GreenergyDaily
Apr. 8, 2024
1. Chinese Electric Vehicle manufacturers' rapid development is a result of constant tech innovations, well-established supply chain system and market competition, not subsidies. The US and Europe's accusations of "overcapacity" are groundless, Chinese commerce minister Wang Wentao said Sunday, noting China's EV industry has made an important contribution to global response to climate change and green and low carbon transformation.
2. Chinese battery gaint CATL announced that it will hold a product launch event on April 9th to introduce their new energy storage product. It suggests that this new product will redefine the lifespan curve of energy storage products.
3. China and Brazil signed a 30-year franchise agreement on the Brazil northeast ultra-high-voltage direct current (UHVDC) power transmission line project, which is expected to be operational by 2029, in the Brazilian capital of Brasilia on Wednesday. The landmark project aims to deliver clean energies of wind, solar and hydropower from northeastern and northern Brazil to the central part of the country, aiming to promote national clean and low-carbon energy transformation.
4. SAIC Motor said the Chinese auto giant's affiliated business in India will receive INR52.2 billion (USD626.9 million) investment from local steelmaker JSW Group and other investors, leveraging their resource advantages and increasing its MG brand's market share in the country.
5. China's top electric-vehicle forum, the World New Energy Vehicle Congress (WNEVC), will hold a conference in Sacramento, California, from May 16-17, according to a statement from the Chinese Society of Automotive Engineers on Sunday.
6. China's commerce minister kicked off a trip to Europe by meeting top Chinese automakers BYD and CATL, as he prepares to discuss an ongoing probe by the bloc into whether China's EV industry has benefited from unfair subsidies. Wang Wentao held a roundtable meeting in Paris on Sunday with representatives from more than 10 enterprises that also include Geely, according to a statement published by the commerce ministry on Monday.
7. According to the latest report by SNE Research, a South Korean market research organization, LG New Energy sold a total of 12.7 GWh of electric vehicle batteries in the first two months of this year. With a 13.7% share of the global market, they have surpassed BYD to become the second-largest seller. CATL still remains at the top with a 38.4% market share, while BYD has now fallen to the third position with a market share of 13.1%.
8. Qinghai Oilfield, the world's highest-altitude oilfield in northeastern Qinghai-Xizang Plateau with an average altitude of 3,000 meters, has reached a new record-high daily crude oil output of 6,890 tonnes, up nearly 1,000 tonnes, according to its operator.
9. Chinese Premier Li Qiang on Sunday met with US Treasury Secretary Janet Yellen in Beijing. It is hoped that the United States will abide by the basic norms of a market economy including fair competition and open cooperation, refrain from turning economic and trade issues into political or security issues, and view the issue of production capacity objectively and dialectically from a market-oriented and global perspective, Li said.
10. China's central bank and local regulators have eased the country's car loan policy to promote vehicle trade-in and boost auto consumption, allowing buyers to take loans covering the full price of fuel and new energy vehicles. Shares of Chinese carmakers jumped.
