Renewable installations

CHINA this year will be able to absorb 52 percent more new wind and solar power capacity than in it added 2019.

The world’s biggest energy consumer has space on its grids to add 36.65 gigawatts of wind and 48.45 gigawatts of solar, according to a transmission analysis report by the National New Energy Absorption Monitoring and Warning Center. Last year, China added 25.74 gigawatts of wind and 30.11 of solar to the grid, but coal remains by far its biggest power source.

GAC sales target

AUTOMAKER GAC, which has partnered with Toyota, Honda and FCA, will stick to an annual target of 3 percent in sales growth this year despite fallout from the coronavirus pandemic, its chairman said.

Chairman Zeng Qinghong said the automaker based in Guangzhou was studying recovery plans after the virus hit auto sales in China. More than 80 percent of GAC’s supply chain for parts is localized and the firm has two to three months’ stock of imported parts, he said, adding that it faces no short-term risk of shortage in supply of such parts. GAC will research the exports of electric vehicles and launch more electric models under its venture with FCA, Zeng said.

Tesla prices

TESLA Inc. said yesterday it will cut prices of its electric vehicles in China.

Tesla China said in a Weibo post it will cut prices for the Model S and Model X cars it imports, but keep prices of locally-made Model 3 cars unchanged. The automaker will also cut prices in North America as the firm ramps up car production at its Fremont, California, factory after the easing of coronavirus lockdowns. It was not immediately clear by how much Tesla was cutting its prices or when the cuts would take effect.