GreenergyDaily
May. 16, 2024
1. Leapmotor and Stellantis today announced that the Leapmotor International joint venture now begins operations to expand global electric vehicle sales, starting September 2024 in nine European countries, followed by other key growth regions.
2. China's liquefied natural gas imports could hit record levels in 2024, a PetroChina official forecast on Wednesday. The world's top importer of the super-chilled fuel is seen shipping between 78-80 million metric tons of LNG this year, with the industrial and commercial sectors driving demand, Zhang Yaoyu, global head of LNG and new energies for PetroChina International, said at an industry conference in Bangkok.
3. Chinese electric vehicle maker Aiways will go public via a merger with U.S. special purpose acquisition company Hudson Acquistion Corp in a deal that should value the company around $400 million, the two companies said. The deal is a lifeline for Aiways, which halted production at its Shangrao plant last summer as a fierce EV price war in China squeezed automakers' margins.
4. NIO yesterday launched the L60, the first model under the Chinese NEV startup's brand Onvo, with presale prices from CNY219,900 (USD30,460), CNY30,000 (USD4,150) cheaper than the starting price of Tesla's Model Y. Deliveries of the L60 are expected to start in September.
5. FAW-Volkswagen Automobile said yesterday it will invest over CNY2.3 billion (USD324 million) in three new SUV models, including two new energy models, that will be produced at its plant in northern China's Tianjin from 2026.
6. The first phase of the eastern and middle routes of China's South-to-North Water Diversion Project has so far channeled 72 billion m³ of fresh water, of which some 64.157 billion m³ was transferred via the middle route, benefiting over 176 million people along the routes.
7. Li Auto is laying off over 18% of its workforce. The 2023 financial report indicates that Li Auto now has nearly 31,600 employees, a 63% increase from the previous year. This round of layoffs affects more than 5,600 individuals.
8. China Southern Power Grid Energy Storage, the energy storage division of China Southern Power Grid, has commissioned a 10 MWh sodium-ion battery storage station in Nanning, southwestern China. The company said the facility is the first large-scale project of its kind in China, and the first phase of a 100 MWh global project.
9. Chinese President Xi Jinping and Russian President Vladimir Putin on Thursday signed and issued a joint statement on deepening China-Russia comprehensive strategic partnership of coordination for a new era on the occasion of the 75th anniversary of the establishment of diplomatic ties between the two countries.
10. The United States' recent tariff increase to 100 percent from 25 percent on made-in-China electric vehicles will only slightly affect the Chinese EV sector, according to Yicai citing industry insiders.
