GreenergyDaily
Aug. 2, 2024
1. China's marine economy expanded steadily in H1 2024, with a gross output of 4.9 trillion yuan (about $678.55 billion), up 5.6% year on year, data from the Ministry of Natural Resources showed.
2. Chinese scientists have made a breakthrough by developing innovative homogeneous cathodes, enabling an all-solid-state lithium battery to maintain 80% of its initial capacity after 5,000 cycles of usage and achieve a high energy density of 390 Wh/kg, which is 1.3 times that of current long-cycle-life counterparts.
3. According to the latest policy, China will issue subsidies to cities that upgrade buses to new energy and power batteries. The average subsidy value is CNY80,000 (USD11,040) per vehicle upgrade to new energy and CNY42,000 (USD5,796) to power battery.
4. ADNOC's offshore Satah Al Razboot field has achieved a 25% increase in production capacity by implementing industry-leading advanced digital technologies.
5. Audi's new electric cars series developed in China for the Chinese market will not sport its four-ring logo, Reuters reported today. The decision by the premium marque owned by Germany's Volkswagen is due to "brand image consideration," one of the people said. It also reflects the use of automotive architecture co-developed with Chinese partner SAIC and an increased reliance on local suppliers and technologies.
6. Volvo Cars' sales rose 6% year-on-year in July to 57,447 cars, driven by an increase in fully electric vehicles in Europe, the Sweden-based automaker said on Friday. Volvo Cars, which is majority-owned by China's Geely Holding, said in a statement that total sales in Europe, the biggest market for Volvo Cars, were up 40%, while sales in the U.S. and China fell by 11% and 31%, respectively.
7. China will further expand its globally-oriented network of high-standard free trade areas (FTAs) to cover more countries and regions, aiming for the FTAs network to contribute 40% of the country's total foreign trade by 2030, according to a Commerce Ministry official on Friday.
8. Tesla registered an insurance broking firm in China at the end of July, based on a national corporate information database, in a sign that the U.S. automaker may be trying again to gain approval to sell insurance products in the country. The new company, located in Beijing's Central Business District, was set up on July 30 with a registered capital of 50 million yuan ($6.92 million), the National Enterprise Credit Information Publicity System showed.
9. Chinese wind turbine makers' overseas installations are set to accelerate in the next ten years as they fill the gap left in emerging markets by rivals prioritizing profitability over global expansion, according to WoodMackenzie.
10. U.S. automaker Tesla's sales of China-made electric vehicles rose 15.3% from a year earlier to 74,117 units in July, data from the China Passenger Car Association showed on Friday. Deliveries of China-made Model 3 and Model Y vehicles were up 4.4% from June. Chinese rival BYD, with its Dynasty and Ocean lineups of EVs and plug-in hybrids, saw passenger vehicle sales jump 30.5% year-on-year to a fresh monthly high of 340,799 units in July.
