Arvind's Newsletter

1.India Likely To Witness Normal Monsoon In 2024

Skymet Weather Services Pvt. said on Tuesday that this year's southwest monsoon, which lasts from June to September, would likely be normal. The private weather forecasting agency estimates it to be around 102% of the long-term average, with a margin of error of 5% on either side. The spread of normal monsoon is between 96% and 104% of the long-period average.

It has forecasted good rainfall in the south, west, and northwest of India. However, places like Bihar, Jharkhand, Odisha, West Bengal and the northeast might experience lower-than-normal rain during the peak monsoon months.

Rainfall in June is expected to be around 95% of the LPA, with July seeing about 105%. These estimates come with probabilities of being normal, above normal, or below normal, it said.

Interestlingly, the India Meteorological Department announced that the country is expected to encounter extreme weather conditions this year. Above-normal maximum temperatures are predicted over much of the country, from April to June.

Read more at: https://www.ndtvprofit.com/nation/india-likely-to-witness-normal-monsoon-in-2024-skymet-weather

2.Hyundai,Kia partner with Exide Energy Solutions for EV battery localisation in India

As South Korean automaker Hyundai revs up its electrification plans in India, the company, along with group firm Kia Corporation joined hands with battery maker Exide Energy Solutions to localise their electric battery production.

Hyundai Motor and Kia aim to localise their EV battery production, specifically focusing on lithium-iron-phosphate (LFP) cells in line with the expansion of their EV plans for the Indian market.

3.India’s electric rickshaws are leaving EVs in the dust, reports Rest of World

Even as India awaits its first Tesla, these humble e-rickshaws are powering an EV revolution in the country. In the last decade, around 1.73 million three-wheeler EVs have been sold in India. Just last month, around 500 manufacturers — most of them homegrown — sold over 44,000 e-rickshaws, compared to less than 6,800 electric cars sold during the month.

In 2023, YC Electric, a little known e-rikshaw manufacturer from New Delhi, alone sold over 40,600 e-rickshaws, while 82,500 electric cars were sold in the country.

Unlike the four-wheeler and two-wheeler industries, which are controlled by popular brands like Tata, Ola, and Ather Energy, three of the top five brands in the e-rickshaw segment — YC Electric, Dilli Electric Auto, and Saera Electric — have little to no brand recall. 

4.Total Solar Eclipse

A total solar eclipse passed over North America yesterday, with almost 32 million Americans living in its path. It marks the last total solar eclipse visible in the US for the next 20 years.  

The event happens when the moon passes directly in front of the sun. Since the moon’s orbit is elliptical, its distance from Earth varies, dictating how much of the sun will be covered. A total solar eclipse—where the moon is close enough to entirely block the sun—happens roughly every 18 months but is often only visible from the open ocean or difficult-to-access areas.

Millions of Americans travelled across the US for a chance to see a total solar eclipse. Airbnb rentals have booked up along prime viewing locations, while others will have a chance to see a partial eclipse.

Onlookers were urged to wear eclipse glasses, which are at least 1,000 times darker than sunglasses, to protect their eyesight.

5.Oil prices topped $90 and analysts said they could soon reach $100, driven in part by fears of a prolonged Middle East conflict as well as improving global economic projects driving a broader commodities boom. Not good news for Indian economy.

Oil prices have risen nearly 20% this year, whereas copper and gold have gain round 10%, with further increases expected as demand for goods in both the U.S. and China propels the cost of raw materials.

One investor who bought small quantities of oil and gold to hedge against inflation told The Wall Street Journal the gains had helped his portfolio but he had no plans to sell: “We want to catch the wave. You do not want to get off too early.”

6.Brain Implants Trial

Brain implant startup Synchron announced yesterday it is recruiting dozens of patients for its first large-scale clinical trial. Backed by Jeff Bezos and Bill Gates, the New York-based company is further along than Elon Musk’s Neuralink in the process of full Food and Drug Administration approval.

About 1.7% of the US population, an estimated 5.4 million people, live with some form of paralysis. Like Neuralink, Synchron seeks to help paralysis patients with texting, typing, and operating smart home devices. It received an exemption from the FDA in 2021 to begin human tests—two years ahead of Neuralink—and has implanted its device in six US patients and four Australian patients. Last month, Musk released a video showing its device being used in its first patient. 

The two devices are input differently into the body: Neuralink is implanted directly into the cerebral cortex region of the brain; Synchron is inserted through the jugular vein and sits at the large vein next to the brain’s motor cortex. To communicate with external devices, it connects to an antenna placed under the chest's skin. See a TED Talk from Synchron's founder vide below link.

7.The U.S. expanded its efforts to incentivize foreign firms to make advanced semiconductors domestically. 

The Biden administration announced $6.6 billion in funding on Monday for Taiwan Semiconductor Manufacturing Company, the world’s largest chip maker, to build three facilities in the state of Arizona. And next week, it is set to unveil subsidies totalling over $6 billion to Samsung so the South Korean tech giant can construct four chip facilities in Texas, Reuters reported. The funding, a major part of Biden’s domestic economic reelection pitch, is “designed to both secure U.S. supply chains and outgun China’s tech investments.”

8.Taiwanese groups consider overseas headquarters to hedge against Chinese attack, reports Financial Times

Several large Taiwanese manufacturers are considering setting up a second headquarters overseas to ensure they can keep operating in the event of a Chinese attack on their country.

The plans, which remain preliminary in most cases, highlight how global efforts to secure supply chains are forcing companies that play a vital role in manufacturing networks, especially for tech products, to make extensive changes.

The groups are in manufacturing [and] currently looking for a location for a second headquarters in south-east Asia, just in case an emergency happens in Taiwan, to give them an alternative command system abroad that they can immediately activate.

Taiwanese contract manufacturers have for decades formed the backbone of global supply chains for electronic devices and their components, including personal computers, smartphones, servers and telecom networking gear. They are also increasingly penetrating markets for industrial automation, medical devices and electric vehicles.

According to several people involved in the deliberations, companies exploring options for a second headquarters abroad include Lite-On and Qisda, which make electronic components and devices for consumer, telecoms, automotive and medical applications.

China claims Taiwan as part of its territory and threatens to annex it if Taipei resists unification indefinitely. Although Taiwanese experts consider a Chinese attack unlikely in the near term, increased pressure from Beijing and military intimidation tactics have led many foreign companies and customers of Taiwanese groups to initiate some contingency planning.