GreenergyDaily
Aug. 5, 2024
1. China Evergrande New Energy Vehicle said on Monday a local court had ruled that two of its units should enter into bankruptcy and be reorganized, a week after individual creditors of the units filed for such proceedings. Shares of the electric vehicle maker plunged 7% on July 29, a day after individual creditors of Evergrande New Energy Vehicle (Guangdong) and Evergrande Smart Automotive (Guangdong) sought court approval for the units to go through bankruptcy proceedings and be reorganized.
2. Chinese battery giant CATL signed a deal with Autoflight on Aug. 3 to invest hundreds of millions of US dollars in the electric aircraft manufacturer. The pair will co-develop eVTOL batteries and accelerate the development and airworthiness certification of Autoflight's eVTOL.
3. A 1.2 million-kW pumped storage hydropower plant, the 1st of its kind in northwest China, is fully operational after its No.4 unit started power generation recently. The plant can generate 2.6 billion kWh of clean energy annually while reducing CO2 emissions by 496,000 tonnes.
4. Xpeng Aeroht, the flying car subsidiary of Xpeng, has secured a new funding round, after closing its last round about 3 years ago. Xpeng Aeroht secured $150 million in Series B1 funding and launched a Series B2 round, the company announced today. The latest financing will be used for the development, mass production and commercialization of Xpeng Aeroht's flying cars.
5. The largest domestic high-precision positioning network for electricity using BeiDou Navigation Satellite System has been completed with 591 base stations set up in northwest China, which has supported the 1st drone patrol inspection at a 110-kV transformer substation recently.
6. EU member states are expected to back the proposed tariffs on Chinese electric vehicles in November, as per the bloc's trade chief, Valdis Dombrovskis. The 27 countries, though often divided on China-related matters, are likely to support measures aimed at aiding the domestic auto industry to compete with imports that are heavily subsidized by Beijing.
7. Tesla has hired its new head of operations to spearhead the launch of its household energy supplier in the UK. Roxanne Inskip-Kaye, who was previously head of billing at Ecotricity and director of operations at Social Energy, joined Tesla in June, according to LinkedIn.
8. China's Xinjiang Uygur Autonomous Region, which is rich in wind and solar resources, saw a 103% increase YoY in installed new energy capacity in the first half of this year. Among the new 14.08 million kW of installed new energy capacity in Xinjiang, wind power accounts for 4.28 million kW and solar power for 9.8 million kW, according to the latest data from the State Grid Xinjiang Electric Power Co., Ltd.
9. According to data from the General Administration of Customs of China today, in June 2024, China's total import and export of automobile products amounted to US$25.19 billion, representing a YoY increase of 6.7%. The import value was US$6.17 billion, marking a YoY decrease of 4.9%, while the export value was US$19.02 billion, showing a YoY increase of 11.1%. From January to June 2024, the country's cumulative import and export of automobile products reached US$145.31 billion, indicating a YoY increase of 6.8%. The import value was US$33.41 billion, down 7.5% YoY, and the export value was US$111.9 billion, up 11.9% YoY.
10. Chinese vehicle firm Chery marked a milestone in Jakarta on Saturday with the handover of its 3,000th Omoda E5 electric SUV in Indonesia.
