Author: Lexy Li

29 Sep India Approves New Round of Incentive Scheme to Support Solar Module Industry

Posted at 12:43 by Lexy Li

The Indian government has approved an additional INR195bn (USD2.4bn) funding for a new round of production-linked incentive (PLI) scheme to promote the production of high-efficiency solar photovoltaic (PV) modules, as reported by the Economic Times on September 22. Under the scheme, selected manufacturers will receive...

29 Sep Mitsubishi Plans for A Large Ammonia Hub in Texas

Posted at 12:34 by Lexy Li

Japanese trading house Mitsubishi Corp [8058:JP] is mulling constructing one of the world's largest ammonia production facilities in Texas, as reported by Nikkei Asia on September 28. On the same day, the Japanese company signed a memorandum of understanding (MOU) with the Corpus Christi port...

27 Sep Foxconn to Set up Indonesian JV to Manufacture EVs and Batteries

Posted at 16:37 by Lexy Li

Hon Hai Precision Industry [2317:TT], commonly known as Foxconn, will establish a joint venture (JV) in Indonesia with local energy company Indika Energy [INDY:IJ] to build electric vehicles (EVs) and batteries, as reported by Nikkei Asia on September 23. Foxconn would invest USD1.75m in the JV...

27 Sep POSCO to Invest USD14.1bn to Cut Carbon Emissions

Posted at 16:30 by Lexy Li

South Korean steelmaker POSCO Holdings [005490:KS] will invest KRW20tr (USD14.1bn) to reduce carbon emissions from its operations, as reported by Nikkei Asia on September 23. To replace polluting old blast furnaces, the company will construct two electric furnaces, one at its Gwangyang factory and the...

26 Sep Chinese EV Maker Leapmotor to Raise USD800m with Hong Kong IPO

Posted at 19:18 by Lexy Li

Chinese electric vehicle (EV) manufacturer Zhejiang Leapmotor Technology (Leapmotor) will price its Hong Kong initial public offering (IPO) at HKD48 (USD6.12) per share with a goal of raising USD800m, as reported by Reuters on September 25. Leapmotor said last week that it planned to sell...

21 Sep Indonesia Passes Personal Data Protection Bill

Posted at 15:31 by Lexy Li

Indonesia's parliament has enacted a personal data protection bill after discussions for more than a year, as reported by Reuters on September 20. Under the new law, data handlers who leak or misuse private information might face up to five years in prison. In addition,...

21 Sep LG Electronics to Produce Solar Energy to Support Power Usage

Posted at 15:18 by Lexy Li

LG Electronics [066570:KS] has inked a memorandum of understanding (MoU) with GS EPS, a power production firm of the South Korean GS Group [078930:KS], to procure renewable energy for its facilities, as reported by the Korea Economic Daily on September 19. According to the MoU,...

21 Sep China to Issue Rules to Strengthen NEV Battery Recycling Management

Posted at 15:10 by Lexy Li

China’s Ministry of Industry and Information Technology (MIIT) will expedite the formulation of management guidelines for recycling new energy vehicle (NEV) batteries, as reported by China Daily on September 19. According to MIIT official Huang Libin, the ministry will keep looking for technical advancements in...

15 Sep BYD to Launch Three EV Models to Strengthen Presence in Japan

Posted at 13:26 by Lexy Li

China’s car maker BYD [1211:HK] is planning to launch three new models of electric vehicles (EVs) in 2023 in Japan, as reported by Nikkei Asia on September 13. In January 2023, BYD will sequentially release the midsize sport utility vehicle Atto 3, the hatchback compact...

15 Sep South Korea Fines Google and Meta USD72m for Breaching Personal Information Rules

Posted at 13:18 by Lexy Li

South Korea’s Personal Information Protection Commission (PIPC) decided to impose a total fine of KRW100bn (USD72m) on Google [GOOG:US] and Meta [META:US] for collecting personal information without users' consent and using it to distribute personalized advertisements online, as reported by the Korea Herald on September...

14 Sep Toyota Tsusho to Build 540 MW Wind Power Plant in Hokkaido

Posted at 13:59 by Lexy Li

Toyota Tsusho [8015:JP], a Japanese trading business, will build a wind power plant with a capacity of 540 megawatts (MW) in Hokkaido next year to transport renewable energy to Tokyo, as reported by Nikkei Asia on September 13. The new facility is expected to double...

01 Sep Indonesia EV supplier VKTR Mulls USD45m IPO

Posted at 10:38 by Lexy Li

Indonesia’s electric vehicle (EV) technology company PT VKTR Teknologi Mobilitas (VKTR), a subsidiary of PT Bakrie & Brothers [BNBR:IJ], announced its plan to raise USD45m through an IPO on the Indonesia Stock Exchange in November, as reported by Nikkei Asia on August 30. The company...

31 Aug POSCO Finishes Construction of EV Battery Recycling Plant in Poland

Posted at 15:55 by Lexy Li

South Korea’s POSCO Holdings [005490:KS] has finished building a recycling facility for electric vehicle (EV) batteries in Poland, as reported by the Korea Economic Daily on August 26. This facility, which is situated in Brzeg Dolny, can treat 7,000 tons of used batteries and production...

31 Aug China, US Reach Audit Deal to Mitigate Delisting of Chinese Stocks

Posted at 15:52 by Lexy Li

The China Securities Regulatory Commission and the US Public Company Accounting Oversight Board (PCAOB) have inked an agreement for cooperation in regards to the inspection of audit documents of US-listed Chinese companies, as reported by Reuters on August 27. According to the agreement, the US...

31 Aug Shanghai’s Lingang to Further Boost Hydrogen Development

Posted at 15:47 by Lexy Li

Shanghai's Lingang New Area has established a set of regulations to support the local development of a hydrogen industry, as reported by Sina Finance on August 26. In Lingang, the city plans to build a fuel cell and hydrogen energy industrial system and expedite the...