China\u2019s clean technology titans, hungry for export markets to boost flagging profits, aren\u2019t letting a crisis go to waste. Manufacturers of electric vehicles, batteries, and solar panels have been wooing nations looking to wean themselves off costly fuel imports since the Iran war triggered a global energy shock.<\/p>\n
One of the country\u2019s largest solar manufacturers, Jinko Solar Co., inked two deals at the end of April with partners in Nigeria \u2014 in a region where diesel prices have soared 40% since the start of the crisis \u2014 while auto manufacturers are hunting avenues to extend sales into locations including Europe, and energy storage firms are lifting overseas shipments.<\/p>\n
\u201cChinese manufacturers are catching an export tailwind from this worldwide rush, which is helping to support their prices in overseas markets,\u201d said Chia Chen, an analyst at Bloomberg Intelligence. <\/p>\n
Exports of lithium-ion batteries jumped in March from the previous year while shipments of solar panels doubled on the previous month to reach a record, according to calculations by UK-based think tank Ember. Along with rising fuel prices, overseas shipments were propelled by the looming expiration of an export tax rebate for solar at the start of April, and a reduction for batteries. <\/p>\n
A total of 50 countries had record solar imports from China in March, with Nigeria recording a 519% surge from February and notable spikes in Malaysia, Ethiopia, and Kenya. <\/p>\n
\u201cNigerian end users can now reduce their reliance on diesel generators and access reliable, clean, and affordable self-generated power,\u201d Jinko said in a statement, after striking a deal with Fouani Nigeria to supply 500 megawatts of equipment for use across shopping malls, factories, and homes.<\/p>\n
Canada, among global markets hit by higher fuel prices, is ripe for new EV sales, according to Chery Automobile Co., one of China\u2019s largest automakers. The company flew nearly two dozen Canadian car dealers to the Beijing auto show which concluded earlier this month.<\/p>\n
\u201cSince the crisis, oil prices have risen in many places, some are experiencing supply shortages. So everyone\u2019s perception of electrified vehicles is changing,\u201d Chery\u2019s chairman Yin Tongyue said in an interview. \u201cThere\u2019s been a rise in orders and also some Western manufacturers are urgently looking for ways to partner with Chinese EV makers.\u201d<\/p>\n
A sales manager for another Chinese EV producer, who requested anonymity because they were not authorized to speak to the media, said the company is scouting for partners in southern and eastern Europe where customers are sensitive to gasoline price hikes.<\/p>\n
Dongfeng Liuzhou Motor Co. is also sizing up new opportunities in Vietnam, where the government has responded to the Iran war by pushing for an expansion of EV charging infrastructure. \u201cNow our customers have started talking to us about whether they can import our new energy vehicle products,\u201d said Zhang Enming, a general manager in the company\u2019s Southeast Asia region, in an interview. <\/p>\n
China Passenger Car Assn. data for April showed exports of EVs soared 112% from the previous year. Official customs data for April has not yet been released, but in March EV exports grew 53% from the year before. Sizable EV markets that saw Chinese imports rise in March include Australia \u2014 up 67% from February, Belgium \u2014 up 63%, and Germany at 34%. Early indicators from April follow that trend. China\u2019s top EV exporter BYD saw overseas sales jump more than 71% from the previous year. <\/p>\n
Chinese battery exports rose just over a third in March from the previous year, and shipments from major supplier Sungrow Power Supply Co. are likely to exceed forecasts as the war stokes demand, according to BI\u2019s Chen. Gotion High-Tech Co. Ltd. is aiming to double overseas shipments this year, the company said last month.<\/p>\n
Even wind turbine producers, whose projects can take years to come to fruition, are using the energy crisis to drum up new opportunities. <\/p>\n
In Europe, there is an \u201curgent need\u201d for renewable energy sources and offshore wind power, Zhang Chuanwei, chairman of manufacturer Ming Yang Smart Energy Group, said in an interview following a visit to the region. The equipment supplier is aiming to set up production in Europe after the United Kingdom rejected a plan to locate a plant in Scotland.<\/p>\n
However, disruption to markets in the Middle East is seen weighing on some exports, even if the broader trend is positive.<\/p>\n
\u201cI think overall the overseas sales will increase but in some regions we need to make practical plans to accommodate the changes,\u201d Victor Yang, senior vice president of Geely Automobile Holdings Ltd., told reporters at the Beijing auto show last month. The Iran conflict is \u201ca challenge for everybody,\u201d he said.<\/p>\n
Pike writes for Bloomberg.<\/p>\n","protected":false},"excerpt":{"rendered":"China\u2019s clean technology titans, hungry for export markets to boost flagging profits, aren\u2019t letting a crisis go to…\n","protected":false},"author":2,"featured_media":955176,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[3843],"tags":[5032,8442,1395,1322,6659,728,16187,299,12726,152221,258831,462,10435,3007,266632,266631,70,16,15],"class_list":["post-955175","post","type-post","status-publish","format-standard","has-post-thumbnail","category-environment","tag-april","tag-battery","tag-china","tag-company","tag-crisis","tag-environment","tag-equipment","tag-europe","tag-ev","tag-export-market","tag-fuel-price","tag-interview","tag-march","tag-nigeria","tag-overseas-shipment","tag-previous-year","tag-science","tag-uk","tag-united-kingdom"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/116562576505933977","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/955175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=955175"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/955175\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/955176"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=955175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=955175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=955175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}