In Today’s Talking Points: Electric Cars and Other Vehicles Projected to Rise Threefold By 2020, Previous Newcastle Expansion Plan Will Not Proceed, Strong Chinese Economic Forecasts See Investors Looking at Iron Ore and Northwest China’s Autonomous Region Diversifies its Energy Mix
Electric Cars and Other Vehicles Projected to Rise Threefold By 2020
According to the IEA, the number of electric vehicles are expected to rise from the current 3.715 million to approximately 13 million by 2020. It is also expected that sales will experience robust growth of up to 24% per year until 2030. China is expected to remain the largest market for electric motor vehicles. It is expected to grow exponentially from the current 1.2 million on the roads. The IEA also forecasts strong growth in complementary industries such as batteries and electric buses.
To read more visit: Bloomberg
Previous Newcastle Expansion Plan Will Not Proceed
The planned development of a fourth Terminal of the Newcastle Port will not go ahead despite moderate New South Wales coal exports. Although Hunter Valley coal exports are fetching above $100/t and expected to grow in 2018 to above 105Mt this year. Port Waratah Coal Services (PWCS), the Newcastle port reported that from their own modelling and the potential for lower coal sales, there is sufficient growth capacity at the existing terminal to support current and future traffic.
To read more visit: Australian Mining
Strong Chinese Economic Forecasts See Investors Looking at Iron Ore
Some better than forecasted Chinese economic data has seem a slight bump in Iron Ore prices. Moderate Chinese manufacturing and non-manufacturing PMI’s for May saw commodities futures rise, despite uncertain effects from President’s Trumps tariffs on metals.
To read more visit: Business Insider
Northwest China’s Autonomous Region Diversifies its Energy Mix
The Ningxia Hui Autonomous Region has seen its new energy power capacity grow to 16.1GW. Combined renewable energy now accounts for 41% of the energy capacity in the region according to the Ningxia State Grid’s branch. Wind power and solar now accounts for 9.9 GW and 6.2GW respectfully. It is a part of the plan for local authorities to expand public transport, use renewable energy and reduce consumption of oil products.
To read more visit: Xinhua