GreenergyDaily
Jan. 29, 2024
1. Chinese battery giant CATL and ride-hailer DiDi yesterday announced the set-up of a battery-swapping joint venture. The pair will work closely to build battery swap stations, promote battery swap models, improve the efficiency of the charging market, and transform green transport.
2. A Hong Kong court on Monday ordered the liquidation of property giant China Evergrande Group, opens new tab, a move likely to send ripples through China's crumbling financial markets as policymakers scramble to contain a deepening crisis. The decision to liquidate the world's most indebted developer with more than $300 billion of total liabilities was made by Hong Kong Justice Linda Chan, who noted Evergrande had been unable to offer a concrete restructuring plan despite months of delays.
3. According to the China Association of Automobile Manufacturers citing data from the National Bureau of Statistics of China, the automobile manufacturing industry achieved operating revenue of 10.09758 billion yuan in 2023, a year-on-year increase of 11.9%. In 2023, the profit of the automobile manufacturing industry was 508.63 billion yuan, a year-on-year increase of 5.9%.
4. Recently, a dual-power train manufactured by CRRC Sifang began operation in Chile. The train, capable of seamlessly switching between diesel and electricity, is designed to reach a top speed of 160km per hour, making it the fastest train in South America.
5. China's Fangchenggang offshore wind power project, with the largest single installed capacity, has achieved grid-connected power generation in South China's Guangxi Zhuang Autonomous Region on Sunday. Once operational, the project is expected to generate over 5 billion kilowatt-hours of electricity annually, which will be sufficient to meet the basic electricity needs of nearly 5 million households.
6. Porsche AG unveiled the electric Macan, its long-delayed first battery-powered sport utility vehicle, just as the EV market shows signs of cooling. Presented Thursday in Singapore, the model that starts at €84,100 ($91,593; US pricing starts at $78,800) will test appetite for luxury EVs as consumers grapple with higher borrowing costs and sub-par charging infrastructure.
7. China's real economic growth rate in 2024 is projected to reach between 4.8% to 5%, with an annual inflation rate between 1% to 1.5%, according to the latest macroeconomic and financial analysis published by the Institute of Finance & Banking of China Social Science Academy on Monday.
8. QatarEnergy, Excelerate Energy sign 15-year agreement to supply 1 MTPA of LNG to Bangladesh.
9. China's Zhongman Petroleum announced today that the company expects to achieve net profits attributable to shareholders of listed companies in 2023 of 800 million to 850 million yuan, a year-on-year increase of 58.94% to 68.88%.
10. Inter RAO board member Alexandra Panina said that electricity exports from the Russian Federation to China reached 3.1 billion kilowatt hours in 2023. This figure was 4.6 billion kilowatt hours the previous year.
