Russian Norilsk Nickel Negotiates Joint Venture Plant with Chinese Battery Companies
On July 18, Jiemian News, citing Reuters, reported that Russian company Norilsk Nickel is in discussions with several Chinese battery companies regarding a joint venture plant. Zhongwei New Materials and CATL’s subsidiary Brunp Recycling are among the involved parties. Norilsk and Zhongwei have not commented on the matter, and Brunp Recycling has not responded to requests.
Tesla Supercharger Deployment Slows Down
On July 18, The Global Times, citing The Wall Street Journal, reported a significant slowdown in the deployment of Tesla’s Supercharger stations. This poses a challenge to the opening of the charging network to non-Tesla vehicles. According to Supercharge.info, as of July 14, 2024, Tesla has deployed approximately 5,000 Supercharger stations this year, compared to 6,200 during the same period in 2023, marking a 19% decrease. This data indicates a noticeable slowdown in the deployment rate of Tesla’s Superchargers.
BYD to Launch Three Models in Vietnam in October
On July 18, BYD’s Chief Operating Officer in Vietnam, Vo Minh Luc, announced discussions about building a factory in Vietnam. The company aims to optimize plans to launch three new models in October. They plan to expand to 100 dealers by 2026. Tongbao Energy announced that its wholly-owned subsidiary, Tongbao Clean Energy Co., Ltd., completed the filing for a 50,000-kilowatt photovoltaic project in Wuxiang. The Wuxiang County Administrative Approval Service Management Bureau issued the “Shanxi Province Enterprise Investment Project Filing Certificate” for the project. On July 18, Hengtong Group and Xinwangda signed a cooperation framework agreement. Both parties will leverage their strengths in the new energy sector. They will collaborate on various fields, including battery materials, cell integration, and cloud integration for energy storage. Purtai and Zhongke Guneng signed a strategic cooperation agreement. On July 18, Purtai announced its commitment to developing solid-state battery technology with Liyang Zhongke Guneng New Energy Technology Co., Ltd. They will share resources and complement each other’s strengths to drive innovation and application in solid-state battery technology. In June, Shenzhen’s new energy vehicle penetration rate reached 77.4%, marking the highest monthly record. As of June 2024, Shenzhen had approximately 4.263 million vehicles, with over 1.08 million being new energy vehicles, accounting for more than a quarter. In the first half of this year, Shenzhen promoted 109,000 new energy vehicles. The penetration rate for new cars rose to 72.6%. In June, the penetration rate reached 77.4%. This means that about 77 out of every 100 newly registered cars in Shenzhen are new energy vehicles. In 2023, Shenzhen’s production of new energy vehicles reached 1.73 million units. The city now hosts over 24,000 new energy and digital energy companies. Mercedes-Benz and Starbucks announced a partnership on July 17 to install electric vehicle charging stations at over 100 Starbucks locations across the U.S. The cost of the plan remains undisclosed. CITIC Securities expects thermal power and new energy generation companies to benefit accordingly. On July 18, CITIC Securities released a report stating that a new power system still needs coal power for stability and flexibility. Accelerating the low-carbon transformation of coal power units will help balance system safety and energy cleanliness. After policy advancements, the plan aims to enhance energy security while reducing carbon emissions and improving new energy absorption capacity. However, the current investment recovery measures for low-carbon transformations need further improvement, and the enthusiasm of power generation companies for transformation requires observation. Several companies have announced timelines for solid-state battery mass production. According to the Securities Daily, Sichuan’s first solid-state battery innovation industrial park project launched in Yibin City, with a total investment of 9.5 billion yuan. This year, many global companies have announced timelines for solid-state battery mass production. The solid-state battery industry is accelerating. With the booming new energy vehicle market, solid-state batteries are moving from the research phase to mass production as an important next-generation power battery technology. Guotai Junan: Low-carbon coal power will drive the upgrade of auxiliary equipment. Carbon emission monitoring will improve rapidly.
Shichuang Energy plans to acquire registered trademarks from Eureka for 34 million yuan. On July 18, Shichuang Energy announced it will pay 34 million yuan to acquire the “Eureka” and “ULICA” trademarks, held by related party Ningbo Eureka Solar Co., Ltd. The payment will occur in full over three years. Longsheng Technology expects a net profit increase of 38.99% to 59.15% year-on-year for the first half of the year. On July 18, Longsheng Technology released a performance forecast. It anticipates a net profit of 100 million to 115 million yuan for the first half of 2024. Increased sales of its electric vehicle drive motor cores, hybrid EGR systems, and natural gas heavy-duty truck injection assemblies will drive this growth.