Energy Insider: Baosteel, Toyota Face Patent Infringement Suit by Nippon Steel
In today’s Caixin energy news wrap: Battery giant CATL signs up a new U.S. customer; Li Auto builds second plant in Beijing; power prices on the rise under new regime.
Nippon Steel sues Baosteel and Toyota for patent infringement
Nippon Steel Corp. filed suit in a Tokyo district court against China's Baoshan Iron & Steel Co Ltd (Baosteel) and Toyota Motor Corp. seeking 20 billion Japanese yen ($170 million) each for patent infringement in nonoriented magnetic steel sheets, the largest Japanese steelmaker said. Toyota commercially used the special steel plate supplied by Baosteel that infringes its patent in making electric vehicles, Nippon Steel alleged. Baosteel rejected the allegation and vowed to actively fight the lawsuit. Toyota said the company didn’t know of any patent infringement by Baosteel when the companies signed a supply contract. Nonoriented magnetic steel sheets are a key raw material for electric vehicles.
EV battery maker CATL signs up new U.S. customer
China's Contemporary Amperex Technology Co. Ltd. (CATL), the world's largest electric car battery maker, agreed to a four-year deal with U.S. electric car startup Electric Last Mile Solutions Inc. (ELMS). CATL will supply lithium-iron phosphate batteries to power electric delivery vans, Detroit-based ELMS said. The companies are also exploring “various potential cooperation opportunities” including setting up a U.S. battery plant. The partnership further expands CATL’s growing list of customer deals with global automakers ranging from Tesla Inc. to Volkswagen AG and General Motors Co.
Li Auto starts construction of second plant in Beijing
Chinese electric vehicle startup Li Auto began construction of its second plant in Beijing with an investment of more than 6 billion yuan ($930 million). The 100,000 vehicles-a-year plant is expected to start operation at the end of 2023.
Power prices rise under China’s new electricity pricing system
China’s eastern Shandong and Jiangsu provinces organized power trades as China recently lifted curbs on coal-fired electricity prices. Average strike prices in both regions rose 20%, hitting the ceiling price of the new regime.
Coal prices to hover at high level, industry body says
The China Coal Transportation and Distribution Association (CCTD) projected that coal prices will fluctuate at a high level in coming months even as coal producers increase production. Demand will keep rising as power plants expand coal stockpiles, the association said. According to CCTD data, daily production of China’s key coal suppliers climbed 4.5% to 6.93 million tons in the first half of October.
CHN Energy pledges rising power supply to northeast region
China Energy Investment Corp. vowed to ensure stable electricity supplies to households amid widespread power shortages. The company urged subsidiary power plants in Northeast China to store enough coal to secure the regional power supply. It also told its coal-producing units to further increase production and coal imports.
China aims to cut wind power costs
About 600 wind power companies and 118 cities launched a “wind power partner action” Sunday, aiming to bolster wind power development in China. Under the plan, China plans to cut the cost of wind power to as low as 0.1 yuan ($0.016) per kilowatt-hour by 2025. The plan will also focus on promoting wind power in the countryside, building 10,000 turbines with 50 gigawatts of capacity in 5,000 villages over the next five years.
Risen Energy to sell solar power assets to Shenzhen Gas
Risen Energy, a Zhejiang-based photovoltaic application products supplier, said it plans to sell four wholly owned subsidiaries to Shenzhen Gas Corp. Ltd. for 758 million yuan ($117.8 million). Together, the units have a solar power capacity of about 200 megawatts.
CEEC to invest $72.6 million in clean energy
China Energy Engineering Corp. (CEEC) said a subsidiary plans to invest 467 million yuan ($72.6 million) in a private equity fund to purchase two clean energy companies in wind power and solar panels.
Contact editors Han Wei (firstname.lastname@example.org) and Bob Simison (email@example.com)Download our app to receive breaking news alerts and read the news on the go.
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