GreenergyDaily
October 26, 2023
1. On Oct. 26, some Chinese PV companies were reported to have been cooperating with the investigation of the Indian tax department, but no results have been released, according to Yicai citing people familiar with the matter. It was reported earlier that 40 Chinese PV firms were under investigation for tax evasion in India.
2. Stellantis N.V. and Leapmotor today announced that the former plans to invest EUR1.5 billion (USD1.6 billion) to acquire 20% of the Chinese EV startup. The pair will also set up a JV, Leapmotor International, to manufacture and sell Leapmotor cars outside China.
3. Chinese battery giant CATL said it inked a deal with solar and energy storage firm Zhongcheng Dayou Industrial Group to establish an energy storage project with a total investment of CNY10 billion (USD1.4 billion) by 2030. The project's energy storage capacity should be at least 3.5 GWh by 2025, CATL said yesterday.
4. Chinese electric vehicle battery giant Gotion High-Tech, whose biggest investor is Volkswagen Group, confirmed yesterday that it will build a USD2.4 billion battery project in Michigan over one year after the local governor's announcement. The project, to be located in Mecosta County, will likely cover an area of about 276.4 acres. Construction is scheduled to be completed on Dec. 31, 2031, it added.
5. Recently, the first concrete Date (FCD) of the reactor containment of Unit 1 of SPIC's Lianjiang Nuclear Power Plant was completed. The project plans to construct 6 CAP series third-generation nuclear power units with a total installed capacity of 8.62 GW.
6. Aito refuted reports claiming Huawei will take over the EV brand's sales department, which will be moved under the control of an affiliate of the Chinese tech giant, 36Kr reported. Huawei will continue to invest in Aito stores, Aito added.
7. PetroChina aims to achieve net-zero emissions by around 2050 and increase the proportion of new energy capacity to 50% by 2050, Pei Ying, an official at the Chinese oil and gas giant, said at an ESG (Environmental, Social, and Governance) event today.
8. China managed to collect CNY 1.075 trillion ($146.9 billion) of funds for water conservancy construction in the first 9 months and the amount of investment reached 860.1 billion yuan ($117.6 billion), both at record highs, said the vice-minister of water resources.
9. German carmakers will "fight" any potential tariff war between Brussels and Beijing, said Porsche's CFO Lutz Meschke on Tuesday. He said the EU's move was "not very helpful" for the bloc overall, but especially not for Germany, which relies heavily on exports to China.
10. After stepping down from legal representative and chairman of BYD Lithium Battery, BYD's founder Wang Chuanfu will also gradually resign from all his positions in other units to simplify the administrative process, Yicai learned from the Chinese electric vehicle and battery giant.
