What is it?Annual capacity of the car manufacturing factory that Tesla is reportedly planning to build in China.
Why is it important? This would be Tesla’s first major expansion beyond US, and comes at a time when US and China are fighting an escalating trade war; and when US president Donald Trump is openly antagonistic towards companies that are moving manufacturing outside US. He slammed Harley Davidson, America’s iconic motorcycle manufacturer for its offshoring plans. Meanwhile, China is opening up even further for FDI. It is expected to stop requiring foreign companies to have a local partner later this year, which would allow Tesla to own the factory 100%.
Tell me more: China is an important market for Tesla, accounting for 17% of its revenues in 2017. China is also fast emerging as a market for next generation of cars. Recently, it allowed Daimler to test its self driving cars in Beijing.
What is it?Operating margins of Tata Consulting Services in the first quarter of 2018-19
Why is it important? The margins are up by more than a percentage point and a half compared same period last year, but shrank by 40 basis points from the previous quarter. It performed better than expectations, thanks in part to a recovery in banking, financial services and retail vertical. It posted a net profit of $1.07 billion in the quarter.
Tell me more: Revenues from India shrank by about 1%, while growth in North America grew at its fastest pace in over three years.
What is it?The rate at which India’s investment in clean energy went up in the first half of 2018 (to $7.4 billion), according to a report by Bloomberg NEF.
Why is it important? These investments will help the country move towards its goal of installing 175,000 megawatts (MW) of renewable energy capacity by 2022. In 2017-18, the country generated one lakh gigawatt hours of renewable energy for the first time.
Tell me more: Bloomberg NEF report said that in the last few years, the balance has shifted from Europe as largest clean energy investing region to Asia. Asia’s clean energy investments is mostly driven by China, which invested 17.6 billion in wind, and $35.1 billion in solar in the first half.
What is it?Number of states that got over 95% score in the ease of doing business ranking released by the government
Why is it important? The list published by Department of Industrial Policy and Promotion ranks the states and union territories based on 372 action points and feedback from businesses. Andhra Pradesh and Telangana topped the list, followed by Haryana, Jharkhand and Gujarat. Five states, Manipur, Sikkim, Arunachal Pradesh, Lakshwadeep and Megalaya scored less than 1%.
Tell me more: This is the third edition of the list, and was published ahead of World Bank’s Ease of Doing Business, which ranks 190 countries. India was ranked 100 in 2017.
What is it?The number of passenger vehicles sold in June 2018 in India
Why it’s important? The sales are up 37.54% year on year, the fastest growth in nearly 9 years. This is thanks to a low base resulting from uncertainty over Goods and Services Tax last year and indicating that the growth rate is not sustainable. Three wheeler sales and two wheeler sales were up 55.89% and 22.28% year on year.
Tell me more: The data, released by Society of Indian Automobile Manufacturers, showed Maruti Suzuki leading the pack. Passenger car sales were up 34.21% y-o-y to 1,83,885 units. Exports declined 7.37%.