GreenergyDaily
Apr. 2, 2024
1. Leapmotor's deliveries more than doubled to 14,567 vehicles in March from a year earlier, bringing its total deliveries to 33,410 units in the first quarter, the Chinese NEV maker said yesterday. The company launched its electric SUV, the C10, last month.
2. China has a unique opportunity to drive forward an energy revolution in Africa, but it must first reverse nearly two decades of neglect of green power investments there, research from Boston University showed on Tuesday. Beijing has emerged as the continent's biggest bilateral trading partner since the start of the century and has financed billions of dollars worth of large-scale infrastructure projects.
3. India has no restrictions on the import of electric vehicles from any country, including China, under a new EV policy, a senior government official told broadcaster CNBC-TV18 on Tuesday. Last month, India announced lowering import taxes on certain electric vehicles produced by carmakers who commit to invest at least $500 million and start domestic manufacturing within three years.
4. BYD, China's biggest electric vehicle maker, reported first quarter 2024 sales fell 43% compared to the fourth quarter of 2023, which may mean it will hand back the title of world's biggest EV seller to Tesla after winning it last year. BYD sold 300,114 EVs in the first quarter of this year, it said in a filing to the Shenzhen Stock Exchange late on Monday, down 43% from a record quarterly high of 526,409 units sold in the previous three-month period, when it surpassed Tesla. First-quarter sales were up 13.4% from a year ago.
5. Shares of China's Xiaomi surged as much as 16% on Tuesday as the electronics maker's sporty electric vehicle launched last week drew strong interest, though a brokerage forecast the firm would lose nearly $10,000 per car this year. The stock touched its highest since January 2022 on the first day of trading since the Thursday launch of Xiaomi's debut car, which draws styling cues from Porsche. It later pared gains to close 9% higher, adding $4 billion to its market value.
6. U.S. automaker Tesla sold 89,064 China-made electric vehicles in March, a 0.2% increase from a year earlier, China Passenger Car Association data showed on Tuesday. Deliveries of China-made Model 3 and Model Y vehicles were up 47.5% from February. Chinese rival BYD, with its Dynasty and Ocean series of EVs and plug-in hybrids, which sold 302,459 vehicles last month, a 46% increase from a year earlier and its second-highest monthly sales tally after December.
7. The Chinese arm of British oil and gas company Shell has named Sabrina Qu as its new chairwoman, replacing its first-ever female chair in less than a year. Qu will also be an executive vice president of Shell, an insider at Shell China told Yicai yesterday. Chen Lin, who was appointed chairwoman last July, is on sick leave, the person noted.
8. Hozon Auto, the owner of the electric vehicle brand Neta, will launch a series of cost-cutting measures such as concentrating its production in eastern China's Tongxiang after sales plunged last year.
9. Li Auto's vehicle deliveries jumped 53% to 80,400 in the first quarter from a year ago, with March's rising 39% to 28,984, the Chinese EV startup said today. Li Auto beat its own earlier lowered outlook for up to 78,000 linked to the launch of the Li Mega minivan.
10. Chinese oil giant PetroChina's market value briefly surpassed that of the nation's top lender, making it at one point the second-largest listed company in mainland China. The oil producer's market capitalization rose to 1.75 trillion yuan ($242 billion) at the end of trading on Tuesday.
