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    Impact of US tariff on permanent magnets imported from mainland China
    Announcement of US tariffs On May 14 the US announced changes in tariffs to thwart imports of electric vehicles, lithium-ion batteries and critical minerals such as graphite and permanent magnets from mainland China. As per the official announcement, in 2024, the tariff on EVs imported from mainland China will increase from 25% to 100%, the tariff on lithium-ion EV batteries will increase from 7.5% to 25%, and the tariff on battery parts will increase from 7.5% to 25%. The new tariffs will ta...
    What Beijing Auto Show 2024 hints about the future of automotive lighting
    The 2024 Beijing International Automotive Exhibition that concluded earlier in May once again put the spotlight on the fast-growing automotive market of mainland China. The event, more popularly known as the Beijing Auto Show, saw participation from all major automakers, both foreign and local, and automotive suppliers. The massive scale of the event and the level of attention it garnered are evident from the fact that automakers showcased 278 battery-electric vehicle (BEV) and plug-in hybrid el...
    VinFast deepens collaboration with Bosch to access 700,000 EV charging points in Europe
    Vietnamese EV maker VinFast Auto has signed a cooperation agreement with Bosch, a leading global supplier of automotive technology and services, to get access to the latter’s extensive network of 700,000 charging points in 30 countries in Europe, the company announced on May 15. The cooperation deal with Bosch will provide VinFast’s EV customers in Europe access to a large network of EV charging points across Europe, providing these customers with the freedom and convenience to travel acr...
    Bosch, Lennox, Samsung eye Johnson Controls HVAC business ‒ report
    According to a Reuters report dated March 23, Robert Bosch GmbH, Lennox International, and Samsung Electronics are among the industrial firms competing to acquire heating and ventilation assets worth over $6 billion from Johnson Controls International, quoting sources. The report further added that Milwaukee-based Johnson Controls has been working with its advisers to sell its residential and light commercial businesses, including a U.S. business and a 60% stake in an air-conditioning venture...