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Wanxiang Group says it might now be China's largest corporate investor in American real estate. The owner of both Fisker Automotive and battery company A123 Systems, and parts supplier to Mazda and Chrysler, Wanxiang has invested in over 60 projects in the US since 2010. Returns on those investments have been "very, very, very" high, according to Wanxiang America President Pin Ni. "We can invest in clean energy, auto, real estate or anything, but the key is pegging it well to the economic cycle," says Ni. Read more at Bloomberg.

Cars sold in 2014 in Europe are exceeding 2015 targets for emissions, but not necessarily for the right reasons. The cars produce 2.6 percent (or 123.4 g/km) less CO2 than cars sold in 2013, which is nearly 7 g/km less than 2015 targets. Unfortunately, these results are influenced in part by manufacturers taking advantage of flaws in the EU testing procedures for better results. Real-world fuel economy is about 31 percent less than official ratings. "These figures need to be treated with extreme caution," says Greg Archer, clean vehicles manager at Transport & Environment. Most of the measured improvement is being delivered through manipulating tests, not delivering real-world improvements. We need the new test to be introduced without further delay." Read more at DieselNet, or from Transport & Environment.

Ballard will supply fuel cell modules for eight hydrogen-powered buses in China. Shipping later this year, the FCvelocityTM-HD7 power modules will power buses in multiple Chinese for cities. "We are now beginning to see meaningful evidence of growing demand for clean energy mass transportation alternatives in China, including both buses and trams," says Ballard President and CEO Randy MacEwen. "This demand is being driven by a pressing need to address China's challenging air quality issues, for which fuel cell technology is seen as an emerging option." Read more from Ballard in the press release below.
Show full PR text
Ballard Inks Deal to Supply Next-Generation Fuel Cell Power Product For Eight Buses in China

April 15, 2015

Vancouver, Canada – Ballard Power Systems (NASDAQ: BLDP; TSX: BLD) today announced that it has received an order from a Chinese customer to supply its next-generation FCvelocityTM-HD7 power modules for 8 buses to be deployed in a number of Chinese cities. Ballard expects to ship all of the modules in 2015.

Randy MacEwen, Ballard's President and CEO said, "We are now beginning to see meaningful evidence of growing demand for clean energy mass transportation alternatives in China, including both buses and trams. This demand is being driven by a pressing need to address China's challenging air quality issues, for which fuel cell technology is seen as an emerging option."

China's rapid economic expansion over the recent past is resulting in public concern regarding deteriorating levels of air quality. As a result, the Government is investing heavily in the renewable energy industry and on actions designed to save energy and reduce emissions.

The size and rapid growth of China's economy has resulted in considerably larger carbon dioxide emissions than other nations. In 2013, for example, China's carbon dioxide emissions from fossil fuels accounted for 29% of the global total, compared to 15% from the United States.

This growth has also spawned the largest commercial vehicle segment in the world, in terms of production and domestic sales, including the manufacture of more than 70,000 city buses in 2011. In that same year automotive emissions contributed more than 33% of the air pollution in Beijing, Shanghai and the Pearl River Delta Region.

A new energy program, launched in 2011 and involving 48 Chinese cities, has an objective of expanding public transit while also reducing the number of vehicles in cities. One of the program's specific goals is to deploy more than 1,000 clean energy buses in each of its participating cities, taking advantage of Government subsidies to facilitate this expansion. Fuel cell buses, along with electric buses, are eligible for a subsidy of approximately USD$150,000, through 2017. In addition, hydrogen fueling stations are eligible for a further subsidy of approximately USD$650,000.


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