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You can expect more of that to come as Chinese automakers will only get better, particularly as Western governments and automakers (yes, including you, Porsche ) unwisely pull back on EV goals, leaving room for China to step up and become more prominent globally.
31 January 2025 Read next Autovista Groups 2025 residual value outlook 30 January 2025 Read next Strong growth for the EU LCV market in 2024 30 January 2025 Read next New and used-car values in Poland impact international markets 29 January 2025 Major carmakers have made clear their powertrain priorities.
Collider projects take years to plan and billions of dollars to finance. In March 2025, Calzolari and his colleagues submitted an internal proposal for a preliminary demonstration of the cooling technology, which they hope will happen before the end of the decade. By definition, its an international project, Gao says.
The recovery and subsequent demand growth are underpinned by the green agendas being targeted by many national governments and international bodies looking to reduce carbon emissions. In 2020, Chinese mine production of rare earths is expected to reach 110kt, falling back from 2019, though continuing to represent >55% of global mine output.
At least two Chinese automakers are bringing some of their new energy vehicles—hybrid, plug-in hybrid and battery-electric—to two of the major international auto shows in the first quarter of this year. Click to enlarge. Guangzhou Automobile Group Co., GAC Group ranks No. GAC Group ranks No.
In addition to the latest equity raising, Xpeng Motors has also successfully diversified its funding sources by securing several billions of RMB-denominated unsecured credit lines from leading Chinese and international banks including China Merchants Bank, China CITIC Bank and HSBC. Xpeng Motors achieved numerous milestones this year.
This financing round comes on the heels of continued WiTricity business momentum. WiTricity also worked closely with the CEC to support the ratification of the Chinese national GB standard (GuoBiao) for wireless EV charging. —Mitsumasa Icho, Executive Vice President, Group CEO, Urban Development Group, Mitsubishi Corporation.
The company also signed a separate MOU with China Iron and Steel Research Institute Group (CISRI) and Hebei Iron and Steel Group (HBIS Group) for an equivalent aim in Jing-Jin-Ji area as it introduced Hyundai XCIENT Fuel Cell heavy-duty truck for the first time in China at the 2020 China International Import Expo (CIIE).
The growth capital and Chinese government incentives will be used predominantly to scale manufacturing, research and development, and business development activities in China for the company’s energy storage technology and products. Boston-Power, Inc., GSR Ventures has offices in Beijing and Silicon Valley.
Looking at the third-quarter global investment figures by type, asset finance of utility-scale renewable energy projects came to $49.3 billion convertible issue from waste-to-energy specialist China Everbright International and a $311-million IPO by US fuel cell developer Bloom Energy. In 3Q, Chinese solar investment was $14.2
This progress includes advanced internal combustion engines; efficient transmissions; lightweight materials; and hybrid and other energy-saving technologies. 2012 Chinese Auto Industry Development Report. Energy-saving and new energy vehicles have become the development direction of the international automobile industry.
He made the remarks during the 2009 International Forum on Chinese Automotive Industry Development (IFCAID) held last week in Tianjin. Ren added that State Administration of Taxation and the Finance Ministry are also considering levying a car emission tax in future.
BYD Auto, the Chinese automaker part-owned by a Warren Buffett company, plans to introduce a limited number of its e6 electric crossovers in the US next year, according to BYD Chairman Wang Chuanfu in an interview with the Wall Street Journal. Earlier post.). Earlier post.). The e6 at NAIAS in January. Click to enlarge.
As part of the partnership, Hertz will rent BYD’s e6 electrical vehicle (EV) to Chinese consumers, municipalities and government agencies. The core technology of BYD’s e6 is BYD’s internally developed lithium iron-phosphate (FE) battery technology. million yuan ($43 million), based on Chinese accounting standards.
in financing ( earlier post ), conditionally secures medium-term funding and includes financing in the form of subscription agreements in the amount of €150 million (US$222 million) as well as a strategic alliance for China including joint ventures on manufacturing, technology and distribution. Spyker Cars N.V.
BAIC) to explore growth opportunities in the Chinese and international markets for the products of SAAB Automobile and BAIC. GM is also currently working to sort out the reorganization and financing of Opel following its decision not to sell. Earlier post.). Earlier post.).
The International Energy Agency (IEA) estimates that global refining capacity decreased by 730,000 barrels per day (b/d) in 2021—the first decline in global refining capacity in 30 years. In the United States, refining capacity has decreased by about 1.1 The most global refining capacity under development is in China.
The Chinese government initially overestimated consumer demand for electric vehicles, and has made adjustments to its incentive policies. Price will be a major barrier to growth on the demand side, Pike notes, especially given China’s reliance on cash sales over financing. Even with subsidies, PEVs—at up to twice the price of a.
BAIC) to explore growth opportunities in the Chinese and international markets for the products of SAAB Automobile and BAIC. We have a solid business plan, an important partnership and we are now in a position to go ahead without any governmental financing. Koenigsegg Group will own 100% of SAAB Automobile AB.
To counter this trend triggered by China’s rapid motorization, the Chinese government is adopting a broad range of policies, including improvements in the fuel economy of new vehicles and the promotion of alternative-fuel vehicles, EIA notes. China vehicle sales and gasoline consumption. l/100 km) by 2015 and 47 miles per gallon (5.0
AOSC) has entered into a series of agreements with PetroChina International Investment Company Limited (PetroChina International), a wholly-owned subsidiary of PetroChina Company Limited (PetroChina), pursuant to which PetroChina will acquire a 60% working interest in AOSC’s MacKay River and Dover oil sands projects for a consideration of C$1.9
An executive from Chinese automaker BYD has called Tesla a “partner” in electrifying the transportation sector, noting the U.S. “Without [Tesla], I think the global EV market could not run so rapidly,” Li said to Yahoo Finance anchor Akiko Fujita. “So we respect them a lot.
Incurrence of the remaining $50 million of loans under the Senior Secured Bridge Facility would be subject to the satisfaction of certain approvals and conditions, including receipt of favorable determination from CFIUS and receipt of Chinese government approvals. —Weiding Lu, CEO of Wanxiang Group.
The ride-hailing joint venture will begin operating in Hangzhou, a city of more than 10 million people that is home to leading Chinese companies including Geely Holding, and some of the country’s leading technology businesses. Tom Gu joined StarRides on 1 September 2019 as Chief Executive Officer, leading a staff of 80 employees.
UK-based TMO Renewables Ltd, the developer of a novel thermophilic bacterium and process for converting biomass into fuel ethanol ( earlier post ), completed an £11 million (US$18 million) financing round from a range of institutional shareholders and private investors.
A newly released report financed by the World Bank and prepared by consultancy PRTM analyzes China’s New Energy Vehicles Program, as well as the Ten Cities, Thousand Vehicles Program, in the context of these megatrends and concludes that the overall value chain shift could favor China from both a technological and supply chain perspective.
The project involves strong partnerships, commitments, and support from domestic technology and equipment suppliers such as Phillips 66 and Harper International, validation partners such as Oak Ridge and Argonne National Labs, and cell manufacturers and automotive original equipment manufacturers (OEMs).
During the late innings of the ICE-age (as in the Internal Combustion Engine age) it has become clear that feeding gasoline and diesel to the next billion new cars is not going to be easy, or cheap. But suppose your new car is up to current Chinese standards (~35 mpg). by Henry Hewitt for Oilprice.com.
and China markets, while the Russian Finance Ministry recently backed away from a tax proposal which Russian crude producers said would reduce their output. The Finance Ministry sought a change in the mineral extraction tax formula to generate an additional 609 billion rubles in 2015 and 1.6
Buyers of electric vehicles will receive up to 60,000 yuan ($8,800), and buyers of certain gasoline-electric hybrids as much as 50,000 yuan, under the two-year program set to start this year in five cities—Shanghai, Hangzhou, Changchun, Shenzhen and Hefei—the ministry of finance said Tuesday. It plans to sell 50,000 electrics in the U.S.,
China’s Zhejiang Geely Holding Group (ZGH) has raised $400 million through the first Green Bond sale on the offshore market from a Chinese automobile company to support the design, development and production of range-extended electric vehicles by its UK subsidiary, the LondonTaxi Company (LTC), manufacturer of the iconic London Black Cab.
Canada, Mexico (foreign investment), and also Russia (Chinese investment), that will have the financial wherewithal to grow output to satisfy the 18 million barrel per day increase in demand that OPEC sees by 2040. in Russian and Soviet history, Soviet economics, and International economics, and MBA in finance and marketing.
With an increasing amount of Li-ion battery raw material refining and processing centred in China, and it being front-and-center of Li-ion demand growth, Chinese Li-ion value chain participants have turned to Australia, Africa and South America to secure the feedstock necessary for their downstream requirements.
Theyre delaying their EV plans, rejiggering factories, and acknowledging what some clear-eyed observers (including IEEE Spectrum ) suspected all along: Not every car buyer is ready or able to ditch the internal-combustion engine entirely, stymied by high EV prices or unnerved by a patchy, often-unreliable charging infrastructure.
The delivery figures also include the vehicles sold by the Chinese joint ventures. The business of the Chinese joint ventures is not included in the Group’s sales revenue and operating profit, however. The share of operating profit attributable to the Chinese joint ventures in 2015 remained at approximately €5.2 Hong Kong), 3.4%
In November XPeng founder He Xiaopeng announced the emerging Chinese electric start-up would launch a record four new models in 2025. But at last weeks official launch of XPengs new flagship store in Sydney, the brands global finance and accounting vice president James Wu confirmed the model roll-out plan was significantly more ambitious.
Image from Enovate's Weibo) Enovate Motors, the Chinese new energy vehicle (NEV) startup that announced late last year that it would build a production base in Saudi Arabia, is actually facing financial woes in its home market. Enovate has closed eight financing rounds totaling more than RMB 11.5
According to an independent study by CEEW Centre for Energy Finance (CEEW-CEF), the EV market in India will be a US$206 billion opportunity by 2030 if India maintains steady progress to meet its ambitious 2030 target. Many state governments have already started procuring electric buses from Chinese and local electric bus manufacturers.
Oversupply and weak prices are dampening cashflows of Western start-ups, making it more difficult to compete with a Chinese government investment strategy that takes a long-term view, TechMet CEO Brian Menell said in an interview. government’s International Development Finance Corp is one of TechMet’s biggest investors.
EVs are still the future The sudden revival of plug-in hybrids is predicted to peak at 10% of the market Sales of PHEVs is predicted to call as battery prices drop and EVs become less expensive Plug-in hybrids are experiencing a sales resurgence , but they’re unlikely to surpass EVs in the long term, predicts Bloomberg New Energy Finance.
Speaking broadly, though, all come up with the same conclusion: The CO2 intensive mining industry we have today and the manufacturing of an electric car results in more emissions than an equivalent internal combustion engine (ICE) vehicle. But over the life of the vehicle the ledger very much swings in the favour of EVs over ICE.
.” A representative for the Chinese Embassy in Ottawa did not respond to a request for comment. Chinese firms own, operate or finance most of the Democratic Republic of Congo’s cobalt mines, the Labor Department said in a recent report. Last year, a U.S.
The analyst asked a follow-up question about Chinese competitors, which could copy Tesla’s vehicles. “I don’t know what our Chinese competitors can do,” he said. Musk noted that Optimus is able to perform simple tasks, and Tesla will attempt to do an initial production for Optimus for internal use this year.
Based on the data up to July 2024, Ember’s analysis is in line with forecasts made by Bloomberg New Energy Finance ( BNEF ). But interestingly, it’s also almost 200 GW higher than the International Energy Agency’s ( IEA ) main case outlook released in January 2024.
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