1. On Sep. 14, according to the National Energy Administration of China, in August, the electricity consumption of the whole society was 886.1 bln kWh, up 3.9% YoY; the domestic electricity consumption of urban and rural residents was 155 bln kWh, down 9.9% YoY; from January to August, the total electricity consumption in the whole society was 6,082.6 bln kWh, up 5.0% YoY.
2. On Sep. 13, Canadian Solar expected that by the end of 2024, the company's rod, silicon wafer, cell and module production capacity will reach 50.4 GW, 60 GW, 70 GW, and 80 GW respectively. Canadian Solar said that the company is establishing a solar photovoltaic module production base in Texas with an annual output of 5GW. The factory is expected to be put into operation by the end of 2023.
3. On Sep. 14, according to WSJ, BP had confirmed its commitment to its current strategy, despite the appointment of Murray Auchincloss as interim CEO. In a virtual meeting with BP employees, Auchincloss stated, "Although the CEO may have changed, the core values and principles of the company remain the same." BP plans to invest $55 billion to $65 billion in its new business between 2023 and 2030.
4. Regarding the recent announcement by European Commission President Ursula von der Leyen to launch an investigation into Chinese subsidies for electric vehicles, according to Yicai, BYD's staff stated that the company has not yet responded to the possible impact of this information on the company. However, BYD's current export of EVs to Europe is still relatively small.
5. On Sep. 14, regarding the recent announcement by European Commission President Ursula von der Leyen to launch an investigation into Chinese subsidies for electric vehicles, China has expressed strong opposition to the investigation, a spokesperson from the Chinese Commerce Ministry said on Thursday, according to CGTN. China regards such measures as pure protectionism, which has the potential to harm China-EU economic and trade ties, the spokesperson said.
6. On Sep. 14, Indonesia's Anugrah Neo Energy Materials and China's Gotion Indonesia Materials have agreed to build a high-pressure acid leaching (HPAL) plant to produce materials used in batteries for electric vehicles, Indonesia's industry ministry said. The HPAL plant will have a production capacity of 120,000 tons of nickel in mixed hydroxide precipitate per year, according to Reuters citing the ministry said in a statement on Wednesday.
7. On Sep. 14, according to CCTV News, the "2023 China Commemorative Conference for International Ozone Layer Protection Day" held today introduced that since China joined The Montreal Protocol on Substances That Deplete the Ozone Layer in 1991, as of 2022, it has phased out about 628,000 tons of ozone-depleting substances (ODS), accounting for more than half of the elimination in developing countries. In the 30 years from 1991 to 2020, China has avoided a total of 26 billion tons of carbon dioxide equivalent emissions in the process of phasing out ODS.
8. On Sep. 14, TrendForce's latest "2023 Global Li-Ion Battery Industry Chain Market Supply and Demand Report" indicates that global lithium production in 2022 hit approximately 860,000 tons of Lithium Carbonate Equivalent (LCE). ALB, with its diverse lithium portfolio (spodumene, lithium salt, and tolling), accounted for over 180,000 tons of LCE. Predictions for 2023 spotlight a global lithium production reaching 1.21 million tons LCE, and ALB is set to churn out 200,000 tons of that, holding firmly onto the lead with its 17% market share.
9. On Sep. 13, Volkswagen is looking at reducing staff at its plant in the eastern German city of Zwickau due to low demand for electric cars, according to Bloomberg. The German carmaker plans to let go of nearly 300 temporary workers, whose contracts will expire in October. The fate of about 2,000 additional temporary employees remains uncertain, people familiar with the matter said.
10. On Sep. 14, Blackstone is said to mull a deal for Chinese solar firm Growatt, a Blackstone offer could value Growatt at about $1B, according to Bloomberg.