GreenergyDaily
October 25, 2023
1. Chinese EV startup XPeng Motors opened 7.8% up in Hong Kong today after it introduced its latest advancements across XNGP ADAS, smart cabin system, powertrain system, electrical and electronic architecture, smart manufacturing, flying car, and robot technology at its annual Tech Day event yesterday.
2. XPeng Motors announced yesterday that it will launch a new flying car called the "Land Carrier." It is powered by a hybrid-electric powertrain and has a six-wheel drive with rear-wheel steering, which is expected to be in mass production in the next 2-3 years.
3. Geoffrey Pyatt, assistant secretary for energy resources at the State Department, said on Tuesday that emerging U.S. businesses in the energy transition supply chain such as hydrogen and wind power should act fast to avoid being dominated by China. He added that the U.S. needs to ensure that China does not dominate wind power, small nuclear power and hydrogen. China has enjoyed "essentially a monopoly" on solar wafers and solar cells that has prevented robust domestic solar manufacturing, he said.
4. The International Energy Agency (IEA) pointed out in the World Energy Outlook 2023 launched on Oct.24 that the energy world is set to change significantly by 2030: Nearly 10 times as many electric cars; Renewables make up 80% of new power; Electric heating outselling gas boilers; Fossil fuel demand has peaked.
5. Xinyi Solar, a solar PV glass manufacturer, plans to vote on issuing 989 million shares in an extraordinary general meeting on Nov. 7 to fund various expansion projects. Its plans include a solar glass production line in Melaka, Malaysia, a PV module front sheet line in China's Yunnan province, and a lightweight, highly-transparent glass line in China's Jiangsu province.
6. Chinese autonomous driving startup Pony.ai has reportedly secured a USD100 million investment from Neom Investment Fund, the investment arm of Neom, Saudi Arabia's flagship urban development project, Securities Times reported. Neom announced yesterday the establishment of NIF, which aims to support the buildout and development of Neom's 14 priority sectors and deliver long-term value while enabling the creation of jobs in Neom.
7. On Oct. 25, Tongwei announced that the company achieved an operating income of CNY 37.352 billion in 2023Q3, a year-on-year decrease of 10.52%; net profit was CNY 3.031 billion, a year-on-year decrease of 68.11%. The company's operating income in the first three quarters was CNY 111.421 billion, up 9.15% YoY; net profit was 16.302 billion yuan, a year-on-year decrease of 24.98%.
8. On Oct. 25, the Japan Mobility Show in Tokyo kicked off and will run through Nov. 28. As the first Chinese carmaker to attend the show, BYD today displayed models such as battery compact EV Seal, luxury brand Yangwang's U8 SUV, and the Denza D9 MPV.
9. On Oct. 25, shares of Hubei Heyuan Gas rose after the Chinese supplier of industrial gases said it had received a CNY600 million (USD82.1 million) order for electronic gases from leading solar panels maker Jinko Solar Holding.
10. On Oct. 24, the LNG carrier SPIRIT OF HELA, fully loaded with 80,000 tons of liquefied natural gas, docked at Sinopec's Qingdao LNG receiving terminal. The ship comes from Papua New Guinea, a country along the "Belt and Road". Qingdao LNG receiving station has received and unloaded the 600th ship of LNG in total. So far, the station has received and unloaded more than 42 million tons of LNG, and its gasification export volume has exceeded 44 billion cubic meters.
