Latest news with #China-made
Time of India
7 hours ago
- Business
- Time of India
India moves to shield power grid from solar equipment malware
India issued guidelines to protect solar power equipment from potential cyberattacks, responding to industry concerns that imported China-made parts may be putting the grid at risk. Suppliers of inverters - devices that turn direct current into electricity for homes and the grid - will need to connect the machines to a national software platform, hosted on servers in India and managed by a government agency, according to the renewable energy ministry. All communication devices connected to the inverters must use special SIM cards that let machines securely share data without human input, it said in a note on its website. As power grids become more automated and digitally connected, they face growing cybersecurity threats, prompting governments worldwide to tighten safeguards. Reuters reported in May that the US is reassessing the risk posed by Chinese-made inverters after unexplained communication equipment was found inside some of them. "Inverter communication modules that transmit data to servers outside India not only pose risks of unauthorised control but also threaten national energy sovereignty by exposing sensitive consumption and generation data," the Indian ministry said. The directions currently apply to rooftop solar inverters - considered the most vulnerable part of the green power supply network due to limited technological safeguards. Data from these devices also reach to suppliers, many based in China, according to India Smart Grid Forum, which advises the government on building new-age power infrastructure. India currently has 1.8 million rooftop solar units connected to the grid, ISGF said in a May report. More than 80% of the inverters installed at these units are made by Chinese companies, it said, highlighting the cybersecurity risk. The nation plans to cover 10 million houses, with a cumulative capacity of 30 gigawatts by March 2027, according to the ministry.
Time of India
12 hours ago
- Business
- Time of India
US toy makers nix batteries, other materials to save costs during tariff war
NEW YORK: This holiday season, U.S. parents may have to make an extra pit stop - not for toys, but for the batteries that power them, as manufacturers pare down on frills and packaging to cut costs amid rising tariffs. Toy makers that serve retail giants like Walmart, Target and Amazon are reducing the number of accessories in toy kitchen sets, removing batteries from electronic playsets, simplifying doll makeup and reducing packaging, as a 30% blanket tariff currently imposed on Chinese imports puts a damper on their bottom lines. Explore courses from Top Institutes in Please select course: Select a Course Category Digital Marketing Finance MCA Data Analytics Degree Management others Project Management PGDM Product Management Technology Operations Management MBA CXO Healthcare healthcare Cybersecurity Public Policy Data Science Data Science Artificial Intelligence Leadership Others Design Thinking Skills you'll gain: Digital Marketing Strategy Search Engine Optimization (SEO) & Content Marketing Social Media Marketing & Advertising Data Analytics & Measurement Duration: 24 Weeks Indian School of Business Professional Certificate Programme in Digital Marketing Starts on Jun 26, 2024 Get Details Skills you'll gain: Digital Marketing Strategies Customer Journey Mapping Paid Advertising Campaign Management Emerging Technologies in Digital Marketing Duration: 12 Weeks Indian School of Business Digital Marketing and Analytics Starts on May 14, 2024 Get Details The duties imposed on China by U.S. President Donald Trump are particularly painful for companies like Hasbro and Mattel , as 80% of toys sold in the U.S. come from China, according to trade group The Toy Association. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like An engineer reveals: One simple trick to get internet without a subscription Techno Mag Learn More Undo Educational toy maker Popular Playthings - whose China-made animal sets, trucks, and magnetic food sets can be bought on Amazon - is delaying and paring down a magnetic cake set it had planned to launch in June, CEO Jason Cheung said in an interview. The company is reducing the power of the magnet, using cheaper packaging, and removing one of two serving plates that were to come with the set -- all while upping the price from $29.99 to $34.99. "Originally it would come with two plates so two kids can have cake at the same time,' Cheung said. Now, "one (child) will serve, while the other can eat." Live Events "Still multiplayer, but less cost," Cheung said, while adding "the original item would have been better." Toys are a top category in the U.S. holiday shopping season, the biggest spending season of the year. Adobe Analytics projected an $8.1 billion online spend on toys last holiday season, marking a 5.8% increase from the previous year. Toy maker Basic Fun!, which sources most of its products from China, makes 40% of its annual sales in North America through Amazon, meaning the company can't risk removing merchandise from the ubiquitous e-commerce platform this holiday season, CEO Jay Foreman told Reuters. The company, which also sells to Walmart and Target, is offering retailers the option to remove batteries from the packages of its electronic toys, and plans to reduce or remove its toys' packaging in 2026, said Foreman. "The consumer will either pay more or get less value," Foreman said. Some companies, like Bratz and L.O.L. Surprise! dolls-maker MGA Entertainment, are moving supply chains out of China, - a costly endeavour - while others are reducing the number of items available on shelves this winter. Isaac Larian, the CEO of MGA Entertainment, one of the biggest U.S. privately-held toy companies, said it takes nine to 12 months to make cost-cutting changes to toys. MGA is planning to modify its products for later next year. "But we cannot take the magic out of the box," Larian said. "Too much cost-cutting, destroys the play value for the toy, and you turn off the kids." Historically, sector giant Mattel has invested in more "playable packaging" -- making the boxes part of the game itself -- to reduce costs. Hasbro, which sources roughly 50% of its U.S. toy and game volume from China, said on a Wednesday earnings call it "retooled and reimagined" its board games Candy Land and Operation, as part of a larger initiative to revamp its materials sourcing, manufacturing processes, designs and packaging to help with cost reductions amid tariffs. ECR4Kids - whose roughly 1,000 school and daycare supplies range from toys and games to bookshelves and play mats - also sources primarily from China, and makes "well over 50%" of its revenue from selling wholesale to Amazon, according to managing partner Lee Siegel. "We're very tethered to Amazon," Siegel told Reuters, explaining that he can't make substantive changes to the products he sells on the platform, including a $175 foam climbing set for toddlers. For some products, though, the company is reducing variations in color and model, and prioritising more efficient packaging that uses every inch of space. These kinds of efficiency efforts were on Siegel's radar even before tariffs, he said. "But now, you really have no choice."
Yahoo
12 hours ago
- Automotive
- Yahoo
Exclusive: Chinese electric carmaker Zeekr eyes pan-European growth despite tariffs, acting CEO says
China's electric vehicle (EV) company Zeekr is committed to a broad expansion throughout the EU despite tariffs slowing its pace, the company's top European executive has told Euronews. Lothar Schupert, the acting CEO of Zeekr Europe — which is the EV arm of Geely Holdings, one of the Chinese companies targeted by EU tariffs last year — told Euronews' Europe Today the brand was "committed" to Europe. Last October the EU slapped steep duties on China-made electric vehicles (EVs) to offset the effects of Chinese state subsidies, including tax reductions and preferential lending, which Brussels says unfairly undercut European competitors. Decrying the measure as a "naked act of protectionism", Beijing responded with probes into EU-made brandy, pork and dairy, which Brussels then denounced as unfair and unjustified. As expected, Thursday's one-day EU-China summit in Beijing failed to deliver progress on these open fronts. Talks on a potential minimum pricing arrangement in order to remove the tariffs have been underway since April. Asked whether such an arrangement would be acceptable to a company like Zeekr, Schupert simply said they were an advocate of "free trade." He explained that Zeekr had launched its car brand in Europe two years ago, beginning in the Nordic markets, before continuing in Belgium, Switzerland and several others. 'And we're in the middle of the expansion plans at the moment,' he said flagging the company's plans to grow further starting with Germany, the UK, 'and also going forward with France, Italy and Spain." 'At the moment we are preparing. So in the next twelve to twenty-four months, our plans are to be live,' he said. Schubert said 'of course we are opposing against the tariffs', adding they negatively impact consumers. 'The tariffs are hindering us moving in that speed forward since last year,' he explained. But he added that that company has 'done its homework', and is "very much convinced that our sustainable go-to-market approach is now prepared'. "So our commitment is to expand further. Our commitment is to deliver high-level premium products to our consumers in Europe. And independently from the tariffs, our expansion plans goes further." Pressed about EU concerns over the subsidies Beijing pumps into its domestic companies, he said the company had to "gain the trust of the consumers." 'And that is where our main work is on now, launching the markets, creating a brand experience and having a clear relationship to the consumers in Europe, convincing with the products and also attractive pricing and price value proposition where we can be successful.'
Time of India
a day ago
- Business
- Time of India
India moves to shield power grid from solar equipment malware
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India issued guidelines to protect solar power equipment from potential cyberattacks, responding to industry concerns that imported China-made parts may be putting the grid at of inverters - devices that turn direct current into electricity for homes and the grid - will need to connect the machines to a national software platform, hosted on servers in India and managed by a government agency, according to the renewable energy ministry. All communication devices connected to the inverters must use special SIM cards that let machines securely share data without human input, it said in a note on its power grids become more automated and digitally connected, they face growing cybersecurity threats, prompting governments worldwide to tighten safeguards. Reuters reported in May that the US is reassessing the risk posed by Chinese-made inverters after unexplained communication equipment was found inside some of them."Inverter communication modules that transmit data to servers outside India not only pose risks of unauthorised control but also threaten national energy sovereignty by exposing sensitive consumption and generation data," the Indian ministry directions currently apply to rooftop solar inverters - considered the most vulnerable part of the green power supply network due to limited technological safeguards. Data from these devices also reach to suppliers, many based in China, according to India Smart Grid Forum, which advises the government on building new-age power currently has 1.8 million rooftop solar units connected to the grid, ISGF said in a May report. More than 80% of the inverters installed at these units are made by Chinese companies, it said, highlighting the cybersecurity nation plans to cover 10 million houses, with a cumulative capacity of 30 gigawatts by March 2027, according to the ministry.
New Indian Express
a day ago
- Automotive
- New Indian Express
Tesla's entry and why manufacturing scene is not quite electric for India
US automaker Tesla's entry into India last week is an unpleasant reminder about how India keeps missing the manufacturing bus, again and again. This time, we've lost the race to produce and consume Electric Vehicles (EV), yet again, to China and the US. What makes the loss even more agonising is that, like China, India too started its EV journey pretty much at the same time around 2015. A decade later, or what now seems like between sundown and sunrise, China emerged as the leading EV market. Its conveyor belts simply seem unstoppable, while India stands still. Consider some more enviable statistics. China's annual EV sales rose from just 2,344 units in 2015 to a staggering 1.7 million in 2024. Over 50% of new cars sold were electric models in 2024 and it currently has over 41.3 million EVs on road. As many as 300 companies are manufacturing EVs there and four of the world's top 10 EVs sold worldwide are from China. In contrast, India has just a handful of producers. Total registered EVs stood at about 2 million as on 2024, accounting for 7.5% of India's total vehicle sales. But electric two-wheelers lead the pack, comprising 60% of total EV sales. The good news is India is expected to have an estimated 50 million EVs on the road by 2030, but then, China would have scaled another unbeatable milestone by then. In short, India is still warming up to the idea of large-scale EV adoption, while China is out to get another bite of meat, this time from global markets as it moves to the next stage of the consumption value chain. One of the reasons for such aggressive adoption of China-made EVs is the significant state-sponsored subsidies for consumers, and the availability of adequate charging infrastructure. India lacks both the charging infrastructure and suitable incentives. What's concerning now is how Beijing is flooding the global markets with its low-priced electric cars. China has subsidised EVs since 2009, but those incentives were phased out officially in 2022. Market watchers, however, believe that Beijing is artificially keeping prices low, as local governments are continuing to offer cash subsidies. Take for instance, the pricing of China's MG Motors and BYD, which are on par with Indian models, notwithstanding the high import tariffs of about 70%-100%. This has been the case with other markets too, which is why, the European Union recently opened an anti-subsidy investigation against China to know if it's gaming the pricing structure with unofficial state-sponsored incentives. Now, in this backdrop, the one thing that's upsetting about Tesla's much-awaited India foray is its seemingly half-hearted interest to tap India, touted to emerge as the world's third largest auto market. Moreover, the US automaker is grappling with excess capacity and declining sales, while China's BYD is at a threatening distance of dethroning Tesla as the world's largest EV maker. Given the circumstances, a large growing market like India offer a promising opportunity, but Tesla isn't as excited. Its India foray was low key and marked by the absence of its celebrated founder Elon Musk. This is quite different from other large MNCs like Apple, Microsoft, Amazon and Google, which saw the respective billionaire bosses descending down on India to script history. Besides, Tesla's limited number of model launches and their pricing at over Rs 60 lakh each also makes its India journey uninspiring. Currently, Tesla imports fully assembled vehicles into India, which are subject to import duties as high as 70% to 100% if the car's cost, insurance, freight value exceeds $35,000. That said, India does offer attractive tariff rates of just 15% for willing companies under its EV policy launched last year. But to avail these lower tariffs, companies have to invest at least half-a-billion dollars in local production. The policy also sets a three-year timeline to set up manufacturing facilities and starting commercial production, with a goal of achieving 50% domestic value addition within five years. Besides, to ensure the progress of domestic manufacturing ecosystem, the government also opened another lifeline via its Production-Linked Incentive scheme, encouraging foreign auto companies to localise production. Then there's the other flagship scheme Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME), which too offers the much needed impetus to EV sales with state governments chipping in. It's not that India lacks the scale and strategic depth to emerge as a global leader in the automotive value chain. In 2022, India overtook Germany to emerge as the world's fourth largest automotive market and is set to reach a record 50 lakh units in the next few years. The automobile market contributes nearly 7% to the GDP, and the EV market in India is expected to touch $48.6 billion, creating 50 million direct and indirect jobs. But one reason that's deterring potential buyers and therefore prospective manufacturers is that fast-charging solutions remain scarce. Currently, India has only one public charging station per 135 EVs, significantly lower than the global average of one station for every 6-20 EVs, according to CareEdge research report. As per estimates, India now has over 12,000 public EV-charging stations and needs at least 1.3 million charging stations by 2030. Recognising the need, the government is also prioritising charging infrastructure. Among the notable initiatives are the setting up of 72,000 public charging stations with an investment of Rs 2,000 crore across the country by 2026. Above all, India imports over 90% of the EV batteries, which makes the end product expensive and also remains vulnerable to supply shocks. The question is, if and how the government will overcome these multiple challenges to restart the EV journey.
