GreenergyDaily
Mar. 18, 2024
1. China's NEV penetration rate may exceed 50% in the next three months, as the figure surpassed 48% last week, BYD's Chairman Wang Chuanfu said at the ChinaEV100 Forum on March 16. This may put NEVs at a dominant position in the Chinese car market, Wang added.
2. Tesla China is aware of the price hikes in the US market, but it's not clear whether prices will adjust domestically, the Chinese unit of the US EV giant told China Securities Journal yesterday. Tesla plans to raise US prices of the ModelY by USD1,000 from April 1.
3. The Sichuan-Chongqing 1,000kV UHV AC project, which will include 4 UHV substations in Chongqing and Sichuan in southwest China, has seen its Chongqing section fully connected. The project is expected to transmit about 35 billion kWh of electricity a year upon completion.
4. He Xiaopeng, CEO of Xpeng, said at the ChinaEV100 forum that the company will soon debut a new brand, priced between CNY100,000 and CNY150,000 (USD13,900 and USD20,900). The brand will have several models, all with smart driving capabilities, the Chinese EV startup said.
5. The power generation of China's major electricity production enterprises totaled over 1.48 trillion kWh in the first two months of 2024, up 8.3% YoY, led by a 15.4% growth of solar electricity, data from the National Bureau of Statistics showed Monday.
6. The world's biggest producer of batteries for electric cars has just hit a rare pothole. On Friday Contemporary Amperex Technology(CATL) revealed that earnings for the quarter to the end of December had fallen 1.2% compared with a year earlier - the first such decline since early 2022. Yet founder and Chair Robin Zeng seems ever more determined to rev up production.
7. China's Ministry of Industry and Information Technology has reported that as of the end of 2023, the country's charging infrastructure had increased to a total of 8.596 million units, which is an impressive 65% year-on-year increase. This means that China now boasts the world's largest and most extensive charging infrastructure system, covering a wider area than any other country in the world.
8. China National Offshore Oil, China's largest offshore oil company, has appointed Zhou Xinhuai, a geoscience expert, to become its new general manager. Before this, Zhou was also the chief executive of the state-owned firm's listed subsidiary.
9. Former President Donald Trump said he would hit cars made in Mexico by Chinese companies with a 100% tariff, double the levy he has previously said he would put on automobiles made south of the U.S. border, according to The Detroit News.
10. Saudi Arabia offers significant growth potential for foreign banks operating in the Kingdom to meet the increasing demand from Chinese clients, according to a senior banker. Speaking to Arab News, Jerry Zhang, CEO of Standard Chartered Bank China, noted that the company is strengthening its infrastructure and services to better support Chinese clientele in Saudi Arabia, indicating confidence in the market's potential.
