Denso to invest ₹250 crore in new EV component plant in UP
Denso Corporation
will invest ₹250 crore to establish a manufacturing plant for
motor generators
in Gautam Budh Nagar, Uttar Pradesh, a key move to bolster the electric and hybrid vehicle ecosystem in India,
TNN
reports.
The investment was confirmed after a strategic meeting between Denso executives and a visiting delegation from Uttar Pradesh, led by Alok Kumar, principal secretary (infrastructure and industrial development), at Denso 's global headquarters in Kariya, Japan. Senior members of Invest UP also participated in the discussions.
Motor generators, central to hybrid and electric vehicles, will be the primary focus of the upcoming facility, which is expected to support India's transition to
cleaner mobility solutions
.
The meeting took place on the sidelines of the
World Expo 2025
in Osaka, where a UP delegation headed by state finance minister Suresh Khanna is engaging with Japanese industry leaders and government officials. The team also held talks with Osaka Prefectural Assembly leaders, Kida Kaoru and Kinjo Katsunori, focusing on opportunities for industrial collaboration, technology transfer, and workforce upskilling.
Invest UP's pavilion at the Expo is reportedly drawing strong global interest, showcasing Uttar Pradesh's infrastructure readiness, policy support for industries, and its ambitions in the electric mobility sector.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
5 hours ago
- Hindustan Times
Bengaluru's twin tunnel project to use slurry boring machines for excavation: Report
Plans for Bengaluru's new twin tunnel road, which will link Hebbal's Esteem Mall Junction and Silk Board Junction, will rely on slurry tunnel boring machines (TBMs) to do the heavy digging. A Tunnel Boring Machine (TBM). (Representative image)(PTI) The organization overseeing the project, B-SMILE, opted not to use hard rock TBMs — machines generally preferred when excavating through areas riddled with boulders. Their decision comes after evaluating the city's subsurface, which blends both stones and softer soil, making slurry TBMs a better fit for the job. ALSO READ | Bengaluru resident questions city's liveability after 9 years: 'We're all just surviving' BS Prahlad, the project's technical director, shared that lessons from an earlier tunnel build in Mumbai pushed the team toward slurry-based machines this time around, according to The Hindu. ALSO READ | L&T terminated Corridor-2, Corridor-4 contracts of suburban rail project illegally: K-RIDE For the twin tunnel project, a total of eight tunnel boring machines will be brought in, starting work from five or six launch sites along the nearly 17-kilometre route. The massive venture is structured under a Build, Own, Operate, and Transfer (BOOT) model, which means successful bidders will be responsible for acquiring and managing the machinery, whether they import or locally assemble the TBMs themselves, the report stated. Past tunnel work in Bengaluru — like the Namma Metro — has achieved boring rates between 1.6 and 2 kilometres per year using similar technologies. The exact pace on this project will ultimately depend on the ground composition encountered during the drilling process. As part of the tendering process, the government is providing borewell survey information, but insists that detailed site investigation and analysis will be the winning bidder's responsibility. ALSO READ | Japanese man compares Bengaluru airport to a luxury hotel: 'Never seen anything like this before' The twin tunnel itself, spanning roughly 16.7 kilometres, aims to ease congestion by providing a new north-south route beneath the city's surface. Geological experts say the use of slurry TBMs may also help fill and secure natural fractures in Bengaluru's ancient, complex underground rock, some parts of which date back several billion years.
Mint
8 hours ago
- Mint
Who's feeling the pain of Trump's tariffs?
In the bygone age that was 2024, America charged levies averaging just 2% on its imports of goods. In the new era of trade wars, it now has an 'effective' tariff of over 16%, the highest since the 1930s (see chart 1). (The Economist) Rates look set to go even higher. On July 31st President Donald Trump signed an executive order that significantly raises tariffs on most of America's trading partners, with the increases due to go into effect on August 7th. Duties on most products from the European Union and South Korea, which recently struck deals with America, will rise to 15%. India faces a tariff of 25%; South Africa, 30%; Canada, 35%. As we published this, Mr Trump seemed inclined to extend America's tariff truce with China. But that still leaves the world's second-largest economy facing levies of around 40% on sales to the world's largest. Who pays for these tariffs, in all their infinite variety? Most economists reckon that ordinary Americans will lose out, as prices in shops rise. Mr Trump and his coterie, by contrast, blithely insist that the rest of the world will shoulder the load by cutting their selling prices. So far, the evidence is giving the know-nothings a glimmer of hope. Mr Trump's critics in the economics profession have history and research on their side. Studies show that when a country imposes duties on its imports, its foreign suppliers often keep their prices roughly the same. The tariff is layered on top. So it was during the first Trump administration, which slapped tariffs on China and others. A study from 2019 found 'complete pass-through of the tariffs into domestic prices of imported goods'. Some foreign firms are taking a similar stance in response to Mr Trump's new levies. In April Ferrari added up to 10% to the price of its cars. Britain's Ineos said it would charge more for its Grenadier off-roader. Canon, a camera-maker, has warned dealers to brace for price increases. But the broader pattern is more benign. There is, for example, surprisingly little evidence so far of tariff 'pass-through' into inflation. In June America's 'core' consumer prices (ie, excluding food and energy) rose by 0.2% on the previous month, below the consensus estimate of 0.3%. Economists have found some evidence of tariff-induced price rises—in car parts, for instance—but they have had to look harder for it than they had expected. What explains these surprising results? American firms, not consumers, may be paying for the trade war by accepting lower profits, suggests research by Deutsche Bank. Some firms also boosted inventories before the tariffs were implemented, allowing them to avoid raising their prices for now. America's foreign suppliers may also be sharing more of the load than they did in Mr Trump's first term. Nintendo, a Japanese electronics firm, is keeping the American price of the Switch 2 games console at $449.99. Many Chinese manufacturers seem prepared to follow Nintendo and absorb duties: Fuling, a supplier of cutlery, says its clients expect it to shoulder 'part of the increased tariff costs'. TIRTIR, a South Korean beauty brand popular with American Gen Zers, has signalled that it can absorb most of the tariffs. Games Workshop, a British manufacturer of war games, also seems resigned to taking the hit, warning investors that tariffs could reduce annual profits by £12m ($16m). 'We found tentative evidence that Korean auto exporters are shouldering the cost of higher US tariffs, at least for now,' wrote Kim Jin-Wook of Citigroup, a bank, in a recent note. The Bank of Japan tracks the prices of the country's car exports to America. In yen terms, they have fallen by 26% in the past year. Some of that decline may reflect exchange-rate movements. An unchanged dollar price brings in fewer yen when the American currency is weak. But that only raises another question: why are Japan's carmakers not raising their dollar prices more vigorously in response? More comprehensive data point in a similar direction. The Economist assembled a series on export prices from a number of America's largest trading partners, including Canada, Germany and South Korea. In the past exporters in these countries have been perfectly willing to raise prices: during the inflationary surge of 2021-22, they increased them by more than 15% over a 12-month span (see chart 2). Yet in the past year the average local-currency price of their exports has fallen by 3.6%. Nothing of the sort happened during Mr Trump's first trade war. (The Economist) Some economists have noted a disconnect between what foreigners report and what American importers say they are paying. For instance, it is hard to find much evidence of plunging prices for Japanese car imports. Economists at Citi speculate that the time it takes to ship a foreign product to an American port may explain the puzzle. It 'implies a lag between falling export prices and when US import-price data would capture the decline', they say. Why might foreign suppliers be so forgiving? Some bosses worry more than before about the American consumer. With high inflation a recent memory, people already think that everything is too expensive. They have little tolerance for paying even higher prices. The opposite may be true of the foreign companies themselves. They are in a good financial position to withstand the tariffs. Aggregate margins of listed companies in emerging markets have become fatter over the past decade, increasing by over two percentage points. European firms have enjoyed similar gains. These companies can afford to take a small hit to profits, at least for now. Before long America's economy is likely to feel the pain of the trade war more acutely. Although some Chinese firms may have lowered their prices, these cuts are not nearly deep enough to offset the huge rise in tariffs they now face, points out Deutsche Bank's research. In addition, foreign companies that have borne the costs until now may not be able to bear them for ever—especially if tariff rates keep ratcheting up. The president loves defying his adversaries, in the economics profession and beyond. But he is always his own worst enemy. © 2025, The Economist Newspaper Limited. All rights reserved. From The Economist, published under licence. The original content can be found on Disclaimer: © 2025, The Economist Newspaper Limited. All rights reserved. From The Economist, published under licence. The original content can be found on
Indian Express
15 hours ago
- Indian Express
Ferrari's Leclerc stuns the McLarens to take pole for F1's Hungarian Grand Prix
Charles Leclerc snatched a surprise first pole position of the year for Ferrari at the Hungarian Grand Prix on Saturday, beating both McLarens. Leclerc punched the air in delight as he climbed out of the car after beating Oscar Piastri by 0.026 of a second and the other McLaren of Lando Norris by .041. Leclerc had consistently been the best of the rest behind the McLarens in practice but remained well off Piastri and Norris' pace. That changed in qualifying, with the help of conditions which gradually got gloomier and windier, working against the McLarens. Norris and Piastri were each about half a second slower per lap in the final part of qualifying, compared to the second segment. Still, pole came as a shock at a circuit which Leclerc had called 'by far the worst track of the season for me' on Thursday. 'What?' Leclerc exclaimed over the radio when he was told he'd qualified first. 'Honestly, I have no words. It's probably one of the best pole positions I've ever had because it's the most unexpected,' Leclerc added later. Pole position is usually a big advantage in Hungary, where overtaking is difficult, but Norris noted the chance that rain could spring some surprises for Sunday's race. 'I have no idea how it will go, but one thing for sure is that I will do absolutely everything in order to keep that first place,' said Leclerc, who's on pole for the 27th time in F1 but doesn't have the best record converting those starts into wins. He'll be seeking his ninth F1 victory Sunday. It was a stark contrast with yet another frustrating day for Lewis Hamilton in the other Ferrari. Hamilton has won the Hungarian Grand Prix a record eight times but qualified 12th as the seven-time champion's troubles in his first season with Ferrari continued. 'Every time, every time,' Hamilton told the team over the radio after he qualified outside the top 10 for the second straight race. That came after Ferrari's executive chairman John Elkann called it 'a rough season' in comments Saturday on the F1 website, and defended Ferrari's trust in team principal Fred Vasseur, whose contract extension was announced Thursday. Ferrari hasn't won a Grand Prix since Carlos Sainz, Jr.'s victory in Mexico in October, when the Spanish driver — now at Williams — also had the Italian team's last pole. Defending champion Max Verstappen was only eighth after struggling with the balance of his Red Bull, and his teammate Yuki Tsunoda was 16th. That piles more pressure on the Japanese driver, who hasn't scored a point in six races.
