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AUTO NEWS: The global auto industry eagerly moves past 2020, but there will be a lasting impact

  • Date: 08-01-21
  • Category: AUTO NEWS
  • Source: LMC Automotive

2021 could not have come soon enough as we all looked to move past 2020 and the grip of a global pandemic. A new definition of disruption emerged last year with the spread of COVID-19 around the world, forcing significant challenges to society. And the automotive industry was no exception.

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OIL: China's Sinopec, PetroChina invest in refinery upgrades

  • Date: 07-01-21
  • Category: OIL
  • Source: Argus Media

Chinese state-controlled oil firms PetroChina and Sinopec are investing in more refinery upgrades to boost oil product quality and increase petrochemical yield.

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FUEL CELLS: South Korea’s SK Group raises bet on renewable energy in Asia

  • Date: 07-01-21
  • Category: FUEL CELLS
  • Source: Financial Times

South Korea’s SK Group will invest $1.5bn into US hydrogen fuel cell maker Plug Power as the oil to computer chips group accelerates its push into Asia’s renewable energy sector. The deal for 9.9 per cent of Plug Power comes as SK Group, South Korea’s third-largest conglomerate, aims to slash its carbon emissions by two-thirds over ten years and plots a transformation away from fossil fuels.

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COBALT: Democratic Republic of Congo says China has granted pandemic-linked debt relief

  • Date: 07-01-21
  • Category: COBALT
  • Source: Reuters

KINSHASA, Jan 6 (Reuters) - China has granted some debt relief to Democratic Republic of Congo to help it overcome economic fallout from the coronavirus pandemic, the Congolese foreign ministry said on Wednesday.

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BATTERIES: Trafigura's Nala Renewables invests in Belgian power storage

  • Date: 07-01-21
  • Category: BATTERIES
  • Source: Reuters

LONDON (Reuters) - Trafigura’s new renewables venture, Nala Renewables, has made its first investment of 30 million euros ($37 million) to develop one of Belgium’s largest battery energy storage systems, the firm said on Wednesday.

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AUTO SALES: Europe’s Car-Sales Outlook Is Bleak After Worst Year in Decades

  • Date: 07-01-21
  • Category: AUTO SALES
  • Source: Bloomberg

Europe’s top auto markets posted their biggest annual sales declines in decades, with ongoing coronavirus restrictions expected to crimp a recovery early this year.

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AUTO SALES: China Wants to Build a $306 Billion Used-Car Market From Scratch

  • Date: 07-01-21
  • Category: AUTO SALES
  • Source: Bloomberg

Although China has more than 270 million vehicles on its roads, only an estimated 15 million secondhand models were sold in 2019. That’s in sharp contrast to places such as Australia, the U.K., and the U.S., where people buy more used cars than new ones. So policymakers, intent on stimulating domestic consumption, want to change that. China is aiming to double the size of its secondhand-car market to about 2 trillion yuan ($306 billion) by 2025.

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EMISSIONS: Daimler avoids fines after hitting European CO2 targets

  • Date: 07-01-21
  • Category: EMISSIONS
  • Source: Financial Times

Germany’s Daimler comfortably reached EU-wide carbon emissions targets in 2020 because of a last-minute boom in the sale of electric and hybrid cars, the boss of the Mercedes-Benz-owner said.

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