According to an assessment by US officials, it is revealed that China is playing a significant role in the military expansion of Russia, particularly in its efforts in the war against Ukraine. China has been increasing its sales of various technology and equipment to Russia, which Moscow will use to build up its military arsenal. China has been the major supplier of microelectronics, machine tools, and other crucial technology to Russia. In 2023, around 90% of Russia’s microelectronics came from China, which is essential in the production of tanks, missiles, and aircraft. Additionally, over 70% of Russia’s machine tool imports came from China last year.
Tag: Electric Cars
Tata Motors should worry about BYD and Xiaomi and not Tesla
Concerns have been raised by indigenous automobile manufacturers, most notably Tata Motors, in response to the recent statement made by the Indian government on a new policy for electric vehicles (EVs). In particular, the policy includes a provision for decreased customs tax for global EV manufacturers such as Tesla. In spite of the fact that the strategy is designed to entice well-known electric vehicle manufacturers to set up production facilities in India, it also raises concerns over the possibility of rivalry and the consequent effects it may have on domestic companies. The Make in India project provides businesses with the option to import a considerable number of electric cars each year, allowing them to take advantage of a significantly reduced customs tax rate of 15%.