E&E reports on the further implementation of the state-level "War on Pollution" in China. Electric cars are at the forefront of this war and have received the status of strategic industry. Now you can better understand why Warren Buffett has invested in BYD and why electric cars sales are taking off in China.
Backed By Warren Buffett China's BYD Takes Aim At Elon Musk's Tesla Gigafactory In Battery Race.
Our industry is getting hotter by the day. After Apple Electric iCar rumours running wild and getting more and more confirmation, we have Warren Buffett stepping into the Lithium Battery Race. Now we have Tesla with its Gigafactory, LG Chem with its Megafactory in China and Boston Power with stake holding by or strategic partner Ganfeng Lithium in Lithium Battery Race. BYD with Warren Buffett backing is making this investment landscape even more exciting. As Elon Musk has said: "All transportation, apart from rockets, will be electric" Read more."
International Lithium And Ganfeng Lithium: "The End Of The Lithium 'Big 3'.
"Joe Lowry has published a very interesting article about the lithium market, major producers and rising Chinese powerhouses in lithium industry. You can find now more details on International Lithium strategic partner Ganfeng Lithium. Apple Electric iCar and Warren Buffet BYD move into energy storage to chase Elon Musk with his Tesla Gigafactory bring Lithium back onto the radar screens of investors now. Read more."International Lithium Corp. and Ganfeng Lithium Commence Work Programs on the Avalonia and Mariana Lithium Projects.
E&E:Chinese city prepares to pump almost $800M into electric car incentives
Coco Liu, E&E Asia correspondent
HONG KONG -- Shenzhen city, which is home to Warren Buffett-backed Chinese electric-car maker BYD Auto, will provide as much as 5 billion yuan ($799 million) in government funding to spur demand for green vehicles, according to an official statement released recently.
The statement says the fund will be used to subsidize purchasing of vehicles, to help reduce the cost of driving them, and to buy recharging infrastructure and develop regulations for Shenzhen, which is located just north of Hong Kong. It is one of the most crowded cities in the world, with more than 15 million inhabitants.
In addition to providing fiscal assistance, the statement notes, Shenzhen has ordered government departments and public transport agencies to purchase clean cars for their fleets.
Shenzhen's clean car promotion policy represents China's latest effort to remove fossil fuels from its transportation system. Policymakers here hope that an influx of clean cars will help the country fight pollution, cut carbon emissions and reduce its reliance on imported fuels.
Increased government funding and other supportive policies may also give China's car salesman a package of incentives they need to overcome deep consumer skepticism about the price, reliability and convenience of electric vehicles.
Currently, about 10,000 pure electric cars, plug-in hybrids and fuel-cell vehicles are registered in Shenzhen, lagging far behind the city's target of putting 35,000 units on the road before 2017. Read more on E&E."
Disclosure: The author is long TRRXF, ILHMF.