GreenergyDaily
May. 22, 2024
1. NIO today signed a strategic partnership with Istvan Szechenyi University Foundation to accelerate the green transformation of the automotive and energy sectors in both China and Hungary and develop cutting-edge technologies for EV charging and batteries.
2. China FAW Group penned a strategic cooperation framework agreement with iFlytek and Nio yesterday. The state-owned carmaker will work with iFlytek on infrastructure, algorithms, and tools represented by the intelligent computing center and team up with Nio on battery swapping.
3. BYD inked a deal to be the 2024 Copa America's regional sponsor on May 18, the second time the Chinese auto giant has become the official partner of a major soccer event after the UEFA Euro 2024, the firm said on WeChat yesterday. Copa America will be held in the US from June 20 to July 14.
4. According to BloombergNEF's latest New Energy Outlook 2024, China, Indonesia and Vietnam have the most scope to raise ambition in their next Nationally Determined Contributions. Their current NDCs even fall short of the Economic Transition Scenario.
5. The world's 1st commercial small modular reactor, Linglong One, officially began operating its main control room on Tue in S China, kicking off the peak period for equipment installation. The reactor is poised to generate 1 bln kWh of nuclear power a year once completed in 2026.
6. Shares in Chinese electric vehicle maker Xpeng jumped more than 10% on Wednesday driven by revenue growth from research and development services offered to Volkswagen as well as upbeat comments about its goals for gains in self-driving tech. Xpeng, which deepened its partnership with VW in April to co-develop EV architecture, said that those R&D services were primarily responsible for its revenue from services nearly doubling to 1 billion yuan ($138 million) in the first quarter from a year ago.
7. The Passenger Car Association of China reported that from May 1st to 19th, the retail sales of passenger cars in China reached 900,000 vehicles, which is a 5% decrease compared to the same period last year, but a 19% increase compared to the previous month. Since the beginning of this year, a total of 7.267 million passenger vehicles have been sold, marking a 6% increase compared to the same period last year.
8. Recently, U.S. Treasury Secretary Janet Yellen stated that China's production capacity in the electric vehicles, batteries, and solar panels fields far exceeds global demand. In response, Chinese Foreign Ministry spokesperson Wang Wenbin said, "According to U.S. logic, any commodity that is exported in excess is overcapacity. Aren't the large amounts of soybeans, aircraft, and natural gas that the U.S. exports every year also a result of excess production capacity?"
9. Karachi Nuclear Power Plant Unit-2 (K-2), the 1st overseas nuclear power unit using China's Hualong One reactor, passed final acceptance on Monday in Pakistan. The unit has generated nearly 23 billion kWh of green power since it started commercial operation in 2021.
10. China should raise its import tariffs on large gasoline-powered cars to 25%, a government-affiliated auto research body expert told China's Global Times newspaper as the country faces sharply higher U.S. auto import duties and possibly additional duties to enter the European Union. Liu Bin, chief expert of China Automotive Technology & Research Center (CATARC) and deputy director of China Automotive Strategy and Policy Research Center, said a tariff rate of 25% was in line with WTO rules.
