GreenergyDaily
Mar. 28, 2024
1. Chinese battery giant CATL plans to open its first offline brand display store for "CATL Inside" models in Chengdu this August, 36Kr reported yesterday. The store is expected to cover more than 50 models from some 20 carmakers, with over 150 vehicles on display.
2. The Boao near-zero carbon demonstration zone has completed a green energy revamp on 18 projects in 8 categories with a nearly 70% CO emissions cut, showcasing sustainability at the ongoing Boao Forum of Asia (BFA) Annual Conference 2024 on March 26-29 in South China.
3. Iran signed a 5-year gas supply deal with Iraq, with pumping rates of up to 50 million cubic meters per day according to the needs of Iraqi power stations, the Iraqi News Agency reported on Wednesday.
4. NIO closed down 2.3% in New York yesterday after the Chinese EV startup lowered its delivery outlook for the year's first quarter. Deliveries will likely reach 30,000 units compared with a previous forecast of 31,000 to 33,000 vehicles.
5. Evergrande NEV's stock rose 1.8% as of 9.55 a.m. today after the EV unit of struggling property giant China Evergrande Group said yesterday its net loss shrank 57% to over CNY11.9 billion (USD1.7 billion) in 2023 from a year ago. Its deliveries totaled 1,389 units as of the end of last year.
6. The Chinese yuan kept the world's fourth most active currency in February, accounting for 4% of global payments, according to data from Swift. The Yuan payments value fell by 20.5% from January, while payments in all currencies shrank by 10.4%.
7. A surge in cheap exports from China in industries like electric vehicles could create an oversupply and hurt economies, US Treasury Secretary Janet Yellen warned in a speech. "We see the excess capacity building in 'new' industries like solar, EVs, and lithium-ion batteries," Yellen noted, "overcapacity could distort global prices and production".
8. China's battery giant BYD will debut the fifth generation of its super dual-mode plug-in hybrid technology in May, while its overseas sales will likely surge multiple times over the next three years, according to Wang Chuanfu, the company's chairman.
9. China's top legislator Zhao Leji said on Thursday that China's green and low-carbon development will create a huge increase in economic growth and nurture a 10-trillion-yuan (about 1.4 trillion U.S. dollars) market for investment and consumption each year.
10. China Petroleum Engineering, a subsidiary of Chinese oil and gas giant China National Petroleum Corporation, has scored a CNY7.3 billion (USD1 billion) engineering, procurement and construction contract to build a petrochemicals plant for a Chinese joint venture with Saudi Basic Industries Corporation, one of the world’s largest petrochemicals producers.
