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Tariffs driving supply chain localisation and automation
Tariffs driving supply chain localisation and automation

Yahoo

time10 hours ago

  • Business
  • Yahoo

Tariffs driving supply chain localisation and automation

The tariffs being introduced by the Trump administration in the US and the subsequent counter tariffs elsewhere are leading companies to localise and automate their supply chains in mitigation, a new report outlines. GlobalData's Impact of Tariffs on Supply Chains report states trade tensions caused by the sudden and rapid rollout of new tariffs will end the era of hyper-globalisation. It suggests that, while globalisation will continue, it will look very different. 'In the short term, tariffs will impact demand and inventory planning,' the report explains. 'To avoid initial tariff hikes, companies increased inventories in the US. Carrying larger inventories will become best practice if tariffs continuously increase, resulting in recurring price hikes for goods and services. Maintaining large inventories can be costly if demand declines rapidly. GlobalData expects demand to stay stable until the end of 2025 but may begin to dip in 2026 if the US economy enters a recession.' In the longer term, for companies to minimise costs related to tariffs, GlobalData indicates that they will need to reduce their reliance on global trade routes. 'Over the next five years, all major economies will try to reindustrialise and stimulate domestic demand,' the report says. 'Trade restrictions and stimulus packages will incentivise, or even force, companies to reconfigure their supply chains. There will be a shift towards localising supply chains to avoid the financial and operational penalties associated with offshoring production.' It notes, however, that reconfiguring supply chains is a lengthy, complex and expensive process. With this in mind, the report also forecasts increased investment in technology. 'Reconfiguring supply chains will accelerate automation,' it says. 'While automation requires significant upfront investment, it can help reduce labour costs, increase manufacturing efficiency and alleviate the financial burden caused by rising tariff rates and reshoring production. Beyond industrial automation, AI-powered tools can also analyse historic market data and help predict when and how future disruptions will impact supply chains.' Among other long-term recommendations outlined in the report are the assessment of alternative manufacturing locations, exploration of new markets and investment in robust supply chain management tools."Tariffs driving supply chain localisation and automation" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.

Embedded insurtech provider Wrisk raised £12m in Series B closing
Embedded insurtech provider Wrisk raised £12m in Series B closing

Yahoo

time18 hours ago

  • Automotive
  • Yahoo

Embedded insurtech provider Wrisk raised £12m in Series B closing

GlobalData surveying has found that industry insiders view embedded insurance as the fastest-growing distribution channel in personal lines insurance over the next five years. Meanwhile, the British insurtech company Wrisk announced the successful closing of its Series B funding round, securing £12m ($16.1m) to advance its strategic vision and fuel growth for embedded insurance. According to a poll conducted by GlobalData on Verdict Media sites in Q1 2025, which surveyed industry insiders, 31.6% of respondents believe that embedded insurance will experience the most significant growth within personal lines insurance over the next five years. Embedded insurance outpaced direct-to-consumer models (18.4%) and traditional broker networks (17.2%). Which distribution channel will see the most growth in personal lines insurance over the next five years? 2025 Industry insiders see embedded insurance as the channel with the most potential for growth because they place the cover exactly where and when consumers make purchasing decisions, removing extra steps and thus improving conversion rates. In addition, by partnering with non-insurance ecosystems such as ecommerce, insurers can tap into previously underserved segments with low distribution costs. Wrisk is a London-based leading embedded insurance provider in the automotive sector, providing a digital platform that allows automotive brands to integrate tailored motor insurance solutions directly into their sales and service platforms. The insurance solution is embedded beyond the purchase stage, accompanying customers throughout their ownership journey. Wrisk has secured collaboration with major players in insurance and the automotive industry, including Allianz and BMW. Its technology enables it to utilise real-time data and telematics to personalise insurance offerings, improving the customer experience. With the £12m injection, Wrisk will be able to accelerate the development of its API-first platform and expand its footprint in the European market. Its successful funding round reflects the market's confidence in embedded insurance as a way to drive digital transformation and ensure significant growth. Given the potential of the embedded insurance market, traditional insurance providers would benefit from seeking partnerships with insurtech companies to leverage the advantages of embedded insurance. Such partnerships would enable the seamless integration of insurance products into the customer journey and expand distribution channels. "Embedded insurtech provider Wrisk raised £12m in Series B closing" was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.

Novartis culls ianalumab in HS after Phase IIb trial failure
Novartis culls ianalumab in HS after Phase IIb trial failure

Yahoo

time20 hours ago

  • Business
  • Yahoo

Novartis culls ianalumab in HS after Phase IIb trial failure

Novartis is stopping the development of ianalumab in hidradenitis suppurativa (HS) after a Phase IIb proof-of-concept trial failed to meet its primary endpoint. The study (NCT03827798) had enrolled 248 patients with HS and was evaluating the change in simplified Hidradenitis Suppurativa Clinical Response (sHiSCR) after 16 weeks. The termination of the therapy in HS was announced in Novartis' Q2 results, with the company stating: 'Novartis will not advance investigation of ianalumab in HS following a Phase II proof-of-concept study which did not meet our target criteria despite demonstrating efficacy vs placebo. No new safety signals were observed, and all other studies for ianalumab in B-cell driven diseases continue as planned.' The indications Novartis will continue the development of ianalumab for include lupus nephritis, Sjögren syndrome, and autoimmune hepatitis. Ianalumab is a monoclonal antibody directed against the BAFF (B cell-activating factor belonging to the TNF family) receptor. It acts by preventing the activation of B cells to avoid overproduction. By reducing the number and activity of B cells, ianalumab can help to dampen the harmful immune responses that drive autoimmune diseases. If approved, GlobalData predicts ianalumab to reach sales of $638m in 2031. GlobalData is the parent company of Clinical Trials Arena. Four other pipeline drugs in Phase IIb study The Phase IIb trial also evaluated the efficacy of four other drugs in Novartis' pipeline, namely iscalimab, remibrutinib, LYS-006 and MAS-825. Data from the remibrutinib was presented at the American Academy of Dermatology (AAD) meeting in March 2024, with the drug having met its primary endpoint. As a result, Novartis is now running a Phase III trial of the therapy in HS (NCT06799000). Novartis has already secured a drug in the HS treatment space, after Cosentyx (secukinumab) gained approval from the US Food and Drug Administration (FDA) in October 2023. UCB's Bimzelx (bimekizumab) is the most recent biologic in HS, having been approved by the FDA in November 2024. AbbVie's flagship Humira (adalimumab) is also approved in HS and was the first biologic to be approved in the indication in 2015. "Novartis culls ianalumab in HS after Phase IIb trial failure" was originally created and published by Clinical Trials Arena, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.

Tesla finally parks in India. But can it survive the tariff war?
Tesla finally parks in India. But can it survive the tariff war?

Al Jazeera

timea day ago

  • Automotive
  • Al Jazeera

Tesla finally parks in India. But can it survive the tariff war?

New Delhi, India – Tesla is finally cruising in India, the world's third-largest car market, with the launch of its Model Y. The rollout marks the culmination of a decade-long, topsy-turvy journey. Showcased at its new showroom in Mumbai, India's financial capital, on Tuesday, Tesla's Model Y is now on sale for about $70,000, a price comparatively higher than in any other major market. Elon Musk's electric vehicle (EV) company is braving high tariffs and stiff competition in India's nascent but rapidly expanding EV market. As New Delhi negotiates a trade deal with the United States, India's car sector tariffs, arguably among the highest in the world, are a central topic. 'Tesla's entry into India marks a significant expansion of the company's global footprint,' said Kwan Wongwetsawat, a senior auto analyst at the research firm GlobalData. 'Before this decision, Tesla faced several market challenges,' he said, ranging from geopolitical concerns, a decline in global sales, and an uncertain launch schedule for a new compact model. So, what's the buzz about Tesla coming to India? Can it leverage the developing Indian market? And can India give a shoulder to Musk's EV giant as its global sales plummet? What is Tesla offering in India? To start with, in India, Tesla has chosen to offer its Model Y in the mid-range luxury segment, combining its hallmark features: minimalist design, high performance, and long-range driving distance. The driver-assistance technology is available as an add-on for 600,000 Indian rupees, or $7,000. Tesla is offering two variants of Model Y in India: the rear-wheel drive (RWD) and the long-range RWD edition. While the RWD has a range of up to 500 kilometres (310 miles) on a single charge, the long-range variant has a range of 622km (386 miles). In the Indian market, the Model Y will go head-to-head with other premium electric SUVs, such as the Mercedes-Benz EQB, BMW iX1, Volvo EC40, and Kia EV6. Tesla offers a four-year, or 80,000km, vehicle warranty for the battery and drive unit, whichever comes first. 'Tesla is the biggest EV company in the world, and its entry in India is a big milestone for the national EV industry,' said Puneet Gupta, who leads the India and Southeast Asia teams at automotive intelligence firm S&P Global Mobility. 'It's not just about selling cars in India. But Tesla's entry can help India to build the EV ecosystem,' Gupta told Al Jazeera. 'And the biggest impact of a company like Tesla is that it boosts people's confidence in EVs as a category.' The Model Y reaches a top speed of 201km/h (125mph), with six coloured exterior finishes. It is equipped with standard features such as automatic emergency braking, forward collision alerts, blind spot monitoring, and lane departure warnings. Tesla's signature Dashcam and Sentry Mode provide real-time recording and alerts for suspicious activity, even when the vehicle is parked. Why is Tesla so expensive in India? Tesla's Model Y rear-wheel drive is priced at 6 million Indian rupees, or $70,000, while the long-range RWD edition is priced at about 6.8 million Indian rupees, or just below $80,000. Tesla's website does not provide the price breakdown, including delineating the additional import tariff costs and levies imposed by a state. These prices for Model Y are higher than in any other major car market. They start at $44,990 in the United States, $36,700 in China, and $53,700 in Germany. India currently imposes one of the highest import duty tariffs on fully built cars in the world, significantly shooting up prices of foreign vehicles, including EVs like those from Tesla. Until recently, India imposed a 110 percent import duty on all fully built vehicles. The Indian government revised this policy, lowering the import duty to 15 percent for carmakers committing to invest and set up local manufacturing facilities within a three-year timeframe. This steep tariff structure has been a point of contention for global carmakers like Tesla, which has long lobbied for a reduction in duties to test market viability before committing to local manufacturing. US President Donald Trump has repeatedly criticised and called out India as a 'tariff king'. Both countries continue to negotiate a trade agreement, where the auto sector reportedly remains a central focus. Musk, Tesla's CEO, has also noted that 'import duties [in India] are the highest in the world by far of any large country!' What is India's EV sector like? India has set a national goal of achieving 30 percent EV adoption by 2030. While electric car sales in India increased by 20 percent in 2024 from the year before, EVs still represented just 2.5 percent of the total 4.3 million passenger vehicles sold. Despite its relatively small base, the EV sector in India is projected to grow rapidly, from its current market value of $54.41bn to $111bn by 2029. Currently, local manufacturers dominate the space, offering competitively priced EVs tailored to India's cost-conscious consumers. Tata leads with approximately 60 percent of the market share in the electric car segment, followed by JSW MG Motor India – a collaboration between India's JSW Group and China's SAIC Motor – and then Mahindra & Mahindra. High-end electric cars, priced above $20,000, made up a minuscule 6.6 percent of total EV sales last year. This is where Tesla will have to compete with the likes of Mercedes-Benz, BMW, KIA and Audi. How are Tesla sales faring in other markets? Tesla is coming to India as its EV sales plunge in global markets, and as the company bets on its revised Model Y to turn its fortunes around. In its home market, the US, sales continued to fall in the second quarter of 2025 by 6.3 percent, marking Tesla's third straight quarterly drop in year-over-year domestic sales. Facing protests against Musk's politics and earlier involvement with the Trump administration, sales have fallen for five straight months in Europe. With some consumers switching to cheaper Chinese EVs, Tesla's market share has dropped to just 1.2 percent in May from 1.8 percent a year ago. In China, Tesla's second-biggest market, the Q2 deliveries fell by nearly 12 percent. 'Tesla has been facing tough times globally, so the company also desperately wants new markets, and India, being the world's third-largest market, is a great opportunity for them to make up for some loss,' said Gupta of S&P Global Mobility. In several countries, Tesla's Chinese competitors are outselling Musk's EVs. And that's where the vast Indian market comes into the equation for Tesla, noted experts. Due to geopolitical tensions between India and China, rival Asian neighbours, only a few Chinese EVs are pitching to the Indian market. In 2023, the Indian government rejected BYD's proposal to establish a $1bn factory locally. While SAIC Motor operates in India in collaboration with India's JSW Group, BYD relies on importing multiple models. 'BYD is a direct competitor to Tesla, but the brand is also facing challenges in India and has yet to establish local production in the country,' said Wongwetsat. As a result, he added that both Tesla's prices in India and those of BYD are higher than in other markets. 'However, there is a clear price distinction between Tesla and local competitors like Tata, MG, and Mahindra,' placing Musk's company in the luxury segment. Unlike other Chinese-dominated EV markets in Asia, India offers a rather open market for Tesla to introduce high-end features and build an ecosystem from the ground up. 'The Chinese companies are not comfortable investing in India, and even Indian consumers are not comfortable buying Chinese due to the uncertain geopolitical situation,' said Gupta. 'For now, the Indian market's positioning is a very good advantage for Tesla, where you really don't get competition from Chinese, which is really killing Tesla both in terms of price and features,' Gupta told Al Jazeera. What challenges does Tesla face in India? For starters, India, which has the world's biggest population, is a starkly unequal country, where 90 percent of the population does not have discretionary spending capacity. Tesla's base offering is priced at $70,000, where, on a national average, per capita income is $2,880. Another concern is that India's infrastructure, including the condition of its roads and poor traffic discipline, could pose challenges for Tesla vehicles' lower ground clearance. India has only one charging station for every 235 EVs, with a total of 26,367 public charging stations nationwide for its 1.46 billion people. In contrast, the US has more than 61,000 charging stations for its 330 million people. At its media-only launch in Mumbai on Tuesday, Isabel Fan, Tesla's regional director, said, 'We are here to create the ecosystem, to invest in the necessary infrastructure, including the charging infrastructure.' Tesla announced that it will set up four charging stations in Mumbai. More will come to Delhi soon. 'We are building from 0 to 100. It will take time to cover the whole country,' Fan said. Reading into the Indian EV market, Wongwetsat of GlobalData said that 'Tesla's arrival may not significantly impact overall battery electric vehicle (BEV) sales in India, but it could attract demand from consumers interested in luxury brands like BMW and Audi.' Additionally, the launch of Tesla cars in India may be just one aspect of Tesla's broader ecosystem, Wongwetsat said, which includes sectors such as solar energy, energy storage systems, and even the space industry, all of which could enhance Tesla's appeal. Will Tesla lose subsidies in the US? Musk and the US president's apparent public fallout took a sharp turn earlier this month as Trump threatened to cut off billions in federal environmental subsidies that have benefitted Tesla and Musk's other companies. The clash follows Musk's renewed criticism of Trump's tax and spending bill, which includes provisions to eliminate key clean energy incentives – specifically, the $7,500 consumer tax credit for electric vehicles that has long supported Tesla's market growth. Trump, responding to Musk's criticism, warned that the Tesla CEO could 'lose a lot more' than just EV incentives. The dispute has broader implications. Musk has threatened to fund campaigns against lawmakers who back the bill and even floated the idea of launching a new political party.

TIER IV to launch Level 4+ autonomy architecture in Japan
TIER IV to launch Level 4+ autonomy architecture in Japan

Yahoo

timea day ago

  • Automotive
  • Yahoo

TIER IV to launch Level 4+ autonomy architecture in Japan

TIER IV, an open-source software developer for autonomous driving, says it is set to introduce an end-to-end architecture for Level 4+ autonomy in mobility services across 50 Japanese locations, beginning in early 2026. This system, which does not require human intervention even in new situations, will undergo large-scale demonstrations to assess its performance in real-world conditions. Through the pursuit of Level 4+ autonomy, TIER IV aims to address significant challenges in the country, such as revitalising local communities and bolstering industrial competitiveness. The architecture, accessible through the open-source Autoware platform, leverages diffusion model-based machine learning for a range of driving tasks including surrounding object prediction and vehicle trajectory generation. It enables the system to exhibit human-like driving behaviour in complex environments, such as navigating through busy intersections or avoiding obstacles. The system integrates rule-based components to ensure both 'high interpretability and operational stability'. This approach aims to provide a practical foundation for achieving Level 4+ autonomy in vehicles. To refine the development of its models, TIER IV utilises the modular architecture and simulation capabilities of Autoware. This allows for the creation of large-scale synthetic training data, which, when combined with real-world data, leads to the efficient development of high-performance models. The company noted that it plans to continue enhancing its datasets and model performance to bolster the robustness of the architecture. TIER IV also said that it explores various data-centric AI models for adaptability in different applications, from personal cars to commercial vehicles for mobility and logistics services. Leveraging Autoware, TIER IV claims to create scalable platforms and provide comprehensive solutions in software development, vehicle manufacturing, and service operations. In March 2025, TIER IV showcased its latest prototype of a steering wheel- and pedal-free robotaxi in Japan. "TIER IV to launch Level 4+ autonomy architecture in Japan" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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

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