Wind and solar energy will account for about 50 percent of the total power produced in the world by 2050, aided largely by lower production costs, with China leading the revolution, a new report said.
On July 31, the Ministry of Finance together with the State Administration of Taxation, the Ministry of Industry and Information Technology (MIIT) and the Ministry of Transport jointly announced that new energy vehicles (NEV) and vessels will be exempt from vehicle and vessel tax, and such tax for energy-saving vehicles will be halved. At the […]
With economic growth and strong policy support, China’s electric vehicle industry has experienced rapid growth. From 2013 to 2017, the production of electric vehicles in China increased from 18,000 in 2013 to 794,000 in 2017 at a compound growth rate of 159.4%, and the sales increased from 18,000 in 2013 to 777,000 in 2017 at […]
China National Development and Reform Commission, Ministry of Finance and National Energy Administration put brakes on the solar power industry on 31 May 2018, now known as the ‘531 policy’. The policy imposes caps on market scale, accelerates subsidy cuts and lowers the on-grid tariffs (prices paid to power producers). By 2020, solar power is expected […]
Apple has announced a new investment fund to boost clean energy in China by connecting suppliers with “renewable energy sources,” according to a press release.
Norwegian Heavy Lift Shipowner OHT Has Signed a Contract With China Merchants Heavy Industry (CMHI) for the Construction of a 48,000 dwt Semi-Submersible Offshore Wind Farm Foundation Installation Vessel
Offshore Heavy Transport (OHT), the Norwegian heavy lift shipowner, has inked a contract with China Merchants Heavy Industry (CMHI) for a semi-submersible offshore windfarm foundation installation vessel with options for three more. The first vessel will be ready for project deployment from early 2021, the company informed.
BMW Sign a $4.7 Billion Contract with China’s CATL for Battery Cells: CATL Will Build its First European EV Battery Factory in Germany
BMW plans to source 4 billion euros’ ($4.7 billion) worth of battery cells from Chinese battery maker Contemporary Amperex Technology Ltd (CATL) over the next few years, the carmaker’s purchasing boss said on Monday. The deal will allow China’s biggest lithium battery maker to build a factory to produce cells for electric cars in Europe, […]
The new three-year action plan comes after the previous plan, rolled out in 2013, expired at the end of 2017. The new plan expands PM2.5 reduction requirements to all cities nationwide. It also tightens regulations on VOCs and NOx emissions that are key to the formation of ozone pollution. The new plan still lacks specific targets on […]
Finding ways to reuse the technology is becoming more urgent as the global stockpile of EV batteries is forecast to exceed the equivalent of about 3.4 million packs by 2025, compared with about 55,000 this year, according to calculations based on Bloomberg NEF data. China, where about half the world’s EVs are sold, is […]