and that was our latin america corresponding nicole reese reporting from bobo, top before we go here is a quick reminder of the top story. we're falling for you at this hour. world's biggest space rocket has exploded minutes after take off the space, ex starship lifted off from the us state of texas, but the cap still failed to separate from the booster, causing a huge blast. that's all for me for now coming up next, k. ferguson has your business updates and all the latest from the shanghai auto show, june for that to undergo. really thank you so much for your company with guardians of truth. my name is john kinda and i have paid almost every price of being a journalist in a country like to keep taking on the powers that be they risk everything

john dunbar, asks activists, journalists and politicians living in exile with too much on my shoulders. but i have to hold this way because i'm responsible for the future fall country for the people who are behind the bus they leave for their mission. people need to know what is happening in our series guardians of truth watch, know on youtube, d. w documentary. ah, accelerating towards electric future will take you to the shanghai auto show where the world's biggest brands are vying to showcase their electric pro s. as china leads the way we ask our german car makers of stock in the slow lane also coming up as india buys up huge quantities of cheap russian oil and free trade

deal between the 2 countries. edges closer. our correspondent in delhi has the latest. this is d w business. i'm kate ferguson. thanks for joining me. the shanghai or her 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, pasting competitors, including german bam, off like folks b, m w. a report has been cut my 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 cities motor show. we have to offer shanghai, we are both traditional comment pictures as well as new brands of presenting the latest models to the public. most of them being electric cars in the sector, in china's 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 shown jen 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 the china's car design 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 and 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 p w. s. 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's. it's now it's all about increasing the speed of the carson for tainment 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 geo political tensions between china and the west. the think i wasn't as 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 countries policies for you. but for all its successors, neo like most chinese evie makers has yet to achieve profitability. now china success an electric mobility does of course have a lot to do with the availability of state subsidies over in the united states. president biden is also keen to promote greener mobility, his $430000000000.00 inflation reduction act includes general subsidies for companies that produce electric vehicles and batteries on u. f file. here's our washington correspondent, carolyn at in i describing how much of a lower the policy is both 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, kia from south korea or salenti from the netherlands, but also already 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 showing 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 makers, b, m w, mercedes, aren't forks, fog, all already have production fights in the us. but beyond w's batteries don't meet the requirements and mercedes is cars are too expensive to be eligible for tax credits. folks, douglas 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, vendor. pay to us lovely to have you. there you are. 88. thank you very much for having me. did i've heard the argument being made that the like the fog slog and 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 there substance law criticism? oh, right, no. the judge thought, generally speaking of the automotive industry or 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, 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,

and the auto industry has no says and under the heads understood this. but we also should see, are there the 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 our hoover grant at the grace period trying 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 few. and 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 play because the largest, the largest suppliers are chinese. but if you look at the venue chain for batteries, that picture is a little bit differentiating because the raw materials, while they are coming from countries like australia, canada jelly and so on, right? but what china has is a large bard of the refinery of to production chain. and this is for a c, or c, a position. what other countries america, usaa the continents need to need to manage and, and need to me to put on the plan how to deal with this situation. all right, pitiful, thank you very much. russia and india are in advance, talked to sign a free trade deal as commercial dealings floor following russia's war in ukraine. india's imports from russia almost quadruple to $46000000000.00 over the last year to largely to a big jump in oil purchases. according to the reuters news agency,

the deal would enable russia to import more than $500.00 products from india, including cars, aircraft, and train all key to maintaining rushes war efforts. boosting trade with asian countries like india and china is a key part of moscow rusty 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. charo is this oldest to buy cheaper oil. when it oil is definitely the biggest piece of that picture, but then the thing is what the thing is that talks for a free trade agreement had been going on between india and not just russia, but the u. region. 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 he 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 also talked recently about how india wants to wrap them. sorry, ramp of its military exports. is it, i'm russia, a marcus? well, 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, to expand and india to benefit and the treating 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, get, i mean it's definitely, it's a tricky matter for india, but, you know, we've seen into, has been doing this tightrope walk ever since the ukraine war began the western countries including the u. k. we know they've not been happy within the us dance and all these countries, including the u. k, they have conveyed on several occasions that they are not happy. but then it appears to be pretty confident in the it's assumption that 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 perhaps, is confident that when it goes on intensifying its trade 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 gate. oh rice, tara kart 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 b, m, w. and that ratcliffe, our show for more you can always log on to t, w dot com slash business roll on the w news youtube channel to check us out there from the on the entire business team here in berlin. it's the vine. ah,

my name versus nature conservation, red earth mining is penetrating sweden's, pristine forest. the saw me people free of for their existence is reindeer herders, their fragile ecosystem under posing a risk, so their lives focus on europe. next on d, w to the point, a strong opinion, clear position, international perspectives. top secret documents leaked online, have provided detailed accounting sum of ukraine's military capabilities and are rare window is how with united states released the war join me and our expert

guests on this week's edition of to the quite as we dive in to the pentagon makes to that point here in 60 d w to hold. we've got some hot tips for your bucket list. ah, magic corner tread hotspot for food and some great cultural memorials to boot a a hello and welcome to focus on europe. it's wonderful to have you with us. here in germany, particularly dangerous kind of bank robbery has been on the values and recent months. organized criminal gangs are.