Tag: manufacturing

Game Tech: The Feds Just Bet Even Bigger on American-Made Heat Pumps
Technology and Ai

Game Tech: The Feds Just Bet Even Bigger on American-Made Heat Pumps

While everyone’s been focused on accelerating the adoption of electric vehicles to cut carbon emissions, a technological hero has been rapidly ascending under the radar: the heat pump. Instead of burning natural gas or coal to produce heat, this fully electric device extracts warmth from outdoor air—even when it’s freezing outside—and pumps it inside to warm a structure. After years of stealthy, steady growth, heat pumps are now outselling gas furnaces in the United States, whereas EVs accounted for just 8 percent of all US new vehicle sales in the first half of 2023.In November, the Biden administration announced it would be infusing the domestic heat pump industry with $169 million in federal funding, increasing capacity to manufacture the actual devices and their various components, ...
Business

Breaking News: PLI scheme’s progress slows in key sectors, affecting manufacturing goals | News – Business Standard

Investment in important sectors identified to spur domestic manufacturing under the flagship Production-Linked Incentive (PLI) scheme of the Centre is slowing just a year after their launch. Investment growth is “significantly slow” in textiles, information technology hardware, and speciality steel this financial year, according to a review report by an inter-ministerial panel which does periodical stocktaking of the scheme. The government was hoping to see investment worth Rs 49,682 crore in FY24. Of this, 61.8 per cent or over Rs 30,695 crore has been made in all the 14 sectors during the first nine months this financial year. Apart from the above-mentioned three sectors, progress has been slow in the case of medical devices, automobile and auto components,...
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