affect people who rely on motorbikes to earn a living,' he said, pointing to delivery drivers, commuters and ride-hailing services. 'How can people just discard their vehicles?'
Others said that the timeline was unrealistic. Hoang Duy Dung, 32, an office clerk who works in the city center, said he supports cleaner air but believes it is too soon. 'We need better public transport and more support before such a big change.'
Central Hanoi is home to much of the city's business activity, including offices, government buildings and commercial hubs.
A second phase, set to begin in January 2028, will expand the ban to a wider area and include all fossil-fuel two-wheelers, while also restricting some gasoline-powered cars.
Other measures include upgrading waste-treatment plants, using digital tools to monitor pollution and introducing stricter penalties for violators. Whistleblowers could be rewarded for reporting environmental breaches.
___
Associated Press climate and environmental coverage receive support from several private foundations. See more about AP's climate initiative here. The AP is solely responsible for all content.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Lucid Soars on Multimillion Uber Deal -- Can It Go Higher Still?
Lucid Soars on Multimillion Uber Deal -- Can It Go Higher Still?

Yahoo

time2 hours ago

  • Yahoo

Lucid Soars on Multimillion Uber Deal -- Can It Go Higher Still?

Key Points Lucid claims to have the world's most advanced electric vehicles. Uber will invest $300 million into Lucid. Lucid will use tech provided by Nuro to outfit its vehicles for driverless Uber operations. 10 stocks we like better than Lucid Group › Famous investor Benjamin Graham said: "In the short run, the market is a voting machine, but in the long run, it is a weighing machine." That quote sure holds true today, after Uber Technologies (NYSE: UBER) shook up the market with its announcement that it will deploy a fleet of robotaxis as demand for autonomous driving vehicles begins to fire on all cylinders. If the market is indeed a short-term voting machine, the market has cast its vote, and Lucid Motors (NASDAQ: LCID) looks like the real winner of this partnership. Lucid's stock popped well over 40% on the news, while Uber traded marginally higher. Let's dig into what this massive development means for the young electric vehicle (EV) maker. Best of the best? When it comes to selecting partners for such a massive deal, Uber could have done a lot worse than selecting the EV company that's brash enough to claim "maker of the world's most advanced electric vehicles." More specifically, on Thursday, Uber announced a partnership that would unleash more than 20,000 robotaxis over the next six years. As previously mentioned, part of the partnership includes Lucid, but another partner is also in the mix: Nuro, an autonomous vehicle start-up. It breaks down like this: Uber will invest $300 million in Lucid, while Nuro develops the self-driving technology that Lucid will deploy in its vehicles to supply Uber with robotaxis. "This investment from Uber further validates Lucid's fully redundant zonal architecture and highly capable platform as ideal for autonomous vehicles, and our industry-leading range and spacious well-appointed interiors, as ideal for ridesharing," said Marc Winterhoff, Interim CEO at Lucid, in a press release. "This is the start of our path to extend our innovation and technology leadership into this multi-trillion-dollar market." This development is a pretty big deal for Lucid. While manufacturing of the 20,000 vehicles in question will be spread over six years and unlikely to start until late next year, it still represents a strong order for the company that just set a quarterly record for deliveries at only 3,309 vehicles, during the second quarter. Moreover, consider that Lucid delivered only 6,418 vehicles during the first half of 2025, and you can understand that 20,000 vehicles for Uber is nothing to sneeze at. In fact, it's about as many vehicles as Lucid hopes to deliver for the full year. Strategic change This partnership marks a new era for Uber, which previously exited the robotaxi space in 2020, and signals that the company's strategy going forward will revolve around partnerships with multiple technology developers. It's also not the only deal Uber is working on. In April, the company announced that Volkswagen will supply its vans for commercial service in Los Angeles next year. While Uber is the driving force behind this multi-million-dollar partnership, it arguably has the roughest road ahead. Driverless vehicle technology has been more challenging and more costly than anticipated, and it's dealing with tight regulations and federal investigations. Those hurdles caused many start-ups to close their doors, including General Motors' Cruise and Ford Motor Company's Argo AI. Uber also has some catching up to do in terms of driverless capabilities. Despite years of delays and missed targets, Tesla did start a pilot program with about a dozen Model Y EVs in Austin, Texas, in June, with plans to expand the service to other U.S. cities later this year. Waymo has also been methodically and quietly growing its operations for years in several U.S. cities with a fleet of roughly 1,500 vehicles. It just crossed 100 million miles of autonomous driving in July. Ultimately, this opens the door to new opportunities for all three companies. But if the market is indeed a voting machine in the short term, there is reason for Lucid investors to be excited. This gets the company's product in front of new customers, in a new addressable market, with partnerships that were once untapped -- it's a big deal, even aside from the $300 million investment. Lucid has a lot of momentum behind it right now, and if the Gravity SUV continues to accelerate its production and deliveries flawlessly, the young EV maker should enter 2026 poised for a tremendous year. While Lucid is likely to give back some of Thursday's large gains, there's little stopping Lucid's stock from climbing higher as deliveries ramp for the Gravity -- especially if the automaker can curb costs and cash burn in the year ahead. Should you buy stock in Lucid Group right now? Before you buy stock in Lucid Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Lucid Group wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $652,133!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,056,790!* Now, it's worth noting Stock Advisor's total average return is 1,048% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 15, 2025 Daniel Miller has positions in Ford Motor Company and General Motors. The Motley Fool has positions in and recommends Tesla and Uber Technologies. The Motley Fool recommends General Motors and Volkswagen Ag. The Motley Fool has a disclosure policy. Lucid Soars on Multimillion Uber Deal -- Can It Go Higher Still? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

This Move From Tesla Screams Desperation
This Move From Tesla Screams Desperation

Yahoo

time2 hours ago

  • Yahoo

This Move From Tesla Screams Desperation

Key Points Tesla is beginning to import vehicles to sell in India. Tariffs and duties can add 100% to the cost of import vehicles in India. Investors need to tune in to Tesla's shareholder meeting in November. These 10 stocks could mint the next wave of millionaires › When it rains, it pours, and that's a saying that Tesla (NASDAQ: TSLA) investors know all too well right now. If consumer backlash against CEO Elon Musk's political stint wasn't enough, a number of executives have left the company recently, sales are in decline globally, its vehicle lineup is aging, its Cybertruck was a commercial flop, and it's facing a growing number of lawsuits surrounding its Autopilot and Full Self-Driving (FSD) systems, among other developments -- it's certainly raining. The bad news? Tesla's latest move could signal just how desperate the automaker is right now. To India!? Entering the world's third-largest automotive market can't be the worst strategic move, right? While that would be the common thought process, the scenario is a bit different between Tesla and India. That's because while India is the third-largest automotive market, Tesla's Model Y, which the company recently launched in India, will target an electric vehicle segment that represents a modest 4% of overall sales. To make matters worse, Musk himself has long criticized India for its steep tariffs on import vehicles. In fact, importing vehicles into India can often result in tariffs and related duties that can exceed 100%, drastically driving up the price for consumers. Tesla's strategy is simple: Take excess inventory from countries where demand and sales have plunged, and move it to a new market. The problem is that, due to tariffs and duties, Tesla's Model Y starts at about $70,000 in India -- the highest price among major markets. That compares unfavorably to roughly $45,000 in the U.S., $36,700 in China, and $53,700 in Germany. On one hand, it seems like a worthwhile attempt to stoke some sales globally, but on the other hand, it does seem like a move of desperation as the company deals with global sales adversity for the first time. That said, this isn't the first time Tesla has flirted with India. The company once considered opening a factory there and has commented that it still hopes to do research and development and manufacturing in India one day. What's next for investors? Some of the best investing advice can be summed up with "invest in what you know." That's the dilemma for some long-term and potential Tesla investors. The automaker is almost in an identity crisis, figuring out whether it's a vehicle manufacturer, a robotaxi company, a robotics company, an artificial intelligence business, or some combination of the above. Not only do Tesla investors have to worry about Musk's time being divided between SpaceX, X (formerly Twitter), Neuralink, and xAI, among others, but there's also concern about a deepening tie to politics. "Tesla is heading into one of the most important stages of its growth cycle with the autonomous and robotics future now on the doorstep and cannot have Musk spending more and more time creating a political party which will require countless time, energy, and political capital," wrote Dan Ives, a Wedbush Securities analyst known for being a Tesla bull, according to CNN Business. That's why it'll be as important as ever for investors to tune in to Tesla's annual shareholder meeting, scheduled for November, to see what insights and vision management has going forward. For long-term investors, backlash will likely eventually fade, although it'll take time to mend the trust with consumers. However, for new potential investors, it may be wise to watch this from the sidelines until Tesla figures out its identity. Should you buy stock in Tesla right now? The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $652,133!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,056,790!* Now, it's worth noting Stock Advisor's total average return is 1,048% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 15, 2025 Daniel Miller has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy. This Move From Tesla Screams Desperation was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Singapore dollar faces pressure from US tariffs, policy shift
Singapore dollar faces pressure from US tariffs, policy shift

Yahoo

time2 hours ago

  • Yahoo

Singapore dollar faces pressure from US tariffs, policy shift

By David Finnerty (Bloomberg) — Singapore's dollar is under renewed pressure as US trade challenges are primed to worsen and as speculation of exchange-rate policy easing rises. The Asian currency, which is already weakening as the US dollar recovers, faces fresh tariff threats after President Donald Trump recently warned he may impose levies on pharmaceuticals and semiconductors, two of Singapore's key exports. Economists at firms such as Barclays Plc and Asia Decoded Pte. expect the Asian nation's central bank to move to a more accommodative policy setting this month to support the economy. 'The tariff uncertainty, with higher tariffs on pharmaceuticals likely 1 Aug, could add to growth headwinds for Singapore in the second half,' said Moh Siong Sim, a currency strategist at Bank of Singapore. The local dollar may weaken toward S$1.30 to the greenback in the near term, especially if rising levies stoke US inflation and delay Federal Reserve interest-rate cuts, he said. The currency was at S$1.2846 at 8:10am Monday (21 July). Those concerns are echoed by Priyanka Kishore, principal economist at Asia Decoded. 'Singapore is not only at a disadvantage from the prospect of sectoral tariffs on pharmaceuticals and semiconductors, but may also see an increase in the base rate of 10 per cent on 1 Aug,' she said. Some strategists believe the Monetary Authority of Singapore will ease policy when it meets later this month, given inflation appears subdued. Economists predict data due on 23 July will show core inflation rose by just 0.7 per cent in June. The MAS will flatten the slope of its Singapore dollar nominal effective exchange rate, or S$NEER, policy band by 50 basis points to zero in July, rather than waiting, Barclays Bank Plc economists wrote in a note last week. Unlike many of its global peers, Singapore's central bank manages inflation by adjusting the S$NEER policy band rather than altering interest rates. With the S$NEER trading near the top end of the band, any flattening of the slope will cap the currency's relative strength to its major trading partners. Easing Path 'With the MAS likely to stay on an easing path and flatten the slope of the S$NEER this month, our bias is for further Singapore dollar weakness,' Asia Decoded's Kishore said. While Singapore's central bank looks likely to ease policy, bets on Fed rate hikes have been pushed back as policymakers watch for tariff-related inflation, bolstering the US currency. The Singapore dollar's use as a funding vehicle for carry trades may also weigh on its outlook. Bloomberg Intelligence said this month that three of the four emerging-market exchange factor models it uses in its analysis have gone long the Indonesian rupiah versus short the Singapore dollar. This week's main economic events: Monday, July 21: China 1- and 5-year loan prime rate, South Korea 20-day exports/imports Tuesday, July 22: RBA minutes, Malaysia CPI, New Zealand trade balance, Taiwan export orders Wednesday, July 23: Singapore CPI, BOJ's Uchida speaks Thursday, July 24: South Korea 2Q GDP, RBA Gov. Bullock speaks, RBNZ's Conway speaks, Japan PMI's Friday, July 25: Tokyo CPI, Singapore industrial production More stories like this are available on ©2025 Bloomberg L.P.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store