GreenergyDaily

Aug. 19, 2024

1.  China has increased a financial stimulus to encourage consumers to scrap their old vehicles and buy new ones, according to a circular issued on Friday. Subsidies for trade-ins of new energy passenger vehicles have doubled from 10,000 yuan ($1,400) to 20,000 yuan.

2. CRRC Changchun completed its 7-day assignment to provide transportation for the 2024 Hajj at Mecca, Saudi Arabia. The tailored subway system transported over 2.09 million passengers, with each train capable of carrying more than 5,000 passengers. The trains operated efficiently in high temperatures of 50°C and strong winds up to a force of Scale 8, earning appreciation worldwide.

3. Xiaomi apologized for the technical issues during a livestream on Aug. 17, where the tech giant's Chairman Lei Jun participated in Xiaomi Auto's summer test event with several senior executives in Turpan, NW China's Xinjiang Uygur Autonomous Region.

4. Zeekr Intelligent Technology, the electric vehicle arm of Chinese car manufacturer Geely Automobile Holdings, has incited the anger of customers with its frequent upgrades of its flagship model, the Zeekr 001, and constant price cuts. Zeekr released the 2025 version of the Zeekr 001 this week, just a few months after the 2024 model was launched. Yet the new version is CNY10,000 (USD1,394) cheaper than the 2024 model, selling at between CNY259,000 and CNY329,000 (USD36,100 and USD45,860), and has more advanced LiDAR and intelligent driving systems

5. Chinese electric vehicle giant BYD on Saturday announced plans to open a car production plant in Pakistan, where it will also start selling three models through a partnership with Mega Motors. BYD is the first major new electric vehicle entrant in the Pakistani market, where there is a lack of charging infrastructure.

6. Chinese exporters of auto parts are achieving rapid and steady growth, thanks to the efficiency of cross-border online retail platforms, improved logistics and a large, fixed market overseas. Even in economic downturns, people still have a strong rigid demand for auto repairs and replacement parts, and this has spurred the growth of auto parts exports, said Song Lei, founder of Shanghai Yinshi Network Technology.

7. Ganfeng Lithium's subsidiary, Ganfeng LiEnergy Technology, and Yiğit Akü, Türkiye's largest manufacturer, exporter, and recycler of lead-acid batteries, have announced plans to establish a joint venture in a Middle Eastern country. The joint venture aims to invest in, construct, and manage a lithium battery facility. Ganfeng Lithium plans to invest USD500 million to build a lithium battery plant in Türkiye with a local partner to better serve its international clients.

8. The China-built 800-MW Mohmand Hydropower Project in Pakistan marked a key construction step after completing river closure on Friday. Upon operation, the project will generate 2.86 bln kWh of clean electricity and provide 140 mln m³ of drinking water to locals every year.

9. Being a leader in promoting green transformation among Chinese cities, Shanghai, to date, has more than 1.41 million NEVs in operation across the city, and nearly 840,000 units of charging piles.

10. Chinese automakers including Xpeng, Geely Automobile and Xiaomi should all report higher vehicle sales, though challenges remain as competition heats up and the EU moves ahead with tariffs. The EU is hiking tariffs on EVs made in China by as much as 48%, citing subsidies that harm the bloc's carmakers that have been struggling to keep up with China's new generation of green car manufacturers.