Green Energy Daily | China unveiled its first hydrogen-powered city train in Shanghai

China Green Energy

May 11th, 2023

1. Li Auto's non-GAAP net profit almost tripled to CNY1.4 billion (USD204 mln) in Q1 from a year ago, and revenue nearly doubled to CNY18.8 bln (USD2.7 bln), the Chinese NEV maker said today. The firm delivered nearly 52,600 cars in the period, its best quarterly performance.

2. China on Wednesday unveiled its first hydrogen-powered city train in Shanghai. With a max speed of 160 km/h, the low-carbon train that incorporates the highest level of autonomous driving technology can run 600 km continuously and boasts a smart detection system for safe travel.

3. Retail sales of NEVs in China jumped 85.6% YOY in April, data from the China Passenger Car Association showed Tuesday. A total of 527,000 NEVs were sold in China last month. NEV sales of major domestic brands accounted for 70.5% of the total NEV sales in the country.

4. Huaneng Hydropower announced on Wed that it planned to acquire 100% equity of Sichuan Huaneng Hydropower Development Co., Ltd.  China Huaneng will be the controlling shareholder of the company.

5. On May 10th, Gotion High-Tech announced that its wholly-owned subsidiary, Hefei Guoxuan High-tech Power Energy Co.,Ltd., received a procurement appointment letter from Volkswagen Group, and the company will supply lithium iron phosphate "Unified Cell" products for Volkswagen's overseas markets.

6. On May 11th, China Hydrogen Alliance analyzed that by 2050, hydrogen energy will account for at least 10% of China's terminal energy system, and the demand for hydrogen will be close to 60 million tons. Among them, 24.58 million tons of hydrogen are used in the transportation field; the output of hydrogen fuel cell vehicles will reach 5.2 million units per year.

7. Recently, at COOEC Tianjin's intelligent manufacturing base, the main structure of the first 100 billion cubic meter gas field platform in Bohai Bay was completed.

8. Recently, China's CESA released the TOP30 List of China's most innovative Energy Storage Enterprises. BYD, Sungrow ranked the 1st and 2nd.

9. In Changzhou City, Jiangsu, China, the development of photovoltaic industry is the most prosperous. Six PV module leading companies have entered Top 20 in terms of shipments; 17 key PV projects here, with a total investment of more than RMB31 billion($4.48 billion).