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Chinese exporters accuse Trump of not playing by the rules

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Chinese export companies have strongly criticized President Donald Trump for deciding to increase tariffs on imports into the US by another 10 percent, bringing them up to 25 percent for hundreds of billions of dollars’ worth of manufactured goods.

Comments reported by the South China Morning Post say Chinese exporters are decrying Trump as a business “killer” who “never plays by the rules”.

One exporter, Liao Yu, who produces bags and suitcases, said: “A 25 per cent [tariff] will kill everyone.”

[Read more…] about Chinese exporters accuse Trump of not playing by the rules

Ekso Bionics in $100 million joint venture to develop the exoskeleton market in Asia

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Ekso Bionics, Inc. is to establish a joint venture to develop and serve the exoskeleton market in China and other Asian markets and to create a global exoskeleton manufacturing centre.

It will partner with Zhejiang Youchuang Venture Capital Investment Co., Ltd (ZYVC) and Zhejiang Silicon Paradise Asset Management Group.

The joint venture will develop, sell and support exoskeleton products into China, Hong Kong, Singapore, and Malaysia, and will be capitalized at greater than $100 million over its term.

[Read more…] about Ekso Bionics in $100 million joint venture to develop the exoskeleton market in Asia

Nidec to build $500 million facility in China to make motors for electric vehicles

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Industrial motors giant Nidec is planning to build a $500 million facility in China, according to a report on Nikkei.

The factory will specialize in manufacturing motors for electric vehicles, a growing market in China and the rest of the world.

The proposed location is said to be the Jinpu New Area in the port city of Dalian, north-east China, about 500 km east of Beijing.

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Trump to raise tariffs on China goods to 25 percent

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US President Donald Trump is preparing to raise tariffs on Chinese imports to 25 percent from the current 15 percent.

The levies will affect approximately $350 billion worth of Chinese exports to America.

Trump made the announcement through Twitter. He tweeted: “For 10 months, China has been paying tariffs to the USA of 25 percent on $50 billion dollars of high-tech, and 10 percent on $200 billion of other goods.

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ABB to install 300 painting robots at leading Chinese automaker’s facility

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ABB has signed a formal agreement to install 300 painting robots at a leading Chinese automaker’s facility.

The agreement with SAIC Volkswagen is to provide robotics painting solutions for the first New Energy Vehicle factory of the Volkswagen Group based on the Modular Electric Driver Kit, an automotive platform specifically designed for the mass production of electric vehicles.

Financial details were not disclosed. [Read more…] about ABB to install 300 painting robots at leading Chinese automaker’s facility

Super Micro to avoid Chinese components amid US-China trade war

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Super Micro Computer, one of the world’s largest server manufacturers, has decided to avoid using components manufactured in China, according to a report on Nikkei.

Nikkei reports that Super Micro has instructed its suppliers to move production out of China.

Super Micro says the move is a consequence of the trade dispute between the US and China, in which security concerns raised by the US have also affected other Chinese companies such as Huawei.

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WeRide to launch first commercial autonomous taxi service in China

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A startup called WeRide is set to become the first company to launch a commercial autonomous taxi service in China, according to a report on Nikkei.

WeRide is developing Level 4 technology, which is “full autonomy with human”, and is the second-highest level of autonomy, or L5, on engineering association SAE’s list.

WeRide will demonstrate its L4 sensor suite and pre-commercial solutions during the Nvidia GPU Technology Conference, scheduled for late June.

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NXP teams up with Hawkeye in Chinese automotive radar market

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NXP Semiconductors N.V. has announced a new strategic collaboration and investment agreement with Hawkeye Technology Co., Ltd, a company at the forefront of the Chinese automotive radar sector.

Hawkeye will bring its 77GHz expertise, a team of engineers and a lab complex within Southeast University in Nanjing, China.

Together, the two companies will form a reference design collaboration that uses top engineering talent at Southeast University and NXP’s longstanding radar expertise, to create NXP-based reference designs for the Chinese automotive market.

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Toyota premieres own-brand battery electric vehicles

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Toyota unveiled its C-HR and IZOA battery electric vehicles (BEVs) on the opening day of Auto Shanghai 2019.

The C-HR and IZOA will be the first BEVs to launch in China under the Toyota brand. Sales of the new models are expected to start from 2020.

Toyota also displayed other electrified vehicles, such as hybrid electric vehicle (HEV) variants for the RAV4 and the Alphard/Vellfire in China, as well as the Corolla and Levin plug-in hybrid electric vehicle (PHEV) series, launched in March 2019.

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$700 billion spent on mergers and acquisitions in industrial sector

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Almost $700 billion was spent on mergers and acquisitions in industrial sector last year, according to a study.

Research from global management consultancy A.T. Kearney has found that the total value of deals in the industrials market has risen to $680 billion in 2018, an increase from $662 billion the year before.

A.T. Kearney’s Industrials M&A Report 2019 analysed over 76,000 global transactions between 2009 and 2018 and found that the trend towards so-called ‘megadeals’ is set to continue.

2018 alone saw more than 100 individual deals worth over $1 billion, and seven of those transactions topping the $10 billion mark – including significant deals such as United Technologies’ $30+ billion takeover of avionics supplier Rockwell Collins and the intra-UK $12.1bn deal between Melrose Industries and GKN. [Read more…] about $700 billion spent on mergers and acquisitions in industrial sector