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China apos;s Baidu To Create An Intelligent EV Company With Automaker Geely

2021-05-28T16:37:45Z

ErnieLutz444:

BEIJING, Jan 11 (Reuters) - China's search engine giant Baidu Inc said on Monday it will set up a company to partner with car maker Zhejiang Geely Holding Group to make smart electric vehicles (EV), the latest move by a tech company in the fast-evolving sector. Baidu, which has been developing autonomous driving technology and internet connectivity infrastructure, said the new EV company will count on Baidu's intelligent driving capabilities and Geely's car manufacturing expertise. Geely will also be a strategic investor in the new company, [https://www.kynghidongduong.vn/tours/tour-trung-quoc-nam-ninh-truong-gia-gioi-phuong-hoang-co-tran-6-ngay.html kynghidongduong.vn] which will be an independent subsidiary of Baidu, [https://www.kynghidongduong.vn/tours/tour-trung-quoc-nam-ninh-truong-gia-gioi-phuong-hoang-co-tran-6-ngay.html tour phượng hoàng cổ trấn] Baidu said in the statement. Reuters reported Baidu's plan to form a smart EV company with the help of Geely last week. Sources told Reuters Baidu would hold a majority stake and absolute [http://www.dict.cc/?s=voting%20power voting power] in the new firm and that Geely would have a minority stake. Geely said in a [https://www.biggerpockets.com/search?utf8=%E2%9C%93&term=separate%20statement separate statement] on Monday the collaboration will be based on Geely´s EV-focused platform, Sustainable Experience Architecture (SEA). Baidu's move comes as many tech companies around the world are racing to develop smart cars, after Tesla Inc's success in commercialising EVs. Apple is pushing to design an electric vehicle and batteries, aiming at a possible 2024 launch, sources told Reuters last month. Chinese ecommerce giant Alibaba has formed an EV joint venture with China's biggest automaker SAIC Motor Corp while China's Didi Chuxing is making EVs designed for ride hailing services with automaker BYD. Baidu established its autonomous driving unit Apollo in 2017. The unit mainly supplies technology powered by artificial intelligence and works with automakers such as Geely, Volkswagen AG, Toyota Motor Corp and Ford Motor Co . Baidu operates autonomous taxi service Go Robotaxi with safety drivers on board in Beijing, Changsha and Cangzhou, and plans to expand to 30 cities in three years, [https://www.kynghidongduong.vn/tours/tour-trung-quoc-nam-ninh-truong-gia-gioi-phuong-hoang-co-tran-6-ngay.html tour du lịch phượng hoàng cổ trấn] which analysts say is a potential scenario for Baidu to eventually commercialize its automous driving technoglogies. It gained approval last week to test five cars in Beijing without safety drivers. Baidu's car-making plan is likely to strengthen the concept of "software-defined vehicles," said Jason Chen, transportation analyst at researcher Analysys. "However, the success of Baidu´s car making will also depend on support from government policies, equipment cost reduction, and user demand." All automakers need to transform themselves into more tech-oriented companies as intelligent connectivity will play a much more important role, said Shi Ji, an analyst at Haitong International. (Reporting by Yingzhi Yang and Yilei Sun in Beijing and Brenda Goh in Shanghai; Editing by Tom Hogue and Ana Nicolaci da Costa)

Millions Facing Winter Power Shortages In China As Coal Supply...

2021-05-28T13:56:25Z

ErnieLutz444:

China's rebound from the Covid-19 pandemic has been driven by energy intensive industries such as construction, heaping pressure on the power grid and coal supplies Tens of millions across China are facing power shortages in below-freezing winter temperatures, [https://www.kynghidongduong.vn/tours/tour-trung-quoc-nam-ninh-truong-gia-gioi-phuong-hoang-co-tran-6-ngay.html kynghidongduong.vn] as three provinces impose curbs on electricity use due to surging demand [https://www.kynghidongduong.vn/tours/tour-trung-quoc-nam-ninh-truong-gia-gioi-phuong-hoang-co-tran-6-ngay.html tour phượng hoàng cổ trấn] and a squeezed coal supply. Residents, factories and businesses in Hunan, Zhejiang and Jiangxi provinces have been ordered to ration electricity with some areas citing a shortfall in coal supplies, according to local media reports and government notices. China's rebound from the Covid-19 pandemic has been driven by energy intensive industries such as construction, heaping pressure on the power grid and coal supplies, said Lauri Myllyvirta, lead analyst at the Centre for Research on Energy and Clean Air. Earlier this month, Hunan authorities ordered all billboards and outdoor lighting on buildings to power off for long periods each day and a temperature cap on indoor heating at entertainment venues. Hunan faces a shortfall of 3-4 million kilowatts of electricity this winter, local officials admitted last week, as demand soars due to unusually cold weather that will hit as low as -10 degrees Celsius. Office workers in provincial capital Changsha complained on social media about being forced to climb dozens of flights of stairs and freezing indoor temperatures as a result of frequent power outages. "My office heating has already been stopped, and there were blackouts on December 1, 3 and 5. Temperatures will drop to minus 8 degrees around New Year's Day, will I freeze to death in Hunan?" one Weibo user wrote last week. Meanwhile in Zhejiang province, factories in the manufacturing hub of Yiwu have been told to stop operations and streetlights have been turned off at night as part of an emissions-saving drive by the local government, according to media reports and photos circulated on Weibo. - Supply 'largely stable' - China's top economic planner, the National Development and [https://www.kynghidongduong.vn/tours/tour-trung-quoc-nam-ninh-truong-gia-gioi-phuong-hoang-co-tran-6-ngay.html tour du lịch phượng hoàng cổ trấn] Reform Commission (NDRC), on Monday sought to reassure the public by saying the electricity supply is "largely stable", and pledged to increase generation capacity and coal procurement. The power crisis points to the challenges fast-growing China faces in balancing the needs of its vast population with strict carbon emissions targets promised by its leadership. China -- by far the world's biggest consumer of coal -- is pivoting to renewable energy sources to meet a pledge to peak carbon emissions by 2030 and reach carbon neutrality by 2060. Speculation has swirled online that the power shortages may be self-inflicted wound as a result of China's embargo of Australian coal, which has left ships stranded at ports, unable to offload large quantities of coal. However, Australian coal only made up about three per cent of last year's total [http://www.traveldescribe.com/?s=coal%20imports coal imports] of 265 million tonnes, according to data from the National Bureau of Statistics. "The Aussie ban only had little impact on China's thermal coal supply," said Yan Qin, carbon analyst at financial data service Refinitiv. "But China-Australia tensions have caused significant worries in the commodities markets, driving up domestic coal prices."

User:ErnieLutz444

2021-05-28T13:56:16Z

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