Author: Lexy Li

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...

24 Aug Shell Eyes Wind Projects in Australia to Promote Clean Energy Transformation

Posted at 15:08 by Lexy Li

Global Energy Company Shell [SHEL:US] is investigating more wind power investment opportunities in Australia to diversify its energy portfolio in the country, as reported by Bloomberg on August 22. Since last year, Shell has been increasing its presence in the Australian wind power market. The...

24 Aug Hyundai Motor, LG Energy Solution Secures USD710m to Fund Battery JV in Indonesia

Posted at 15:01 by Lexy Li

Hyundai Motor [005380:KS] and LG Energy Solution [3373220:KS] have secured a USD710m loan from five financial institutions at favorable interest rates to fund the building of their joint battery cell plant in Indonesia, as reported by the Korea Economic Daily on August 22. The ten-year financing...

24 Aug China to Extend Purchase Tax Exemption for NEVs to 2023

Posted at 14:47 by Lexy Li

China’s State Council decided to extend the purchase tax exemption for new energy vehicles (NEV) until the end of 2023 to boost the NEV industry, as reported by Reuters on August 19. The extension is expected to result in RMB100bn (USD14.67bn) in tax relief. On...

18 Aug Malaysia to Launch Voluntary Carbon Market to Accelerate Decarbonization

Posted at 11:22 by Lexy Li

Malaysia's stock exchange, Bursa Malaysia, will launch a Voluntary Carbon Market (VCM) by the end of 2022, allowing corporations to purchase carbon credits to offset their emissions, as reported by Reuters on August 15. Buyers and sellers in the VCM can trade carbon credits at...

17 Aug CATL to Launch USD7.6bn Battery Plant in Hungary

Posted at 11:55 by Lexy Li

Chinese battery maker CATL [300750:CH] will spend up to EUR7.3bn (USD7.6bn) to launch a 100-gigawatt-hour (GWh) power battery factory in Hungary, as reported by Reuters on August 12. The project's construction is scheduled to take no more than 64 months, with the first plant set to...

17 Aug SK Group Invests USD250m in SMR Developer TerraPower

Posted at 11:45 by Lexy Li

SK Group [034730:KS] will invest USD250m in TerraPower, a US small modular reactor (SMR) startup founded by Bill Gates, as reported by The Korea Herald on August 15. SMRs are nuclear reactors that are significantly smaller than conventional reactors, enabling users to deploy nuclear power where...

17 Aug Hong Kong Financial Regulator Probes into Accounts and Audits of Evergrande

Posted at 11:28 by Lexy Li

Hong Kong's Financial Reporting Council (FRC) has begun an inquiry into the accounts and audits of China Evergrande Group [3333:HK] and Evergrande Property Services Group [6666:HK], as reported by Bloomberg on August 15. The FRC has initiated an investigation into Evergrande's financial statements for 2020...