Report: China now makes enough batteries for global EV production
Green Car Reports
APRIL 15, 2024
China already has enough battery manufacturing capacity to supply all global EV production, according to Bloomberg New Energy Finance.
Polestar lands huge finance package as Polestar 3 production begins in China
The Driven EV News
FEBRUARY 28, 2024
Polestar lands billion dollar financing package to boost sales of the Polestar 4 and Polestar 3, which has now begun production in China. The post Polestar lands huge finance package as Polestar 3 production begins in China appeared first on The Driven.
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LFP Cathodes — Made in Morocco, Financed by China, Exported to the West
CleanTechnica EVs
OCTOBER 6, 2023
The USA has effectively locked out Chinese batteries from its domestic market, but what if components like LFP cathodes are made in Morocco, in a factory financed by a Chinese–Korean partnership? Looks like there is more than one way to skin a cat. Sounds complicated, but it might just work, as Morocco has a free […]
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BloombergNEF reports 11% year-on-year rise in renewable energy financing in the first half of 2022, for a total of $226B
Green Car Congress
AUGUST 2, 2022
Wind project financing was up 16% from 1H 2021, at $84 billion. Both sectors have been challenged recently by rising input costs for key materials such as steel and polysilicon, as well as supply chain disruptions and rising financing costs. China is well on track to hit its 1,200 gigawatt wind and solar capacity target by 2030.
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MagREEsource secures €5M in financing; opening first pilot magnet recycling facility in Grenoble
Green Car Congress
FEBRUARY 7, 2023
MagREEsource, a 2020 spin-off of the CNRS-Institut Néel that is commercializing processes for recycling rare-earth magnets and then remanufacturing new magnets from the recycled powders, has secured €5 million in financing and has opened its first pilot facility in Grenoble, with a capacity of 50 tons by 2023.
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EIA: As of 2021, China imports more LNG than any other country
Green Car Congress
MAY 3, 2022
In 2021, China imported more liquefied natural gas (LNG) than any other country, according to data from Global Trade Tracker and China’s General Administration of Customs, gathered by the US Energy Information Administration (EIA). China’s LNG imports averaged 10.5 In 2021, China imported LNG from 25 countries.
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NIO launches Battery as a Service (BaaS) in China; battery swap system
Green Car Congress
AUGUST 21, 2020
Premium EV manufacturer NIO has launched Battery as a Service (BaaS) for customers in China. With the battery price not included in the vehicle sales price, nor in the finance payments, the costs are significantly lower to switch to an EV. NIO battery swap station. NIO’s 84 kWh battery for the ES6.
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BloombergNEF: clean energy investment in developing nations slumps as financing in China slows; coal burn surges to record high
Green Car Congress
NOVEMBER 26, 2019
New investment in wind, solar, and other clean energy projects in developing nations dropped sharply in 2018, largely due to a slowdown in China. China, both the world’s largest CO 2 emitter and largest market for clean energy production and consumption, played a crucial role in the story. billion and $2.7
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Tesla China promotes Model 3/Y’s affordability with new incentive program
Teslarati
APRIL 3, 2024
Tesla China is starting the second quarter with new incentives for customers in the form of limited-time finance policies such as low downpayment offers and zero-interest loans. Tesla China leaned into its vehicles’ affordability in its post on Weibo. Change the car into a Tesla.
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GlobalData: China to overtake US in nuclear capacity by 2026
Green Car Congress
SEPTEMBER 10, 2020
China is on track to have the largest nuclear power generation fleet of 93GW and is set to overtake the US by 2026, according to research and analytics company GlobalData. China alone is set to account for more than 50% (83GW) of the new capacity built, followed by India with 8.9% (14.5GW) and Russia with 6.4% (10.5GW).
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Tesla China launches new incentives on Model 3 and Y for March
Teslarati
MARCH 1, 2024
Tesla China has launched a series of new incentives on the Model 3 and Model Y for March, including discounts on paint, low-interest financing, and limited-time insurance programs. However, China is also a super competitive region for electric vehicles, and several domestic companies have worked extremely hard to dethrone Tesla.
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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads
Green Car Congress
JULY 21, 2022
New refining capacity growth includes several high-profile, high-capacity refinery projects underway, particularly in China and the Middle East, which could add more than 4.0 The most global refining capacity under development is in China. In its June 2022 Oil Market Report, the IEA expects net global refining capacity to expand by 1.0
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Baker Institute report: China has positioned itself as a gatekeeper to the energy transition; nickel case study
Green Car Congress
APRIL 21, 2022
Widely ignored, although gaining attention, is China’s strategic positioning as a crucial gatekeeper to several key “green” technologies, including battery energy storage to support electric vehicles (EVs)—specifically, battery electric vehicles (BEVs)—along with stationary storage for power grids.
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Hyundai Motor partners with regional firms to establish H2 fuel cell commercial vehicle ecosystem in China
Green Car Congress
NOVEMBER 5, 2020
Hyundai Motor Company is spearheading the development of a hydrogen fuel cell commercial vehicle ecosystem in China with regional partners. Hyundai believes China has a massive potential for hydrogen powered commercial vehicles. Hyundai believes China has a massive potential for hydrogen powered commercial vehicles.
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XPeng enters into cooperation agreement for new smart EV manufacturing base in Guangzhou; $586M in financing
Green Car Congress
SEPTEMBER 28, 2020
Chinese EV contender XPeng announced that its wholly owned subsidiary in China, Guangdong Xiaopeng Motors Technology Co., Early in August, Xpeng reported closing a US$900-million C+ financing round. entered into a cooperation agreement with Guangzhou GET Investment Holdings Co.,
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Tesla Offers Loans In China For EV Buyers To Make EVs More Affordable
CleanTechnica EVs
NOVEMBER 2, 2021
Tesla is now offering vehicle financing services to its customers in China, reports the South China Morning Post. The goal is to make its made-in-China EVs more affordable. The financing includes options where buyers don’t even have to pay a down payment.
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Polestar enters into strategic partnership with Industrial Bank in China
CN EV Post
OCTOBER 20, 2022
The two will cooperate globally in credit financing, retail lending, and international business. The post Polestar enters into strategic partnership with Industrial Bank in China appeared first on CnEVPost. For more articles, please visit CnEVPost.
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Tesla China announces 0% down ‘Financial Leasing’ with buy-out options
Teslarati
NOVEMBER 1, 2021
Tesla China has announced a new “Financial Leasing” plan for more affordability as it offers the option of 0% down to purchase a vehicle, as well as several other financing options. Widespread EV adoption is already occurring in China, and Tesla is among the most popular manufacturers in the market.
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Pinnacle Engines appoints Asian Business Advisory Board; closes Series C financing
Green Car Congress
MAY 8, 2014
Pinnacle Engines also announced closure of its Series C financing, bringing total investment in the company to more than $30 million. Before Geely, Freeman was CEO of Fiat Powertrain China and President of China operations at BorgWarner Inc. Phil is also a member of Pinnacle’s Board of Directors.
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National Electric Vehicle Sweden halts production while it sorts out financing
Green Car Congress
MAY 21, 2014
National Electric Vehicle Sweden (NEVS), the company resurrecting the Saab brand ( earlier post ), has halted production of its vehicles (currently at 6 units per day) while it sorts through financing issues and aligns its strategy with new OEM partners. Ltd, has not fulfilled its contractual obligation to finance the operations, NEVS said.
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New JV in China to produce high-grade Li-ion power battery materials
Green Car Congress
APRIL 8, 2022
Yilong Investment is obliged to use reasonable efforts to obtain, on behalf of the JV, national-level tax incentives and favorable government treatments, and will coordinate with local financial institutions to provide financing to the JV. which was the first company in China to produce anode materials for lithium batteries at a large scale.
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China extends EV tax exemptions totaling $72 billion through 2027, the largest tax break to date
Electrek
JUNE 21, 2023
China’s Ministry of Finance has confirmed that tax exemptions for New Energy Vehicles (NEVs) scheduled to expire at the end of this year have been extended through 2027. Consumers in China will now be able to take advantage of EV tax breaks amounting to over $4,000 per vehicle to start, which will dwindle down over the next four years.
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Battery maker EVE Energy and partners set up lithium salt JV in Hunan
Green Car Congress
JULY 23, 2022
This will include medium-term bills, short-term financing bonds and ultra-short-term financing bonds. The first phase of the project will have an annual output of 30,000 tons of lithium carbonate and lithium salt, with a corresponding investment of about 900 million yuan (US$133 million).
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Waste-to-biofuels company Enerkem raises C$280M, its largest financing round
Green Car Congress
FEBRUARY 6, 2018
In addition to new investors BlackRock and Sinobioway, existing investors also participated in this financing. This new and significant financing will help accelerate our growth and further expand project development and implementation. Canada-based Enerkem Inc., Earlier post.).
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IEA: nuclear power can play a major role in transition to low emissions energy systems; Russia, China leading on new reactor starts
Green Car Congress
JULY 4, 2022
Government financing will remain necessary to mobilise new investment, not just for plants but also to develop the latest technologies. This is because there is rarely sufficient private sector finance for such capital-intensive and long-lived assets, particularly those exposed to significant policy risk.
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BMW Group to build future MINI E vehicles in China with Great Wall Motor
Green Car Congress
NOVEMBER 29, 2019
The BMW Group and Great Wall Motor have launched a new joint venture—Spotlight Automotive Limited—and are building a joint plant in China, where the BMW Group will produce future fully-electric models of its MINI brand. Jiangsu is also one of the leading provinces for finance, education and technology.
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China will cut electric vehicle subsidies by end of 2022
Teslarati
JANUARY 3, 2022
China announced that it would eliminate subsidies that encourage consumers to purchase electric vehicles by the end of 2022. The subsidy cuts will only apply to new energy vehicles (NEVs), which China defines as any plug-in electric vehicle that qualifies for public subsidies.
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Report: China now makes enough batteries for global EV production
Baua Electric
APRIL 15, 2024
China already has enough battery manufacturing capacity to supply all global EV production, according to Bloomberg New Energy Finance. China’s declared 2023 battery production alone was close to the actual global demand, according to BNEF, which notes that the U.S.,
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President of Mexico nationalizes lithium
Green Car Congress
FEBRUARY 20, 2023
A number of foreign companies are interested in developing lithium deposits in Mexico; in September 2022, the finance ministry valued the lithium deposit in Sonora state as worth as much as 12 trillion Mexican pesos (US$653 billion, currently). What we are doing now.
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Autonomous truck company Inceptio Technology raises US$188M in Series B+
Green Car Congress
MARCH 7, 2022
Inceptio Technology, an autonomous driving truck technology and operation company ( earlier post ), closed a US$188-million Series B+ equity financing. This round of financing was jointly led by Sequoia Capital China and Legend Capital. Existing investors Meituan, NIO Capital, Eight Roads, Broad Vision Funds, etc.
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Ukraine state oil and gas company signs $3.656B credit agreement with China Development Bank to finance substituting natural gas with coal
Green Car Congress
DECEMBER 27, 2012
The Ukraine state oil and gas company Naftogaz signed a US$3.656-billion credit agreement with the state-owned China Development Bank to finance the program of substituting natural gas with locally produced coal. The program is aimed at improving Ukraine’s energy security and alleviating dependence on foreign natural gas.
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Nissan unveils LEAF-based Sylphy BEV at Auto China 2018
Green Car Congress
APRIL 25, 2018
Nissan unveiled the Nissan Sylphy Zero Emission, Nissan’s first electric car made in China for Chinese consumers, at Auto China 2018 in Beijing. More information will be available at a later date, including service and financing options. The new Sylphy Zero Emission is the next step in our electrification strategy for China.
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Westinghouse files for Chapter 11 protection in US and secures $800M in DIP financing to fund operations
Green Car Congress
MARCH 29, 2017
Westinghouse has obtained $800 million in debtor-in-possession (DIP) financing from a third-party lender to help fund and protect its core businesses during its reorganization. The financing will also allow for new letters of credit to be issued. Existing letters of credit have been cash collateralized in full and will remain in place.
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Green Car Congress
APRIL 2, 2022
A pilot project in China is now working on business models for efficient battery swaps. In the pilot project in China, Mitsubishi Corporation as commercialization partner and Bosch are working with BPSE. Around 15 million fleet vehicles are going to be electrified in China alone.
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Fisker secures $100+ M in initial closing of new equity financing
Green Car Congress
SEPTEMBER 27, 2012
Fisker Automotive has completed the initial closing of its current equity financing, representing in excess of $100 million of new funding. This initial closing will provide the company with funding for continued product development, market expansion and a new global marketing campaign for the Fisker Karma extended range electric vehicle.
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SK Innovation to invest $354M to build Li-ion battery separator plant in China
Green Car Congress
OCTOBER 9, 2018
million) to build a Li-ion battery separator plant in China. We will also continue to work with China as the world’s premiere technology developer. in China, a wholly owned subsidiary, to finance the investment in the country. SK Innovation will invest 400 billion won (US$353.8 —SK Innovation CEO Jun Kim.
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Tesla China halts 0% minimum downpayment program after surge in vehicle orders
Teslarati
NOVEMBER 4, 2021
Tesla’s ambitious 0% minimum downpayment program for China has been canceled just days after the option was introduced. With the 0% minimum downpayment option now removed by the company, interested customers from China could now acquire their Teslas for a minimum 10% downpayment instead. .
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Geely’s Farizon Auto secures more than $300M through Pre-A funding
Green Car Congress
NOVEMBER 2, 2022
Farizon Auto, the new energy commercial vehicle brand from Zhejiang Geely New Energy Commercial Vehicle Group (a subsidiary of Geely Holding) raised more than US$300 million in its first external financing round. This Pre-A round of investment was led by Hidden Hill Capital, which is backed by Singapore’s GLP. Earlier post.).
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Volkswagen Group investing $700M in XPENG for 5% stake, VW EV development; Audi jointly developing EVs with SAIC
Green Car Congress
JULY 27, 2023
The China-specific vehicles will supplement the MEB product portfolio and are to be rolled out in 2026 in China. —Stefan Mecha, CEO VW Brand Region China Audi has signed a strategic memorandum with its Chinese joint venture partner SAIC to further expand existing cooperation.
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CNPC’s first hydrogen station in Beijing in operation
Green Car Congress
SEPTEMBER 5, 2021
China National Petroleum Corporation (CNPC) recently put its first hydrogen station in Beijing into operation. Based in China, it has oil and gas assets and interests in more than 30 countries in Africa, Central Asia-Russia, America, the Middle East, Asia-Pacific, and other regions. In China, CNPC has 22,62 service stations.
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Tesla China kicks off 2023 with new delivery, insurance, and trade-in incentives
Teslarati
DECEMBER 31, 2022
Tesla China seems intent on starting 2023 on a strong note. As the new year started in China, the electric vehicle maker made its current offerings more attractive to customers through a set of new, compelling incentives. . China is not only the world’s largest electric vehicle market; it is also arguably the most competitive.
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Tesla China sells record 83,135 vehicles from Giga Shanghai in September: CPCA
Teslarati
OCTOBER 9, 2022
Tesla China hit another record in September, with the company selling 83,135 wholesale units over the month. The data was released by the China Passenger Car Association (CPCA). Prior to September, Tesla China’s best-selling month was in June, when the electric vehicle maker posted wholesale units of 78,906 vehicles.
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Tesla stock narrowly misses losing streak record, aided by China sales
Teslarati
MAY 6, 2023
Tesla stock narrowly missed a weekly loss record that it has avoided since 2021, likely thanks to a solid sales report from China. This rebound was likely prompted by a successful April sales report from China. The post Tesla stock narrowly misses losing streak record, aided by China sales appeared first on TESLARATI.
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