China makes breakthrough with thorium molten salt reactor
China has made a breakthrough in thorium-based molten salt reactors, a fourth-generation nuclear technology. On Nov. 2, the Shanghai Institute of Applied Physics announced the completion of a 2-megawatt experimental liquid-fuel thorium molten salt reactor, calling it the world’s only operating reactor of its kind to have successfully introduced thorium fuel. The institute aims to build and connect a 100-megawatt demonstration reactor to the grid around 2035.
China-ASEAN power exchange exceeds 75 billion kWh
Cross-border electricity exchange between China and ASEAN has surpassed 75 billion kWh, with green power making up over 90% of the total, Xinhua reported Nov. 4. By the end of 2024, the installed capacity of cooperative hydropower, wind and solar projects was 15 times larger than in 2014. Additionally, 16 interconnected power transmission lines of 110 kV or higher have been established between China and ASEAN.
PetroChina-led project in Iraq boosts oil processing capacity
A new crude oil processing facility at the West Qurna 1 oil field in Iraq, where PetroChina Co. Ltd. is the lead operator, began operations Nov. 2. The facility will increase the field’s daily crude processing capacity from 600,000 barrels to over 800,000 barrels.
China’s largest-capacity thermal power plant comes online
A new 1,000-megawatt coal-fired unit at a power plant in Ningbo, Zhejiang province, has begun commercial operations, making it China’s largest thermal power plant, the local branch of China Energy Investment Corp. Ltd. said on Nov. 3. The facility can now generate more than 40 billion kilowatt-hours of electricity a year, strengthening power supply in the Yangtze River Delta region.
Geely to take stake in Renault’s Brazil unit
Chinese automaker Geely has signed a deal to buy a stake in Renault Group’s Brazilian subsidiary, an “asset-light” move to produce and sell new-energy vehicles (NEVs) in Latin America’s largest auto market.
Under the final agreement signed Nov. 3, Hong Kong-listed Geely Automobile Holdings Ltd. and its parent Zhejiang Geely Holding Group Co. Ltd. will acquire a combined 26.4% stake in the French automaker’s local unit, according to company statements.
Chinese contractors find opportunities in Saudi infrastructure boom
Saudi Arabia’s massive infrastructure push is creating a gold rush for international contractors, with Chinese construction giants emerging as favored partners.
Kiran Haslam, chief marketing officer of Diriyah Company, told Caixin that Chinese contractors are “very much sought after” in Saudi Arabia. He cited their extensive experience with large, high-value projects and their competitiveness, honed by what he described as a “commercially, very aggressive” Chinese market. He also expressed hope that Chinese firms will bring their partner suppliers to Saudi Arabia to help meet Vision 2030’s tight deadlines.
Volkswagen to use Xpeng’s chips, driver-assistance system
Some new Volkswagen-branded models co-developed with XPeng Inc. will feature XPeng’s in-house “Turing” chips and its latest-generation advanced driver-assistance system, XPeng announced on Nov. 5. The partnership, which began in July 2023, includes a plan to develop two electric models based on an XPeng platform, set to launch in early 2026. In April 2024, the companies expanded their collaboration to include the joint development of an electrical and electronic architecture for Volkswagen’s EV platform in China.
