GreenergyDaily

Mar. 14, 2024

1. Tarim Oilfield, a major natural gas source for China's West-to-East gas pipelines, has drilled the vertical section of its Manshen-807 well at a depth of 8,500m in less than 100 days, 47 days ahead of schedule, setting a record for the fastest drilling of its kind in China.

2. China has released an action plan to promote the large-scale renewal of equipment and the trading-in of consumer goods, with an estimated equipment renewal market value of 5 trillion yuan (about $695.62 billion). Following are goals by 2027 compared with 2023 figures: over 25% increase in the scale of equipment investment; roughly double the recycling volume of scrapped vehicles; 45% growth in used car transactions; up the recycling of used household appliances by 30%.

3. Sinopec and CATL signed a strategic cooperation framework agreement in Beijing yesterday. Both parties expressed their intention to leverage their respective strengths to deepen strategic cooperation and contribute significantly to promoting the green, low-carbon, and high-quality development of the energy sector, as well as to the rapid development of strategic emerging and future industries.

4. NIO will name its budget SUV-oriented NEV sub-brand, which had been called Alps, Onvo or Le Dao in Chinese, according to Yicai citing several industry insiders. The first model under the Onvo brand that will rival Tesla's Model Y will be called L60, they added.

5. A Milestone for Sungrow EV Chargers in Australia. With the latest partnerships with several esteemed Australian companies, Sungrow is poised to provide its cutting-edge Integrated DC Chargers and comprehensive charging solutions to the Australian market.

6. A record number of Chinese consumers voiced regret at buying electric vehicles and will consider conventional automobiles for their next purchase due to a lack of charging infrastructure in the country's vast number of small cities, a report by consultancy McKinsey said on Tuesday.

7. Yinlun Machinery, a Chinese supplier of new energy vehicle heat and cooling management parts, secured its fifth overseas order of the past three months, which is expected to generate about CNY280 million (USD38.9 million) in annual sales revenue.

8. The world's largest methanol bunkering vessel completed a refueling test at Yangshan Port in Shanghai on Wednesday, marking the port's ability to provide methanol refueling services which will help further reduce operational costs.

9. The No.8 unit of Tianwan Nuclear Power Station enters the equipment installation & adjusting stage as its inner dome's circular belt was hoisted into place Wed in E China's Jiangsu. The 8-unit station can yield 70+ bln kWh of clean electricity annually upon full operation by 2027.

10. Chinese electric vehicle maker NIO on Thursday signed an agreement with battery giant CATL on a partnership to develop batteries with a longer life as part of efforts to lower overall EV costs. The partnership will leverage battery technologies from each company seeking to lower the so-called "full life circle" costs of batteries, key for the operating costs of NIO's thousands of battery swapping and charging stations, William Li, Nio's founder and CEO, told reporters in Beijing.