up as india buys up, huge quantities of cheap russian oil, a free trade deal between the 2 countries, edges closer. our correspondent in delhi has the latest. this is the w business. i'm kate ferguson. thanks for joining me. the shanghai auto show has kicked off and it's electric vehicles that are grabbing the spotlight. following years of state investment, china is leading the way in electric mobility with domestic brands out pacing competitors, including german bam, off like forks, fog, and b, m, w. our reports are 5 in customer is there he sent us this report. this whole showing of electric cars is crowded with visitors. the majority of cars sold in shanghai are now electric, and that's reflected in the city's motor show. we have to offer shanghai, we're both traditional comment pictures as well as new brands of presenting the latest model to the public. most of them being electric cars in the sector, in china already by far, the largest in the world. and it's transforming the whole kind of through here,

chinese domestic companies and out selling the international rival. for years, the chinese government has been investing billions of dollars to help its domestic industry grow. the biggest winner so far has been a change in bass b y d, a former battery producer, turned car maker with competitive pricing due to an integrated supply chain. it's cars are now the 1st choice for chinese customers. and their flashy design helps to china's cardia. zine has experienced very big progress in the past 10 years. now. chinese brains own pub with foreign brands. in the 1st quarter of 2023, b y, d even over took previous market leader folks fagen, which held the pole position for roughly 3 decades in china. and while the germans are still making profits selling combustion engine cars, they merely hold a 2.7 percent market share in the booming e v segment. to catch up v w. now once again,

promising to double down on the chinese market, it's spending a 1000000000 euros on a new innovation center there of it. now it's all about increasing the speed of the cost and for payment system and improve the user experience. you can only do that in china for china. you can no longer develop that in europe and bring it here. it doesn't work. the competition at faces is fierce. one of the w's main rivals is neo founded less than 10 years ago. the shanghai based company is presenting itself as a hip start up attracting customers with an active user community and comprehensive service. that's a concept with which neo, now wants to enter the european market to, despite the geopolitical tensions between china and the west. the think a good s for the international political situation. this is what companies need to face, woman, but from our point of view,

we will pay attention to this matter. but we do not worry too much about it. all right? we decided that we will focus on our own products and services, and of course we will abide by every country's policies go to a bigger screen. but for all its successors, neo like most chinese evie makers has yet to achieve profitability. now china's success an electric mobility does of course have a lot to do with the availability of state subsidies over in the united states. president o biden is also keen to promote greener mobility is $430000000000.00 inflation reduction act includes generous subsidies for companies that produce electric vehicles and batteries on us file. here's our washington correspondent carleen at tin. i describing how much of a lower the policy is prefer proving for international companies. this is why more and more car producers are considering shifting their production and or their

assembly procedure to the united states. like for example, t r from south korea or salenti, it's from the netherlands. but also adi with volkswagen might consider relocation from their protection plans to the united states to benefit from i r a policies. so foreign companies are certainly selling big interest in those subsidies. but how easy is it to access them? well, 1st of all, they have to fulfill 2 big criteria. the final assembly of cars must take place in north america, and at least 50 percent of the battery components must be made there too. now when it comes to german car maker as b, m, w, mercedes and forks, fog, all ready have production fights in the us. but b and w, the batteries don't meet the requirements and mercedes is cars are too expensive to be eligible for tax credits. folks, bug and electric, s u v. the id for which is manufactured in chattanooga. it does qualify.

now let's talk more by the state of the race towards electric mobility with auto industry analyst payoff. pay to us, lovely to have you. there you are paid. thank you very much for having me. take the i've heard the iceland being made that the like the fog fog b m w and mercedes are resting on their laurels a little bit because they're still making a whole lot of money out of the combustion engine. is a substance flat criticism. oh, right. on the judge that generally speaking of the automotive industry are they were usually successful over the past 100 years miss the internal combustion engine . right. and this success that now turns a little bit into a curse because you have that you do, you could, you tend to continue to do the stuff you are great. and now, as the internal combustion engine has ruled, the, the 3rd, the world for a century, and now something newer, something better, way more efficient is coming up. and also we should not than the auto industry has

no says and under has understood this. but we also should see, are there that challenge of sedition auto industry has in going all electric because it requires a lot of investment. and unlike our new start ups, right, where are who, who, who berg grant at the grace period, right? to be profitable. the traditional auto industry, they need to continue the lever great profits and results, and for them it is a little bit like fixing a car while it is speeding on the highway. that's an excellent analogy, and they to another big issue is of course, the access to raw materials and in this area, chinese carmakers really have the advantage don't they? i think it deserves a little bit of a balanced view on that. if they look on to an electric motors, for example, you have heard about rare earth, right where china has a dominant position in the bold market. that's just one part of the story. but the, you can navigate the round them by choosing specific construction methods for

electric motor. if you look at battery than one content, well this is a chinese plate because the largest, the largest suppliers are chinese. but if you look at the venue chain for batteries, the picture is a little bit differentiated because the raw materials, right? they are coming from countries like australia, canada jelly, and so on, right? but what china has is a large part of the refinery of to production chain. and this is for a c, or c, a position. what other countries america, u. s. or other continents need to need to manage and, and need to me to put on the plan how to deal with this situation. all right, peter vinto. thank you very much. russia and india are in advance. talk to sign a free trade deal as commercial dealings. thor, following russia's war and ukraine. india's imports from russia almost quadruple to $46000000000.00 over the last year to largely to make john in oil purchases.

according to the reuters news agency, the deer would enable russia to import more than $500.00 products from india, including cars, aircraft, and train all key to maintaining russia's war efforts. boosting trade with asian countries like india and china is a key part of moscow fussy to cushion the blow of western sanctions. to find out more by this, let's bring in detail the corresponding child cart k in delhi tiro is this all just about cheap oil. when it is definitely the biggest piece of that picture, but then the thing is, what i'm saying is that it talks for a free trade agreement had been going on between india and not just russia, but the you ration, economic union for a long time. in fact, what in things that these talks had been going on since before the ukraine was even before the pandemic, and these talks were sort of interrupted by the pen demik. and so what you said is that it would light, these talks will be resumed. now both countries had

a bilateral trade target of about $30000000000.00 by 2025. and what they are saying is that they have met this target and exceeded this target rather much before time . but what it has resulted in is a trade in balance, which is not any deals favor and india would want that to be corrected. that's what india's concern is at this point of time. kate. ok, so this has been a long time in the making, but we all the talk recently about how india wants to wrap. sorry, ramp of its military exports. is it, i'm russia of a marcus. well, of kate, there's a long list of products that india is interested in talking about for a spot is increasing. it's exposed to russia is concerned defense really doesn't figure on, on the top of that list. i mean, what in the foreign minister said is that there are various products and services that russia would be looking at. these include automobiles and spare parts, electronic goods, medical devices, or even solar photovoltaic models, textiles,

food and agricultural products. so these are the kind of products or the areas where india would want in the russian cooperation to to do expand and india to benefit and the trade and balance to be corrected. kate. now the timing of this is quite interesting to india is also talking to the u. k. about a free trade agreement. it's decision to cozy up to moscow will not go down well in london. does india care? well, kate, i mean it could definitely it's, it's a tricky matter for india, but, you know, we have seen into, has been doing this tightrope walk ever since the ukraine war began the western countries including the u. k. we know they have not been happy within the us dance, and all these countries, including the u. k. b, have conveyed on several occasions that they are not happy. but then there's appears to be pretty confident in the, in its assumption that a given the fact that none of the western countries have not sort of penalized in

the are not taking any extreme action against india. so india perhaps is confident that of when it goes on intensifying its straight relationship with russia. it's relationship with the western countries will also not be jeopardized because they probably understand the various forces at play and. and then that could be behind the timing of the smooth kid. all right, tara kite k in delhi. thank you very much. and a reminder of our top story. the shanghai also show has kicked off on its electric vehicles that are grabbing the spotlight following years of state investment, china is leading the way in electric mobility with domestic brands. i've pacing competitors, including germany's outside and the m w. and that wraps up our show for more you can always log on to t, w dot com slash business roll on the dw youtube channel to check us out there for me on the entire business team here in berlin. is the vine

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