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Yahoo
an hour ago
- Yahoo
China's exports of rare earth magnets to the U.S. skyrocket in June
BEIJING (Reuters) -China's exports of rare earth magnets to the United States in June soared by more than six times from May, a sharp recovery in the flow of critical minerals key to electric vehicles and wind turbines after a Sino-US trade deal. Outbound shipments to the United States from the world's largest producer of rare earth magnets surged to 353 metric tons in June, up 660% from May, data from the General Administration of Customs showed on Sunday. That came after pacts reached in June to resolve issues around shipments of rare earth minerals and magnets to the United States, with chipmaker Nvidia's plan to resume sales of its H20 AI chips to China as part of the talks. China, which provides more than 90% of global supply of rare earth magnets, decided in early April to add several rare earth items to its export restriction list in retaliation for U.S. tariffs. The subsequent sharp falls in shipments in April and May, due to the lengthy times required to secure export licences had rattled global suppliers, forcing some automakers outside China to halt partial production due to shortage of rare earths. In total, China exported 3,188 tons of rare earth permanent magnets last month, up 157.5% from 1,238 tons in May, although the June volume was still 38.1% lower than the corresponding month in 2024. Shipments of magnets are likely to recover further in July as more exporters obtained licences in June, analysts said. During the first half of 2025, exports of rare earth magnets fell 18.9% on the year to 22,319 tons. 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
Yahoo
3 hours ago
- Yahoo
Viomi Technology (VIOT) Announces Approval of a Special Dividend
Viomi Technology Co., Ltd (NASDAQ:VIOT) is one of the . On July 14, Viomi Technology Co., Ltd (NASDAQ:VIOT) announced that its Board of Directors approved a special dividend of $0.0293 per ordinary share ($0.0880 per American depositary share, or ADS). The aggregate amount of the special dividend is expected to be approximately $6 million. A customer in an offline experience store testing out a new small appliance. The dividend will be paid on or around August 18, 2025, to the holders of Viomi Technology Co., Ltd.'s (NASDAQ:VIOT) ordinary shares, of record, as of the close of business on July 31. The special dividend payment to holders of ADSs is subject to the terms of the deposit agreement. The dividend will be paid to holders of ADSs on or around August 21, of record, as of the close of business on July 31. Based in China, Viomi Technology Co., Ltd (NASDAQ:VIOT) operates an IoT Home platform and sells IoT-fitted smart home products. These include its flagship line of water purification systems, smart kitchen products, and other offerings. The company also offers complementary consumable products such as water purifier filters, water quality meters, and water filter pitchers. While we acknowledge the potential of VIOT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Entrepreneur
3 hours ago
- Entrepreneur
Mobility for Bharat
Sulajja Firodia Motwani, founder and CEO of Kinetic Green believes two and three wheelers (EV) will account for 60–70% and India will lead the world in these segments Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. "Entrepreneurship is in my blood. I've grown up with it, it's a way of life," says Sulajja Firodia Motwani, the force behind Kinetic Green, doesn't just run a company, she carries forward a legacy shaped over three generations. As the granddaughter of mobility pioneer H. K. Firodia and daughter of Kinetic Group's founder Arun Firodia, Sulajja grew up immersed in machines, mobility, and the mindset of building for Bharat. But with Kinetic Green, launched in 2015, she chose to chart her own path which is driven by purpose, powered by sustainability, and deeply rooted in India's evolving needs. "Kinetic Green is a venture that's very close to my heart. It's not just about being passionately involved, it's my purpose," she explains. "I wanted to contribute to the future of India's transport the same way my grandfather and father did for the past generations." The startup launched at a time when EVs were barely on the national radar. There were no subsidies, no demand, and no local supply chains. Still, the company began building from scratch by collaborating with scientific institutions like CSIR and investing in homegrown R&D. "We didn't take shortcuts like importing from China. We started from the drawing board, invested in core technologies, and built everything around the Indian customer," she notes. Today, Kinetic Green has sold over 1.5 lakh EVs, has a team of 500 people, and has clocked INR 1,500 crore in cumulative revenue. Their current run rate is INR 300 crore, and they aim to scale up to INR 750 crore soon with a long-term vision of becoming a billion-dollar enterprise within five years. If there's one principle that defines Kinetic Green, it's accessibility. Motwani calls it "democratising e-mobility" ensuring electric vehicles are not just for the elite, but also for rural India, delivery workers, farmers, and first-time entrepreneurs. "Our e-Luna is India's only EV truly suited for rural markets. It gives 100 to 250 km range, can be charged at home with a 3-pin plug, and offers battery swapping for commercial users," Motwani says. Kinetic Green has even installed over 300 rural charging stations and offers home charging as standard, addressing one of the largest adoption hurdles. Motwani's journey hasn't been without challenges. She recalls the early years when belief in EVs was minimal, and her team had to work closely with policymakers to help shape India's early EV policy. "There were more questions than answers. There were no incentives, no awareness, and no demand. But we believed in the technology and worked on every front, from regulation and financing to supply chain and product engineering." She played a pivotal role in shaping the sector, chairing the EV committee at Techies, heading the Indian Federation of Green Energy (IFGE), and participating in consultations with NITI Aayog and ministries to create demand and policy ecosystems for EVs. One of her most satisfying achievements was deploying over 27,000 electric rickshaws in Uttar Pradesh, transforming the lives of cycle-rickshaw pullers who went from earning INR 200 to INR 1,000 per day. Despite the progress, Motwani remains grounded about the road ahead. From financing constraints to misconceptions around battery safety and affordability, she continues to tackle industry barriers head-on. Her mantra for the team is if you can't hit a winning stroke, stay in the volley. "Entrepreneurship is not easy. You face a new problem every day. But I believe in thoughtful engineering not technology for the sake of speed or glamour, but innovation that truly solves customer needs." With two major product announcements lined up, the company's next phase promises global flair. On July 17, Kinetic Green will launch a new line of golf and lifestyle carts in partnership with the Lamborghini family. Featuring Italian design and Indian engineering, the vehicles will be exported to the UAE, Europe, Asia, and eventually North America. Closer to home, the company is also rolling out new high-performance electric scooters tailored for India's urban commuters and family users by FY27. "We've raised USD 26 million from Greater Pacific Capital and Venture Catalyst to fund this next phase. Until now, we've built everything on promoter equity profitably. But now we're ready to scale." Motwani is confident about the future. With government targets of 30% EV adoption by 2030, she believes two and three wheelers will account for 60–70% of this transformation and India will lead the world in these segments. "The green transport train has left the station. It's no longer about if or why EV. Now it's about how and when," Motwani concludes. Factsheet:
