
BREAKING NEWS America's biggest carmaker recalls 274,000 SUVs due to faulty brakes
Ford issued the alert for 223,315 Expeditions and 50,474 Navigators between model years 2022 and 2024.
This is a developing story... More updates to come.
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Reuters
24 minutes ago
- Reuters
Hertz, Amazon Autos partner to sell used vehicles online
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Reuters
2 hours ago
- Reuters
US tariffs on Chinese graphite spark opportunity for India's Epsilon
NEW DELHI, Aug 20 (Reuters) - India's Epsilon Advanced Materials is moving swiftly to close deals to supply critical components to Japanese and South Korean battery makers in the U.S., a top executive said, after Washington imposed anti-dumping duties on Chinese imports. The U.S. in July imposed a punitive 93.5% tariff on import of graphite anode materials from China, creating an opportunity for India's Epsilon to break Beijing's monopoly on supplies of the key battery component. Indeed, U.S.-based battery makers are eager to secure alternative suppliers as the higher levies disrupt supply chains and stoke uncertainty, including over future price rises. Vikram Handa, managing director of Epsilon, which makes graphite anode materials for EV batteries, expressed confidence over some new supply deals. "Last month, they were saying let's wait and see how things go. Now we think in the next 60 to 80 days, we will close our contracts," said Handa. Epsilon, which announced plans for a $650 million factory in North Caroline in October 2023, has been working on getting permits and environmental clearances, while waiting for firm orders before putting a shovel in the ground. "The numbers now start making sense for customers to buy from the U.S.," said Handa, adding that the plant, which will have capacity of 30,000 tonnes of anode materials, is expected to be up and running by mid-2027. An EV battery is made up of four components - anode, cathode, electrolyser and separator. The anode contributes to fast-charging and vehicle range. The U.S. needs 500,000 tonnes of anode materials a year for its EV and energy storage battery needs, which were met largely by China, which refines over 90% of the world's graphite into the material used in almost all EV battery anodes. Mumbai-based Epsilon also has plans to invest over $1.1 billion in a 100,000-tonne anode materials facility in India's Karnataka state, but has yet to see serious interest in India. Handa said low Chinese prices were a draw for Indian companies, but he was trying to persuade them to buy at least 20% from Epsilon, so that "if China closes the tap," they had an alternative supplier. "If it is zero (demand for Epsilon's anodes) right now, how will I put up a plant?" he asked. "I hope this rare earth story doesn't play out the same way for battery materials," given Indian companies dependence on them, he said.


BreakingNews.ie
4 hours ago
- BreakingNews.ie
Alaska man gifted motorcycle by Russian government after viral interview
An Alaska man might have walked away as the biggest winner of last week's high stakes summit between US president Donald Trump and Russian leader Vladimir Putin in Anchorage. He rode off with a new motorcycle, courtesy of the Russian government. Advertisement Mr Putin's delegation gifted Mark Warren, a retired fire inspector for the Municipality of Anchorage, a Ural Gear Up motorcycle with a sidecar, one week after a television crew's interview with Mr Warren went viral in Russia. The motorcycle company, founded in 1941 in western Siberia, now assembles its bikes in Petropavlovsk, Kazakhstan, and distributes them through a team based in Woodinville, Washington. Mark Warren (Bill Roth/Anchorage Daily News via AP) Mr Warren already owned one Ural motorcycle, purchased from a neighbour. He was out running errands on it a week before the summit when a Russian television crew saw him and asked for an interview. Mr Warren told the crew about his difficulty obtaining parts for the bike because of supply-and-demand issues. Advertisement 'It went viral, it went crazy, and I have no idea why, because I'm really just a super-duper normal guy,' Mr Warren said on Tuesday. 'They just interviewed some old guy on a Ural, and for some reason they think it's cool.' On August 13, two days before the Trump-Putin summit to discuss the war in Ukraine, Mr Warren received a call from the Russian journalist, who told him: 'They've decided to give you a bike.' Mr Warren said a document he received indicated the gift was arranged through the Russian Embassy in the US. Advertisement Mr Warren said he initially thought it might be a scam. But after Mr Putin and Mr Trump departed Joint Base Elmendorf-Richardson following their three-hour summit last Friday, he got another call informing him the bike was at the base. He was directed to go to an Anchorage hotel the next day for the handover. He went with his wife, and there in the car park – along with six men he assumed to be Russians, was the olive-green motorcycle, valued at 22,000 dollars (£16,000). Alaska resident Mark Warren poses with a new Ural motorcycle (Bill Roth/Anchorage Daily News via AP) 'I dropped my jaw,' he said. 'I went, 'You've got to be joking me.'' All the Russians asked in return was to take his picture and interview him, he said: 'If they want something from me, they're gonna be sorely disappointed.' Advertisement Two reporters and someone from the consulate jumped on the bike with him, and he drove slowly around the car park while a cameraman ran alongside and filmed it. The only reservation he had about taking the Ural is that he might somehow be implicated in some nefarious Russian scheme. Mr Warren said he does not want a 'bunch of haters coming after me that I got a Russian motorcycle. … I don't want this for my family'. When he was signing the paperwork taking ownership of the motorcycle from the Russian embassy, he noticed it was manufactured on August 12. Advertisement 'The obvious thing here is that it rolled off the showroom floor and slid into a jet within probably 24 hours,' he said.