GreenergyDaily

Apr. 19, 2024

1. China has officially put the first batch of its self-developed FXN3B shunting locomotives into operation in two railway stations in Beijing. The diesel-electric locomotive can cut the daily working time of the diesel engine by 75%-82%, reducing fuel consumption by 25%-34%.

2. Saudi Arabia has a "good chance" of getting close to its target of 130 GW of renewables by 2030 if it persists with strict policy implementation, according to a new report by Global Data. Its latest report, "Saudi Arabia Power Market Size, Trends, Regulations, Competitive Landscape and Forecast, 2024-2035," says the country has added 2.1 GW of renewable power capacity since 2022 – a 300% increase from the 700 MW added between 2012 and 2022.

3. Mexico's federal government, under pressure from the U.S., is keeping Chinese automakers at arm's length by refusing to offer such incentives as low-cost public land or tax cuts for investment in EV production, according to Reuters citing three Mexican officials familiar with the matter. The last meeting between top Mexican officials and a Chinese automaker was in January, the sources said, with executives of BYD.

4. Volvo Cars signed an MOU with CATL on strategic cooperation in battery closed loop recycling, the Swedish automaker said yesterday. The partnership aims to promote the recycling of battery materials and reduce the carbon footprint across the lifecycle of EVs.

5. China firmly opposes the US' new restrictive measures on Chinese steel and aluminum products, which could triple the tariffs on these products, China's Commerce Ministry said Thursday, noting such actions are typically unilateral and protectionist, and the US accusations against China are groundless.

6. Two senior women are leaving BP in the first big changes to the company's management team since the departure last year of chief executive Bernard Looney in a scandal over his past relationships with colleagues.  Chief technology and innovation officer Leigh-Ann Russell is leaving for an external job after 18 years at BP, while Anja-Isabel Dotzenrath, who joined in 2022 to head BP's gas and low-carbon business, will retire, the FTSE 100 oil major said in a statement on Thursday.

7. Sinopec has announced the successful completion of the equity delivery of a polyethylene project in Astana, in partnership with KazMunayGas, Kazakhstan's National Oil and Gas Company. As a result, Sinopec has officially become a shareholder in the project and has acquired 30% of the equity from other partners.

8. China's international trade in goods and services saw a surplus of more than $60 billion in the first quarter of 2024, the State Administration of Foreign Exchange said Thursday.

9. Volkswagen AG said on Wednesday it is codeveloping an electrical/electronic architecture with Chinese startup Xpeng to improve its competitive edge in China's heated EV market. The architecture, which will be available in 2026, will ensure the rapid expansion of digital services in the Volkswagen brand's China-specific vehicles, thus improving the allure of the German carmaker's products.

10. The extent of Tesla's layoffs in China is much deeper than Elon Musk's stated 10%, as some departments face cuts of 30% to 40% and others up to 50%, with the sales department hit hardest, Chinese NEV information website Gasgoo reported yesterday, citing sources.