Industry

  • South Korean market research agency SNE: In the first quarter, the global sales of hydrogen electric vehicles were 3,939 units, a year-on-year decrease of 2.7%. Hyundai Motor’s hydrogen electric vehicle sales fell 5.4% year-on-year to 1,710 units, but still led the market with a 43.4% market share.
  • Deloitte: In 2021, the global chemical industry M&A transaction value was US$103.6 billion. There were 688 deal counts and 30 M&A deals over $1 billion, both hitting decade highs after a slump in 2020. Among them, the number of mergers and acquisitions in China’s chemical industry was 70, an increase of 11% year-on-year; the value of mergers and acquisitions fell by 40% year-on-year, the lowest level in the past five years.

Company

  • BYD: In April, new energy vehicles sold 106,000 units, a year-on-year increase of 313.22%. From January to April, the cumulative sales volume was 392,000 units, a year-on-year increase of 387.94%.

World

  • U.S. Department of Energy: $3.16 billion from the bipartisan infrastructure bill for the development of domestic electric vehicle battery manufacturing. Of this, $3.1 billion will be used to invest in new construction, renovation and expansion of facilities related to electric vehicle batteries, and $60 million will be used to recycle and reuse used batteries.
  • Australia: On May 3, Australia started to raise interest rates for the first time since 2010, and the interest rate was raised to 0.35%. After the outbreak of the new crown epidemic, the interest rate was cut three times, and the interest rate fell to a historical low of 0.1%.
  • British Petroleum: In the first quarter, it lost $20.4 billion, compared with a profit of $2.3 billion in the fourth quarter of last year; adjusted net profit was $6.25 billion, compared with an expected $4.43 billion. The loss caused by the withdrawal from Russia exceeds 25 billion US dollars, and it is expected that the price of natural gas will still rely heavily on Russia’s pipelines to Europe in the short term. It plans to invest up to £18bn in the UK by 2030 in oil, gas and wind energy production, as well as electric vehicle charging and other projects.
  • European Transport Environment Federation: There will be enough nickel and lithium globally to produce up to 14 million electric vehicles by 2023. By 2025, the global supply of electric vehicles will reach 21 million; in addition to Russian nickel, the world will have enough raw materials to produce 19 million electric vehicles by 2025. Europe should be able to wean itself off oil more quickly.
  • Indian Prime Minister Narendra Modi said that Germany will provide 10 billion euros of support to India under the framework of the Green Development Partnership by 2030, and the two sides also decided to establish a joint analysis center for green hydrogen energy. According to data released by the Ministry of Coal India, the total coal output in April was 66.154 million tons, and the total coal output for the 2021-22 fiscal year was tentatively set at 777.023 million tons, an increase of about 8.5% year-on-year.