GreenergyDaily
Aug. 29, 2024
1. Nepal imported a total of 11,701 electric four-wheelers in the 2023-24 fiscal year that ended in mid-July, 8,065 of which were from #China, according to the Department of Customs.
2. China's retail sales of passenger new energy vehicles amounted to 718,000 units in the August 1-25 period, up 48% from the same period last year and up 18% from the same period last month, data released by the China Passenger Car Association showed. So far this year, cumulative retail sales of passenger NEVs in China totaled 5.707 million units, up 35% from the same period last year.
3. In the first half of 2024, Ganfeng Lithium announced an operating income of 9.589 billion yuan (about $1.35 billion), a 47.16% decrease compared to the previous year. The net loss attributable to shareholders of the listed company was 760 million yuan (about $106.62 million).
4. China has boosted domestic coal production and imports to record highs, even as surging power from hydro dams and solar farms has trimmed thermal generation during the summer heatwave. Coal-fired generation remains critical to ensuring the reliability of electricity supplies - especially in the winter, when hydro and solar output is much lower and the system depends far more heavily on fossil energy.
5. China has become the world's largest investor in energy transition, contributing to global energy transition and a clean world, said a white paper issued Thursday. The country's investment in energy transition reached 676 billion U.S. dollars in 2023, making it the world's largest investor in this field, according to the white paper titled "China's Energy Transition." The country has doubled its efforts in technological innovation to upgrade new energy technology at a faster pace, contributing enormously to a sharp reduction in the costs of wind power and photovoltaic power worldwide, according to the white paper.
6. Before Canada said this week it was imposing a 100% duty on Chinese-made electric vehicles, Tesla approached Ottawa and asked for a lower tariff on its autos, according to Reuters citing a Canadian government source on Wednesday.
7. Asia's imports of crude oil lifted in August from the two-year low in July as top-importing heavyweights China, India, South Korea and Japan brought in more barrels. Total imports for August are expected to be 26.74 million barrels per day, up from July's 24.56 million bpd, according to data compiled by LSEG Oil Research. While a 2.18 million bpd increase seems large, it's worth noting that July's imports were the weakest since the same month in 2022, and that the August total is still only the fifth-highest out of the eight months so far in 2024.
8. China will keep phasing out fossil fuels and reforming its electricity system, the National Energy Administration said on Thursday, issuing a white paper long on listing accomplishments but short on new plans for China's energy transition. The administration head Zhang Jianhua said China would continue to expand the spot market, promote green electricity trading and replace fossil fuels with renewable energy.
9. China has reduced CO2 emission by 3 billion tons over the past decade in an effort to promote green consumption, a white paper said Thursday.
10. BYD's revenue increased by 16% to CNY121.1 billion (USD42.3 billion) in the first half compared to the previous year, driven by the growth of the NEV and handset components business, as reported in an exchange filing by the Chinese automaker. The net profit also grew by 24% to CNY13.6 billion (USD1.9 billion).
