GreenergyDaily
Sep. 24, 2024
1. The proportion of raw coal in China's total primary energy production dropped to 66.6% in 2023, while crude oil's share fell to 6.2%. Clean energy sources such as natural gas, hydropower, nuclear power, and renewables saw rapid growth, increasing their share to 27.2% during same period, according to a report from the National Bureau of Statistics.
2. Energy consumption per unit of GDP has declined, with a cumulative reduction of 43.8% since the 11th Five-Year Plan (2006-2010 period), averaging an annual decrease of 3.1%, according to a report from the National Bureau of Statistics.
3. Geely Auto and Tasco yesterday signed a JV agreement for the manufacturing and assembly of automobiles in Vietnam, the latter announced today. With a total investment of about USD168 million, the plant will produce 75,000 vehicles per year in the first phase.
4. Dajin Heavy Industry's shares jumped after China's biggest private maker of wind turbine foundations said its unit has inked a EUR46 million (USD51.1 million) deal to supply parts to a Baltic Sea project developer.
5. Volkswagen's Chinese arm is working to improve efficiency and reduce costs but has not disclosed the number of employees affected following reports of layoffs. The company is optimizing costs across various departments and projects, including labor and indirect expenses, due to intense competition in the country.
6. China's automotive industry is about to experience a “Nokia moment,” Hozon Auto's founder and Chairman Fang Yunzhou said at an event yesterday. The NEV penetration rate in the Chinese auto market has jumped to 50% from 5% in the past three to four years, he added.
7. China's Leapmotor is set to start taking orders in Europe for a city car and an SUV, the automaker and its partner Stellantis said on Tuesday as they expand their budget electric vehicle offering in the region. Stellantis holds a 51% stake in their Leapmotor International joint venture and has exclusive rights to build, export and sell Leapmotor products outside China in the first such arrangement for a legacy Western automaker.
8. Chinese vanadium redox flow battery specialist Hunan Yinfeng New Energy is looking to invest CNY 11.5 billion ($1.63 billion) in the development of a major manufacturing facility in Inner Mongolia. The project is expected to play a major role in promoting the adoption of vanadium redox flow batteries, one of the most promising large-scale energy storage technologies due to their long cycle life, exceptional safety, and environmental credentials.
9. China's Trina Solar has submitted plans to build 660 MW/2,640 battery storage facility at Kemerton in an industrial zone south of Perth, Western Australia.
10. General Motors and Ford Motor would need to stop importing vehicles to the U.S. from China under a proposed rule cracking down on Chinese software and hardware, a U.S. Commerce Department official told Reuters Monday. The rule would also affect other automakers selling or building vehicles in the U.S., such as Volvo Cars and BYD.
