Xi Urges ‘New Model' for China Urban Development in Rare Meeting
China will 'steadily advance renovation of urban villages and dilapidated houses,' the official Xinhua News Agency reported Tuesday, citing the Central Urban Work Conference held on Monday and Tuesday. The announcement follows a pledge by the government last October to renovate 1 million homes in older, rundown dwellings in large cities.
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Mobile Charging Solutions to Support OHEV Adoption and Renewable Energy Integration with OHEV Systems Fueling Opportunities
The Asia-Pacific off-highway electric vehicle market is predicted to expand significantly, rising from $1.83 billion in 2024 to $20.87 billion by 2034, with a CAGR of 27.52%. This growth is driven by the increasing adoption of electric vehicles in mining, construction, and agriculture across China, India, and Southeast Asia. Technological advancements in battery efficiency and charging infrastructure, along with stringent emission regulations and corporate sustainability goals, are major catalysts. However, challenges remain, including high upfront costs and limited rural charging infrastructure. Key players such as Hitachi, Sany Group, and Komatsu are leading the market. Asia-Pacific Off-Highway Electric Vehicle Market Dublin, July 15, 2025 (GLOBE NEWSWIRE) -- The "Asia-Pacific Off-Highway Electric Vehicle Market: Focus on Application, Propulsion Type, Vehicle Type, and Country-Level Analysis - Analysis and Forecast, 2024-2034" report has been added to Asia-Pacific off-highway electric vehicle market is projected to grow from $1.83 billion in 2024 to $20.87 billion by 2034, showing a robust CAGR of 27.52% during the forecast period 2024-2034. The market for off-highway electric vehicles (OHEVs) in the Asia-Pacific region is expanding as end users, businesses, and governments look for cleaner, more effective substitutes for diesel-powered machinery. Particularly in China, India, Japan, and Southeast Asia, OHEVs - which include electric tractors, loaders, forklifts, and other specialised machinery - address growing concerns about fuel prices, emission standards, and occupational health. The need for electric solutions has increased due to rapid urbanisation and infrastructure initiatives, particularly in industries like mining, construction, warehousing, and policies that reduce upfront costs and promote local production, like China's rural electrification initiatives and India's FAME incentives, are important motivators. Reliability and operational range are increased by technological advancements in battery chemistries (particularly lithium-ion and LFP) and growing charging networks. Adoption is further accelerated by demand from manufacturing parks, logistics centres, and expansive plantations as fleet operators become aware of the advantages of total cost of ownership and corporate sustainability including a lack of adequate charging infrastructure in rural locations, greater construction costs than diesel alternatives, and a lack of skilled maintenance workers, however, may restrain expansion. To get around these obstacles, market participants are investing in after-sales support networks and forming alliances with regional assemblers. Strong OHEV deployment is anticipated over the next five years due to increased government support, ongoing battery technology advancements, and growing environmental consciousness, establishing APAC as a preeminent off-highway electrification region. How can this report add value to an organization?Product/Innovation Strategy: This report provides a comprehensive product and innovation strategy for the APAC off-highway electric vehicle market, highlighting opportunities for market entry, technological advancements, and sustainable practices. It offers actionable insights that enable organizations to meet carbon reduction goals and capitalize on the increasing demand for off-highway electric vehicles across various Strategy: This report outlines a robust growth and marketing strategy specifically tailored for the APAC off-highway electric vehicle market. It emphasizes a targeted approach to identifying niche market segments, establishing competitive advantages, and implementing innovative marketing initiatives to optimize market share and financial performance. By leveraging these strategic recommendations, organizations can strengthen their market presence, exploit emerging opportunities, and drive revenue growth Strategy: This report formulates a strong competitive strategy designed for the APAC off-highway electric vehicle market. It assesses key market players, suggests differentiation tactics, and provides guidance for maintaining a competitive edge. By following these strategic directives, companies can effectively position themselves against competitors, ensuring long-term success and profitability in a rapidly evolving Market Players and Competition SynopsisThe companies that are profiled in the Asia-Pacific off-highway electric vehicle market have been selected based on input gathered from primary experts and analyzing company coverage, project portfolio, and market penetration. APAC Off-Highway Electric Vehicle (OHEV) Market Trends, Drivers and Challenges Trends Adoption in Agriculture and Construction: Electric tractors, loaders, and other off-highway equipment are gaining traction, particularly in China and India, as manufacturers introduce battery-powered models. Emergence of Electric Material Handling: Warehousing and logistics sectors in Southeast Asia are increasingly using electric forklifts and other material handling vehicles to improve indoor air quality. Partnerships and Local Manufacturing: OEMs are collaborating with local assemblers in markets like Thailand and Vietnam to develop cost-effective OHEV solutions tailored to regional needs. Advancements in Battery Technology: Improved energy density and faster charging capabilities are enabling longer operating hours for off-highway applications, driving broader commercialization. Drivers Stringent Emission Regulations: China's aggressive carbon-neutrality targets and India's push for cleaner farm equipment are compelling investments in electric off-highway solutions. Total Cost of Ownership (TCO) Savings: Lower fuel and maintenance costs over an asset's lifecycle appeal to end users in sectors like mining and logistics. Government Incentives and Subsidies: Subsidies for electric tractors (e.g., India's FAME scheme) and tax breaks for sustainable equipment in Australia accelerate OHEV adoption. Corporate Sustainability Goals: Large plantation, mining, and construction firms across APAC are targeting net-zero operations, favoring electric heavy machinery. Challenges High Upfront Capital Costs: Premium pricing compared to diesel counterparts deters small and medium enterprises, especially in price-sensitive markets. Charging Infrastructure Gaps: Limited availability of fast-charging stations at remote worksites hinders operational continuity for electric off-highway fleets. Battery Durability and Performance: Harsh operating conditions (dust, vibration, extreme temperatures) in mining and construction test battery longevity and reliability. Lack of Skilled Technicians: Region-wide shortage of technicians trained to service high-voltage systems and lithium-ion batteries slows after-sales support and maintenance. Key Attributes: Report Attribute Details No. of Pages 76 Forecast Period 2024 - 2034 Estimated Market Value (USD) in 2024 $1.83 Billion Forecasted Market Value (USD) by 2034 $20.87 Billion Compound Annual Growth Rate 27.5% Regions Covered Asia Pacific Market Dynamics Trends: Current and Future Impact Assessment Technology Development in Off-Highway Electric Vehicles Integration of Autonomy in Mining Vehicles Market Drivers Increased Focus toward Emission and Noise Reduction Compliance with Emission Regulations Market Restraints Energy Storage and Range Limitations High Initial Costs and Economic Viability Market Opportunities Mobile Charging Solutions to Support OHEV Adoption Renewable Energy Integration with OHEV Systems Supply Chain Overview Value Chain Analysis Market Map Excavators Trucks Loaders Others Pricing Forecast R&D Review Patent Filing Trend (by Country and Company) Regulatory Landscape Stakeholder Analysis Use Case End-User Buying Criteria Comprehensive Analysis of Diesel vs. Electric Off-Highway Vehicles Future Trends in the Electrification of Off-Highway Vehicle Market, 2023-2030 The Emerging Parallels Between On-Highway and Off-Highway ElectrificationCompanies Featured Hitachi Construction Machinery Co., Ltd. Sany Group Komatsu Ltd. Market Segmentation Application Construction Mining Agriculture Others Propulsion Type Battery Electric Vehicles (BEVs) Hybrid Electric Vehicles (HEVs) Vehicle Type Excavators Trucks Loaders Others (Tractors, Snow Grooming, etc.) For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Asia-Pacific Off-Highway Electric Vehicle Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error 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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Morning Bid: CPI, banks and Nvidia, oh my!
By Mike Dolan LONDON (Reuters) - What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets After a relatively quiet start to the week, markets on Tuesday will have to navigate a torrent of new information on U.S. inflation, bank earnings and Chinese growth, with a fresh jump from chip giant Nvidia thrown into the mix. I'll dig into all of this below. Make sure to check out today's column, where I discuss how markets are reacting to the renewed pressure President Trump is putting on Fed Chair Jerome Powell. Today's Market Minute * China's economy slowed less than expected in the second quarter in a show of resilience against U.S. tariffs, though analysts warn that weak demand at home and rising global trade risks will ramp up pressure on Beijing to roll out more stimulus. * The 30% tariff on European goods threatened by U.S. President Donald Trump would, if implemented, be a game-changer for Europe, wiping out whole chunks of transatlantic commerce and forcing a rethink of its export-led economic model. * Tesla launched its Model Y at about $70,000 in India, the highest price among major markets, as the U.S. automaker grappling with slowing sales bets on prospects in a country CEO Elon Musk has long criticised for its high import tariffs. * China's imports of major commodities presented a mixed picture in the first half, writes ROI columnist Clyde Russell, but if there is a clear trend it is that the world's top buyer of natural resources is increasingly sensitive to prices. CPI, banks and Nvidia, oh my! The artificial intelligence bellwether, already up more than 20% for the year and the first company to top a $4 trillion valuation, rose another 4% out of hours overnight after it said it plans to resume sales of the H2O AI chips to mainland China just days after its CEO met U.S. President Donald Trump. "The U.S. government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon," said the company, whose chief executive, Jensen Huang, is in Beijing. The move is controversial in the geopolitical context and the White House, which has previously expressed concern that the Chinese military could use AI chips to develop weapons, did not respond to a request for comment. After Wall Street stock indexes ended in positive territory on Monday, stock futures were higher again first thing today. Earlier, Chinese stocks eked out modest gains after economic updates showed GDP growth there slowed down by less than expected in the second quarter despite the global tariff turmoil - registering a 5.2% year-on-year expansion of the economy. June numbers were more of a mixed bag, with an acceleration of Chinese industrial production offset by a miss in retail sales growth and another monthly decline in house prices. The yuan was largely unmoved by the sweep of data. Part of the stasis is due to the day's big releases stateside. The June update on U.S. consumer prices is clearly critical to Federal Reserve thinking on whether tariff rises are aggravating the inflation picture enough to keep interest rates on hold - despite an almost daily insistence by Trump that rates should be cut by more than 3 percentage points. Trump once again on Monday said Fed rates - now held in a 4.25-4.50% range - should be 1% or less. Adding a new line of pressure on the central bank, White House officials stepped up pressure on Chair Jerome Powell over what they claim were serious cost overruns in the bank's renovation of its headquarters. The CPI release is expected to show the core annual inflation rate picking up pace last month to 3.0% - well above the Fed's 2% target. Edgy U.S. Treasury yields slipped back a touch ahead of the report, with 30-year bond yields retreating from the 5% mark. The dollar index also slipped back slightly. Japanese debt concerns alarmed in the background, however. The 30-year JGB yield jumped to a record 3.20%, while 20-year yields soared to their highest since November 1999 at 2.65% and 10-year yields scaled the highest since October 2008. Investors in Japanese bonds are bracing for a potential power shift in upper house elections this weekend that could strain the country's already frail finances. Before we see the U.S. inflation update today, the U.S. second-quarter earnings season kicks into gear with the big U.S. banks reporting - likely flattered by the burst of financial market trading revenues during the turbulent three months despite still subdued investment banking activity. Elsewhere, crude oil prices fell back further after Trump's lengthy 50-day deadline for Russia to end the Ukraine war and avoid sanctions eased immediate supply concerns. Oil prices had climbed in anticipation of sanctions both on Russia and countries buying oil from Moscow, but gave up gains as traders doubted the U.S. would actually impose steep tariffs on third countries. European stocks pushed higher, meantime, even after the weekend's 30% U.S. tariff threat on imports from the region. Aircraft, machinery, cars, chemicals and medical devices are the leading big-ticket items on the latest list of U.S. goods the European Commission has proposed to impose tariffs on if talks with Washington do not yield an agreement on trade. But European ministers meeting in Brussels on Monday remained convinced they can bring Trump back from the brink before his Aug. 1 deadline and reach a deal that would keep the $1.7 trillion two-way trading relationship broadly intact. And German investor morale rose more than expected this month, the ZEW institute said, reporting an increase in its sentiment index to 52.7 points from 47.5 points in June. In Britain, set piece speeches from finance minister Rachel Reeves and Bank of England boss Andrew Bailey are awaited later. Reeves announced a push on Tuesday to get more savers to invest in company shares as part of a wide-ranging set of initiatives to boost Britain's financial services sector. Britain's blue chip FTSE 100 briefly topped 9,000 points for the first time earlier and the pound steadied. Bitcoin recoiled back below $120,000 on Tuesday after a roaring start to the week saw it hit a new record of $123,153 the day earlier. Chart of the day Major U.S. banks are expected to report stronger profits later on Tuesday, driven by buoyant trading and a modest rebound in hobbled investment banking activity. JPMorgan Chase, Citigroup and Wells Fargo kick off second-quarter earnings on Tuesday with a focus on their outlooks at a time when economic uncertainty over U.S. tariff policies remains high. While there has been some stirring in investment banking in the second quarter, global banks, including top U.S. lenders, are expected to report a 10% gain in markets revenue due to the volatility around shifting U.S. tariff policies. Citigroup's stock leads the pack after a rollercoaster start to 2025. Today's events to watch * U.S. June consumer price report (8:30 AM EDT); Canada June consumer prices (8:30 AM EDT) * U.S. corporate earnings: BlackRock, JPMorgan, Citigroup, Bank of New York Mellon, Wells Fargo, State Street, Omnicom, JBHunt * Federal Reserve Vice Chair for Supervision Michelle Bowman, Fed Board Governor Michael Barr, Dallas Fed President Lorie Logan, Boston Fed President Susan Collins and Richmond President Thomas Barkin all speak * Bank of England Governor Andrew Bailey and finance minister Rachel Reeves address City of London at annual Mansion House dinner Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. Want to receive the Morning Bid in your inbox every weekday morning? Sign up for the newsletter here. You can find ROI on the Reuters website, and you can follow us on LinkedIn and X. (by Mike Dolan; editing by Hugh Lawson.) 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Nvidia CEO Jensen Huang says 'we don't have to worry' about the Chinese military using US chips to improve their capabilities because 'they simply can't rely on it'
When you buy through links on our articles, Future and its syndication partners may earn a commission. Nvidia CEO Jensen Huang sat down with CNN's Fareed Zakaria on Sunday to discuss a variety of issues, including the ongoing AI race between the US and China. Zakaria asked Huang about the previous bipartisan consensus regarding the restriction of high-end AI hardware to China, and to speak towards his previous comments that the sanctions had backfired against American companies. "Depriving someone of technology is not a goal, it's a tactic. And that tactic was not in service of the goal", said Huang (via Bloomberg). "We would like the United States to be the world leader [in AI], there is nothing wrong with that aspiration, and we should definitely try to achieve that, and strive for that." "Our mission, properly expressed... in order for America to have AI leadership", Huang continued, "is to make sure the American tech stack is available to markets all over the world, so that amazing developers, including the ones in China, are able to build on [the] American tech stack." When asked by Zakaria whether this could potentially provide the Chinese military and intelligence services with "the capacity to supercharge their weapons with the very best American chips", Huang responded: "We don't have to worry about that, because the Chinese military, no different [to] the American military, will not seek each other's technology out to be built on top of it. They simply can't rely on it. It could, of course, be limited at any time" "Not to mention, there's plenty of computing capacity in China already. If you just think about the number of supercomputers in China, built by amazing Chinese engineers, that are already in operation." "They don't need Nvidia's chips, certainly, or American tech stacks, in order to build their military." Huang is scheduled to hold a media briefing in Beijing on July 16, his second visit this year after an earlier trip in April where he said he hoped to "continue to cooperate with China." However, US republican senator Jim Banks and democratic senator Elizabeth Warren have sent a letter to Huang ahead of his trip, asking him to abstain from meeting with representatives of companies that are working with the People's Republic of China's military and intelligence bodies. "We are worried that your trip to the PRC could legitimize companies that cooperate closely with the Chinese military or involve discussing exploitable gaps in US export controls", the letter warns. The visit also comes in the wake of reports that China is currently constructing massive data centres to house over 115,000 Nvidia AI GPUs. This would appear be in direct contradiction of current US/China chip export restrictions surrounding high-end AI hardware, although it's unclear how the GPUs in question would be acquired. The Trump administration's AI czar, David Stacks, has previously called for a relaxing of Biden-era regulations surrounding American-made AI chips, while an executive order regulating the developments of AI tools, software, and models was nixed early into Trump's current tenure. Certainly, the Trump administration appears to look more favourably upon AI and AI hardware than the previous US government, so perhaps it's not unthinkable that the two countries could share AI developments (and chips) to their mutual benefit in years to come. That being said, the US hit China with some of the largest trade tariffs of the lot at the start of the year, with little sign of let-up in recent months. So, whether Jensen's calming words might help lead to better technological relations between the two, or perhaps even a retraction of existing chip sanctions in the near future, is anyone's guess for now. 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
