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BloombergNEF: clean energy investment in developing nations slumps as financing in China slows; coal burn surges to record high

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New investment in wind, solar, and other clean energy projects in developing nations dropped sharply in 2018, largely due to a slowdown in China. thousand terawatt-hours in 2018, up from 6.4 Across the 104 emerging markets surveyed in Climatescope, coal accounted for 47% of all generation. thousand in 2017. billion and $2.7

Coal 243
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Daimler and Renault-Nissan Alliance start $1B manufacturing JV in Mexico for next-gen premium compacts

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Five years after first establishing a strategic cooperation, Daimler and the Renault-Nissan Alliance have expanded their collaboration with the start of a manufacturing joint venture in Aguascalientes in central Mexico. Depending on the market development and customer demand, there will be the potential to add additional capacity.

Mexico 150
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Audi plans almost €22-billion investment through 2018; targeting 2M annual deliveries

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Between 2014 and 2018, Audi will invest a total of around €22 billion (US$30 billion) into new models, innovations and the continuous expansion of the worldwide production network. —Axel Strotbek, Member of the Board of Management of AUDI AG for Finance and Organization.

Audi 199
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Porsche launches carbon offset program in US

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Passport and Drive are set for expansion to four new markets in North America after a successful pilot in Atlanta. The available programs are focused on forest protection in the US, hydropower in Vietnam, solar energy in Mexico, and species diversity in Zimbabwe. How much does it cost?

Porsche 207
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Volkswagen Group to invest $106 billion over next 5 years in Automotive Division

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billion (US$80 billion), on a level with the planning approved in the previous year for the period from 2014 to 2018. This will allow the Volkswagen Group systematically to continue its model rollout with a view to tapping new markets and segments. These investments will be financed from the joint ventures’ own funds.

Poland 317
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IHS Markit: global commercial vehicle production to drop 22% in 2020 in wake of COVID-19

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Looking across the full year, IHS Markit is expecting a 21% decline over 2019 production volumes due to a combination of factors including COVID-19, but also the natural weakening in truck demand following unusually strong sales in 2018-19. This downturn in production reflects weaker demand throughout the region as well as in export markets.

2020 191
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BP to acquire unconventional US onshore assets from BHP for $10.5B; transforming US onshore oil & gas business

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BP intends to finance this deferred consideration through equity issued over the duration of the installments. Subject to regulatory approvals, the transaction is anticipated to complete by the end of October 2018. 320,000 boe/d from the Gulf of Mexico, and c.109,000 315,000 boe/d from the US onshore business, c.320,000

Oil 150