Overnight Russian aerial attacks on Ukraine’s Odesa region killed at least seven people, authorities reported early Saturday.

Russia-Ukraine war: Seven killed in Russian drone attack on Odesa

In the shattered town of Orikhiv not far from the southeastern front in Ukraine, Svitlana, a grandmother, sleeps in the brick-walled basement of her apartment block where she lives with her husband to shelter from Russian bombs.

Russia-Ukraine war: Residents of Ukraine's Orikhiv try to survive in the ruins

Russian forces recently employed the Piranya 10 (Piranha) unmanned aerial vehicle (UAV) to destroy the first US M1 Abrams tank donated to Ukraine. The Simbirsk Design Bureau in the Russian city of Ulyanovsk was responsible for developing the drone.

Russia's 'Piranha 10' drone specs: Decoded

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Electric vehicles (EVs) have taken center stage in the automobile world, captivating headlines and intriguing financial experts who see them as the next industry disruptor.

As the global shift towards electrification gains momentum, governments worldwide are throwing their weight behind EVs, recognizing their pivotal role in achieving zero emissions targets. This support has also ignited massive investments into the promising EV sector.

However, beneath the positive narrative lies lingering complexities. Despite resounding endorsements from governments, environmental advocates, and industry players, doubts cast a shadow of uncertainty over the core identity and trajectory of EVs.

To unravel this narrative, we delve into the global rush of EV investments, the concerns surrounding lithium batteries, and the challenges faced by the automobile industry as it navigates the delicate balance between expanding the EV market and maintaining profit margins.

Global Odyssey of EV Investment

As the automobile industry undergoes a seismic shift, EVs have emerged as the avant-garde, prompting worldwide market players to ramp up capital expenditure for portfolio diversification. A titan in this domain, Tesla, dominates by virtually selling every vehicle it manufactures. Its empire expands across six colossal gigafactories, with a newly confirmed Mexican counterpart driving CEO Elon Musk's audacious vision of manufacturing a staggering 20 million cars annually.

Across continents, China's automotive heavyweight BYD, with the backing of Warren Buffet, transitions from domestic triumph to international conquest. In 2022, it shipped a resounding 56,000 vehicles and announced a $1 billion plan for EV and battery construction in India.

In sync with the electric revolution, India takes the stage with strategic initiatives like FAME India and PLI schemes, bolstering local EV production. Notably, Tata Group's headline-grabbing investment of $4 billion in a UK EV battery plant for Tata Motors and Jaguar, coupled with an additional $2 billion infusion over five years, paints an electrifying future.

Unsettling concern at the heart of EV's Power: the Lithium

EV batteries, powered by lithium (Li) ion chemistry, play a key role in the world of electric vehicles and renewable energy storage. However, these Li batteries pose a recycling challenge, costing more to recycle than to mine fresh lithium. While this isn't an immediate issue, as EV demand surges, recycling urgency will reverberate through industries.

Furthermore, the concern extends beyond recycling -- mining lithium for batteries comes with a hefty environmental price tag. Extracting metals for Li batteries guzzles a whopping 500,000 gallons of water per tonne of lithium. As EVs surge for a cleaner future, the question arises: Can we curb carbon emissions without leaving a massive environmental footprint in our wake?

Cautious approach in the time of EV expansion

In this persistent uncertainty surrounding the EV market, some players remain conservative. Toyota, for instance, has drawn enough scrutiny for its measured approach to EV expansion. They challenge an all-electric future, citing global variations in adoption rates due to costs and infrastructure gaps. A conservative stance also allows companies to concentrate on well-established markets still dominated by internal combustion engines.

However, prudence doesn't come without trade-offs. Forward-thinking players enjoy cost advantages and economies of scale as EV demand skyrockets. Waiting may hedge risks, but it might also mean forfeiting opportunities to diversify and cater to evolving consumer preferences. Lalit Singh, CEO of TelioEV, advocates for a harmonious blend of caution and foresight, a pivotal formula for triumph in the ever-shifting automotive terrain.

Expensive EV at the cost of sustainable future

Going deeper into this subject, the main hurdle faced by electric vehicles (EVs) is their high price. Although governments of various countries offer incentives to support sustainable goals, these incentives are often limited to a certain number of vehicles, so when these perks are removed, the once attractive EVs become unaffordable.

Recently, Tesla disclosed its investment plan for India, with an estimated starting price of 2 million rupees ($24,400.66). This is more than twice the cost of India's cheapest EV, the MG Comet, and half a million rupees more than the Tata Nexon EV, the country's top-selling EV. While EV prices are relatively lower compared to global offerings, Tesla's pricing approach has raised concerns.

EV makers adopting price cut strategy to increase sales

The hurdle of pricing has instilled hesitation among consumers considering EV adoption, compelling manufacturers to turn to price cuts. While this strategy aims to boost sales figures, it simultaneously exerts strain on company profits, causing concern among investors who view this development with cautious eyes as whether this approach efficiently accelerates sales is a challenging riddle to solve.

Major players like General Motors, Ford, Hyundai, and Toyota find themselves with over 90 days' worth of unsold EV inventory at current sales rates, casting a shadow of doubt over the effectiveness of price reduction alone.

"To drive EV adoption, cutting prices isn't enough. Companies must invest in tech, achieve economies of scale, and collaborate with governments for incentives. Highlight cost savings, improve charging infrastructure, and educate consumers on benefits. A balanced approach for affordable and sustainable," &nbsp;according to Singh.

Striking a Balance for EV triumph

The future of EVs is clearly cloudy amid the current technology shift. To boost efficiency and consumer confidence, EV manufacturers have to address charging infrastructure shortages and supply chain issues.

Moreover, Singh suggests that consumer education, supportive policies, and collaborations can accelerate EV adoption. Emphasising recycling, integrating autonomous driving, and ensuring reliability will enhance the sector's success amid the evolving landscape. Continuous monitoring of industry trends is crucial for informed decision-making.

&nbsp;

WATCH WION LIVE HERE

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Electric vehicles (EVs) have taken center stage in the automobile world, captivating headlines and intriguing financial experts who see them as the next industry disruptor.

Electric vehicles (EVs) have taken center stage in the automobile world, captivating headlines and intriguing financial experts who see them as the next industry disruptor. As the global shift towards electrification gains momentum, governments worldwide are throwing their weight behind EVs, recognizing their pivotal role in achieving zero emissions targets. This support has also ignited massive investments into the promising EV sector. However, beneath the positive narrative lies lingering complexities. Despite resounding endorsements from governments, environmental advocates, and industry players, doubts cast a shadow of uncertainty over the core identity and trajectory of EVs. To unravel this narrative, we delve into the global rush of EV investments, the concerns surrounding lithium batteries, and the challenges faced by the automobile industry as it navigates the delicate balance between expanding the EV market and maintaining profit margins. Global Odyssey of EV Investment As the automobile industry undergoes a seismic shift, EVs have emerged as the avant-garde, prompting worldwide market players to ramp up capital expenditure for portfolio diversification. A titan in this domain, Tesla, dominates by virtually selling every vehicle it manufactures. Its empire expands across six colossal gigafactories, with a newly confirmed Mexican counterpart driving CEO Elon Musk's audacious vision of manufacturing a staggering 20 million cars annually. Across continents, China's automotive heavyweight BYD, with the backing of Warren Buffet, transitions from domestic triumph to international conquest. In 2022, it shipped a resounding 56,000 vehicles and announced a $1 billion plan for EV and battery construction in India. In sync with the electric revolution, India takes the stage with strategic initiatives like FAME India and PLI schemes, bolstering local EV production. Notably, Tata Group's headline-grabbing investment of $4 billion in a UK EV battery plant for Tata Motors and Jaguar, coupled with an additional $2 billion infusion over five years, paints an electrifying future. Unsettling concern at the heart of EV's Power: the Lithium EV batteries, powered by lithium (Li) ion chemistry, play a key role in the world of electric vehicles and renewable energy storage. However, these Li batteries pose a recycling challenge, costing more to recycle than to mine fresh lithium. While this isn't an immediate issue, as EV demand surges, recycling urgency will reverberate through industries. Furthermore, the concern extends beyond recycling -- mining lithium for batteries comes with a hefty environmental price tag. Extracting metals for Li batteries guzzles a whopping 500,000 gallons of water per tonne of lithium. As EVs surge for a cleaner future, the question arises: Can we curb carbon emissions without leaving a massive environmental footprint in our wake? Cautious approach in the time of EV expansion In this persistent uncertainty surrounding the EV market, some players remain conservative. Toyota, for instance, has drawn enough scrutiny for its measured approach to EV expansion. They challenge an all-electric future, citing global variations in adoption rates due to costs and infrastructure gaps. A conservative stance also allows companies to concentrate on well-established markets still dominated by internal combustion engines. However, prudence doesn't come without trade-offs. Forward-thinking players enjoy cost advantages and economies of scale as EV demand skyrockets. Waiting may hedge risks, but it might also mean forfeiting opportunities to diversify and cater to evolving consumer preferences. Lalit Singh, CEO of TelioEV, advocates for a harmonious blend of caution and foresight, a pivotal formula for triumph in the ever-shifting automotive terrain. Expensive EV at the cost of sustainable future Going deeper into this subject, the main hurdle faced by electric vehicles (EVs) is their high price. Although governments of various countries offer incentives to support sustainable goals, these incentives are often limited to a certain number of vehicles, so when these perks are removed, the once attractive EVs become unaffordable. Recently, Tesla disclosed its investment plan for India, with an estimated starting price of 2 million rupees ($24,400.66). This is more than twice the cost of India's cheapest EV, the MG Comet, and half a million rupees more than the Tata Nexon EV, the country's top-selling EV. While EV prices are relatively lower compared to global offerings, Tesla's pricing approach has raised concerns. EV makers adopting price cut strategy to increase sales The hurdle of pricing has instilled hesitation among consumers considering EV adoption, compelling manufacturers to turn to price cuts. While this strategy aims to boost sales figures, it simultaneously exerts strain on company profits, causing concern among investors who view this development with cautious eyes as whether this approach efficiently accelerates sales is a challenging riddle to solve. Major players like General Motors, Ford, Hyundai, and Toyota find themselves with over 90 days' worth of unsold EV inventory at current sales rates, casting a shadow of doubt over the effectiveness of price reduction alone. "To drive EV adoption, cutting prices isn't enough. Companies must invest in tech, achieve economies of scale, and collaborate with governments for incentives. Highlight cost savings, improve charging infrastructure, and educate consumers on benefits. A balanced approach for affordable and sustainable," according to Singh. Striking a Balance for EV triumph The future of EVs is clearly cloudy amid the current technology shift. To boost efficiency and consumer confidence, EV manufacturers have to address charging infrastructure shortages and supply chain issues. Moreover, Singh suggests that consumer education, supportive policies, and collaborations can accelerate EV adoption. Emphasising recycling, integrating autonomous driving, and ensuring reliability will enhance the sector's success amid the evolving landscape. Continuous monitoring of industry trends is crucial for informed decision-making. WATCH WION LIVE HERE

Unveiling the electric vehicle revolution: Decoding the future beyond the hype

China's economy has shown&nbsp;further signs of weakness in the second quarter. The nation's GDP expanded by 0.8 per cent during April-June, compared with the previous quarter; and worryingly, youth unemployment has hit a record high. The latest data shows that the economy has missed growth expectations&nbsp;and consumers continue to remain cautious. As a result, Chinese policymakers are under increasing pressure&nbsp;to unveil a stimulus package for the world's second-largest economy.&nbsp;

Here is a look at the main storm clouds over China's economy.

Sluggish consumption

For almost 3 years, strict zero-Covid policies meant repeated lockdowns, the fear of being arbitrarily quarantined and other draconian health measures. When the restrictions were lifted at the end of 2022, millions flocked to restaurants, shopping malls and on long-awaited holidays. However, that optimism hasn't lasted, with the recovery running out of steam and the labour market under pressure.

Moreover, more than one in five young people is unemployed. As per China's National Bureau of Statistics, unemployment among Chinese youths jumped to a record 21.3 per cent in June. Overall, urban unemployment remained at 5.2 per cent.&nbsp;

Real estate crisis

Brick and mortar are a pillar of the Chinese economy. Property has long been seen as a safe bet for middle-class Chinese seeking to grow their wealth. The demand sent property prices soaring, while developers expanded at breakneck speed thanks to generous bank loans. But as the real estate companies' debts reached unsustainable heights, authorities pushed the brakes in 2020.

Since then, developers' access to credit has been considerably reduced. The most vulnerable entities are struggling to complete their projects, fuelling a crisis of confidence with potential buyers that is depressing prices.

China's central bank last week decided to extend its support for developers, notably through loan repayment extensions, until the end of 2024. The decision came after officials cut interest rates last month. Analysts say the measures are insufficient to save the sector.

Fear of&nbsp;looming deflation

For months, prices in China have been virtually flat. While on paper, this may seem like a good thing for purchasing power, a drop into deflation would pose a long-term threat. Instead of spending, consumers postpone purchases in the hope of lower prices.

And in the absence of demand, companies cut back on production, freeze hiring or lay off staff and agree to further price cuts to clear their inventories. It consequentially weighs on profitability as the companies' costs remain the same.

Chinese trade under threat

China, long described as the workshop of the world, remains highly dependent on exports, making it vulnerable to changes in the global economy. The threat of recession in the US and Europe, combined with galloping inflation, is weakening international demand for Chinese products. In June, exports fell for the second month in a row.

Geopolitical tensions

President Xi Jinping is seemingly struggling to navigate through geopolitical tensions. Tensions between China and the United States have also hurt the economic outlook.

Washington officials are working to de-risk their economy from China.

The US is working to tighten restrictions on semiconductor exports, and is pressuring allies to do the same. Last week, the Chinese customs spokesperson blamed outside forces having a direct impact on Chinese trade.

Debt burden on local authorities

Also dragging on the economy is the dire finances of some local authorities after three years of astronomical spending to combat Covid-19. The real estate crisis has deprived them of a major source of property income.

China's economy has shown further signs of weakness in the second quarter. The nation's GDP expanded by 0.8 per cent during April-June, compared with the previous quarter; and worryingly, youth unemployment has hit a record high.

China's economy has shown further signs of weakness in the second quarter. The nation's GDP expanded by 0.8 per cent during April-June, compared with the previous quarter; and worryingly, youth unemployment has hit a record high. The latest data shows that the economy has missed growth expectations and consumers continue to remain cautious. As a result, Chinese policymakers are under increasing pressure to unveil a stimulus package for the world's second-largest economy. Here is a look at the main storm clouds over China's economy. Sluggish consumption For almost 3 years, strict zero-Covid policies meant repeated lockdowns, the fear of being arbitrarily quarantined and other draconian health measures. When the restrictions were lifted at the end of 2022, millions flocked to restaurants, shopping malls and on long-awaited holidays. However, that optimism hasn't lasted, with the recovery running out of steam and the labour market under pressure. Moreover, more than one in five young people is unemployed. As per China's National Bureau of Statistics, unemployment among Chinese youths jumped to a record 21.3 per cent in June. Overall, urban unemployment remained at 5.2 per cent. Real estate crisis Brick and mortar are a pillar of the Chinese economy. Property has long been seen as a safe bet for middle-class Chinese seeking to grow their wealth. The demand sent property prices soaring, while developers expanded at breakneck speed thanks to generous bank loans. But as the real estate companies' debts reached unsustainable heights, authorities pushed the brakes in 2020. Since then, developers' access to credit has been considerably reduced. The most vulnerable entities are struggling to complete their projects, fuelling a crisis of confidence with potential buyers that is depressing prices. China's central bank last week decided to extend its support for developers, notably through loan repayment extensions, until the end of 2024. The decision came after officials cut interest rates last month. Analysts say the measures are insufficient to save the sector. Fear of looming deflation For months, prices in China have been virtually flat. While on paper, this may seem like a good thing for purchasing power, a drop into deflation would pose a long-term threat. Instead of spending, consumers postpone purchases in the hope of lower prices. And in the absence of demand, companies cut back on production, freeze hiring or lay off staff and agree to further price cuts to clear their inventories. It consequentially weighs on profitability as the companies' costs remain the same. Chinese trade under threat China, long described as the workshop of the world, remains highly dependent on exports, making it vulnerable to changes in the global economy. The threat of recession in the US and Europe, combined with galloping inflation, is weakening international demand for Chinese products. In June, exports fell for the second month in a row. Geopolitical tensions President Xi Jinping is seemingly struggling to navigate through geopolitical tensions. Tensions between China and the United States have also hurt the economic outlook. Washington officials are working to de-risk their economy from China. The US is working to tighten restrictions on semiconductor exports, and is pressuring allies to do the same. Last week, the Chinese customs spokesperson blamed outside forces having a direct impact on Chinese trade. Debt burden on local authorities Also dragging on the economy is the dire finances of some local authorities after three years of astronomical spending to combat Covid-19. The real estate crisis has deprived them of a major source of property income.

Decoded: 6 reasons why China's economy is struggling

In today's episode of the Good Life, we will decode the 'volumetrics' diet and answer if we can stay full on fewer calories. Watch this report to know all the details.

The Good Life | Decoding the 'volumetrics' diet: Can we stay full on fewer calories?

Do you love wearing your wrap dress? Does it make you feel sexy & confident? From its history to cultural significance, know why this simple clothing style has been ruling women's hearts for centuries.

Beyond the Runway | Wrap dress: Decoding the history of the everlasting fashion statement!

Do you love wearing your wrap dress? Does it make you feel sexy & confident? From its history to cultural significance, know why this simple clothing style has been ruling women's hearts for centuries. Only on WIONEWS.COM

Beyond the Runway : Decoding the history of Wrap Dress | WION Originals Teaser

Unidentified flying objects (UFOs) or unique airborne objects fascinate the world. Till now, several sightings of UFOs have been made. Some call it the proof of existence of extraterrestrial life, while say it's some natural phenomena. “Flying saucers”, which UFOs are usually referred to as, have inspired many Hollywood flicks. But the real question is, what do we know about UFOs? Let’s explore the answer.

Decoding UFOs: What do we know about ‘flying saucers’?

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