GreenergyDaily

Feb. 27, 2024

1. Xiaomi will soon unveil the price tiers of its first EV model, the SU7, and begin deliveries in the second quarter, President Lu Weibing said during the MWC24. Xiaomi has spent USD10 billion to develop the model, he added.

2. Beijing has granted permits to several robot taxi operators, including Baidu Inc and Pony.ai, allowing them to offer driverless vehicle services at Beijing Daxing International Airport, a key step indicating that the city has become the world's first capital to run autonomous passenger vehicles between urban areas and the airport.

3. Li Auto Inc shares soared in Hong Kong after upbeat earnings showed the electric-vehicle maker is showing promise in China's hyper-competitive market. The stock rose as much as 21% on Tuesday, the most since November 2022. The move takes its rally this month to more than 50%, far outstripping all other members of an index tracking Chinese technology companies listed in Hong Kong.

4. Chinese regulators are taking measures to keep the renminbi's dollar exchange rate stable as Beijing seeks to bolster confidence in the country's currency and economy ahead of a key leadership summit, FT reported.

5. Russia plans to introduce a six-month ban on gasoline exports starting from March 1, a spokesperson for Russian Deputy Prime Minister Alexander Novak told reporters on Tuesday.

6. China's national carbon market has emerged as the world's largest, covering an annual volume of Greenhouse Gas emissions totaling 5.1 billion tonnes so far. Carbon trading within the market commenced in July 2021 and now involves 2,257 power companies, a senior official said Mon.

7. Tokyo Electric Power Company announced on Monday that it will start the 4th round of release of the nuclear-contaminated wastewater, about 7,800 tons, from the crippled Fukushima Daiichi Nuclear Power Plant into the Pacific Ocean on Wednesday, over about 17 days, local media reported.

8. BYD Co. has been contacted by the Italian government as part of the country's efforts to attract a second car manufacturer beyond Fiat maker Stellantis NV. "We have some contacts to discuss about that," Michael Shu, managing director of BYD Europe, said in an interview at the Geneva International Motor Show. The need for a second European plant "depends on our sales — now we're making very good progress."

9. Ouyang Minggao, who is an academician of the Chinese Academy of Sciences and also the vice chairman of the China EV 100, stated that due to the advancements in technology, such as urban navigation-assisted driving and fast charging, it is expected that the market share of new energy vehicles will surpass 40% in 2024 and come close to 50% in 2025. Additionally, it is predicted that the new energy vehicles will exceed the 50% mark and dominate the market in 2026.

10. Shares of CSI Solar rose after the Chinese unit of Canadian photovoltaic module giant Canadian Solar said it will invest around CNY9.6 billion (USD1.3 billion) to build a highly efficient solar industrial park and plans to buy back up to CNY1 billion worth of shares.