This week’s news from China is all about wind energy and automobiles, particularly EVs. China is determined to be a world leader in clean energy, and investments in these sectors continue to soar, creating opportunities for manufacturing technology. One company alone will spend more than $6 billion over the next two years on offshore wind farms. Wow! For more specifics, upcoming trade show information, and other industry intel, read on.
China Three Gorges Renewables Group Co. Ltd., the publicly traded, Beijing-based company that operates renewable energy generation businesses, will invest $6.4 billion on three offshore wind farms with an installed gross capacity of 1 GW each. They will have a price tag of approximately $2 billion each. The company generates wind power, photovoltaic power, hydropower, solar power, and other power products. The new wind farms are scheduled to complete grid connection with full capacity in 2024.
This mega-investment illustrates China’s major push to further harness offshore wind power, the country’s major field of growth within the wind energy industry. Recently installed gross capacity of offshore wind power is over 3 GW, and even larger capacities are needed to meet development plans and demands. The Global Wind Energy Council (GWEC) estimates that the global new installed capacity of offshore wind power will achieve 22 GW by 2025 and 40 GW by 2030. China plans to be at the forefront.
The China Association of Automobile Manufacturers (CAAM) released its final data for 2021:
Total auto production of 26,082,000 units, with YOY growth of 3.4%.
Total auto sales of 26,275,000 units, with YOY growth of 3.8%.
This ends a three-year decline in China for automotive production and sales.
For new energy vehicles, total production was 3,545,000 units, with total sales of 3,521,000 units, a YOY growth of 160%.
CAAM estimates that the sales volume of new EVs will reach approximately 5 million units in 2022.
China has an exposition show entirely dedicated to new energy automotive technology, EVTECH EXPO. It will be held May 31 to June 2, 2022, at the Shanghai New International Expo Center (SNIEC). The show covers eight major EV technology fields:
Electric control technology of battery motors
New energy automobile manufacturing technology and equipment
Hydrogen fuel and hydrogen refueling station technology
New energy vehicle charging and replacing technology
New energy automobile electronic technology
Harness and connector technology
Thermal management technology
New EV testing technology.
For more information, please contact Fred Qian at fredqian@AMTchina.org.