[Top News] from [REUTERS]
[Green Business]
Fang Yan and Jacqueline Wong
SHANGHAI
Wed Jan 6, 2010 3:44am EST
Qinyuan seeks to boost electric car sales in U.S.
SHANGHAI (Reuters) - Tianjin Qingyuan Electric Vehicle Co, the first Chinese automaker to break into the United States, hopes to significantly boost sales of its self-developed electric models in the world's second-largest market this year, a source with direct knowledge of the matter said on Wednesday.
State-backed Qingyuan is among a growing army of Chinese automakers, including BYD Co, partly-owned by U.S. billionaire Warren Buffett, eager to tap the fledgling green car sector in mature markets.
Qingyuan hopes to sell 3,000 self-made electric vehicles mostly in the United States in 2010, 50 percent more than what it shipped there in the past five years, the source told Reuters.
It is also seeking opportunities to sell electric vehicles in Europe where regulators have been tightening up emission rules to tackle environmental issues, the source said.
"Qingyuan is rather positive on the outlook of its export business as market potential for green cars in the U.S. and Europe is huge," said the source.
Qingyuan declined to comment.
Other Chinese automakers are also stepping up investment in the green car sector which is poised to take off.
BYD Co -- 10 percent controlled by Warren Buffett's Berkshire Hathaway Inc, has sold several hundred of its plug-in hybrid, F3DM, unveiled in December 2008. It also plans to export its first electric car, the e6, to the United States this year.
Chery Automobile Co, Beijing Automotive Industry Holding Corp (BAIC) and SAIC Motor Corp, among others have unveiled their electric or hybrid models.
HOME MARKET
Beijing said in December it would expand its pilot scheme to subsidize the purchase of clean-energy vehicles for public transport fleets in 13 to 20 cities.
It would also subsidize the purchase of "environmentally friendly" vehicles in five cities selected for a pilot program to private car buyers for the first time.
The move presents new growth opportunities for Qingyuan, which has been seeking to cooperate with domestic and foreign car ventures in China in the green vehicle segment.
A source told Reuters in September that Qingyuan was in talks with Daimler AG to develop an electric version of a van made at the German automaker's joint venture in southeast China.
Chery Auto, Beijing Hyundai, Hyundai Motor's car venture with BAIC, are also among its potential clients, the source said.
Qingyuan, based in the municipality of Tianjin near Beijing, is capable of producing 5,000 to 6,000 electric vehicles per annum.
Its near-term goal is to raise its production level for key components of electric cars, including motor and driving systems.
To fund expansion, Qingyuan is in talks with several potential foreign and domestic investors, said the source, without elaborating.
It may consider listing on China's Nasdaq-style second board, CHinNext eventually. The four-month old board is already home to 36 start-up firms, including movie maker H.Brothers and Aier Eye Hospital Group.
(Reporting by Fang Yan and Jacqueline Wong)
[Green Business]
Timothy Gardner
WASHINGTON
Tue Jan 5, 2010 4:33pm EST
U.S. scrapped more cars than bought new ones
WASHINGTON (Reuters) - Americans scrapped more automobiles than they bought last year as the ragged economy reduced demand and some major cities expanded mass transit service, according to a new report.
The United States scrapped 14 million autos while buying only 10 million last year, shrinking the country's car and light duty truck fleet to 246 million from a record high of 250 million, according to the report to be released on Wednesday by nonprofit group the Earth Policy Institute (EPI).
The United States, the world's biggest petroleum user, "is entering a new era, evolving from a car-dominated transport system to one that is much more diversified," said Lester Brown, the president of the EPI.
While many cities like New York have had to cut mass transit services and raise fares during the recession, Phoenix, Seattle, Houston, Nashville and other cities have expanded or improved mass transit systems.
Cities are taking a variety of steps, like adding rapid bus lanes and light duty rail, to fight traffic congestion and air pollution. Some are raising parking meter prices and cutting down the required parking spaces per building, the report said.
President Barack Obama's "cash for clunkers" program, which last summer gave consumers a rebate of up to $4,500 for trading in older cars and light trucks, led to the scrapping of more than 700,000 vehicles. But since the incentive was only available to consumers who bought new fuel-sipping vehicles, it did not affect the ratio of scrapped vehicles to new sales.
Market saturation of autos, urbanization, high oil prices that reached a record $147 a barrel in 2008, and the uncertain economy have helped cut car sales, Brown said. Given those forces, sales may never reach the 17 million per year level they were between 1999 and 2007, he said.
Because more people live in cities than a few decades ago, young people, particularly those burdened with student loans, are foregoing car purchases, the report said.
As more people live in cities, some teens are not even bothering to get driver's licenses. The number of teenagers with licenses peaked at 12 million in 1978 but is now under 10 million, the report said.
"When I was a kid socializing revolved around getting into a car and going for a drive," said Brown. "Today kids socialize over the Internet and on smart phones."
A continued drop in auto purchases could cut long-term oil demand and greenhouse gas emissions from transportation. he said. It could also lead to increases in steel supplies as big cars get recycled, Brown said.
Brown used data from the U.S. Federal Highway Administration and R.L. Polk & Co to write the report.
(Editing by Philip Barbara)
[Green Business]
TORONTO
Tue Jan 5, 2010 4:12pm EST
Sunoco to pay Pennsylvania air quality fines
TORONTO (Reuters) - Sunoco Refining and Marketing will pay $173,310 in civil penalties for air quality violations at its 178,000-barrel-per-day refinery in Marcus Hook, Pennsylvania, that occurred in 2008, state authorities said on Tuesday.
According to the Pennsylvania Department of Environmental Protection Southeast Regional Director, Sunoco had several reported incidents of emissions, as well as numerous air permit and storage tank violations, during the same time period.
"Sunoco views this as an opportunity to maintain our efforts in continuous improvement," said Thomas Golembeski, a spokesman for the refiner.
" We take our environmental performance seriously. We self-reported our air emission releases and cooperated fully with Pennsylvania DEP inspections. The safe, reliable and environmentally sound operation of our facilities is our main focus," he added.
[Green Business]
Fang Yan and Jacqueline Wong
SHANGHAI
Wed Jan 6, 2010 3:44am EST
Qinyuan seeks to boost electric car sales in U.S.
SHANGHAI (Reuters) - Tianjin Qingyuan Electric Vehicle Co, the first Chinese automaker to break into the United States, hopes to significantly boost sales of its self-developed electric models in the world's second-largest market this year, a source with direct knowledge of the matter said on Wednesday.
State-backed Qingyuan is among a growing army of Chinese automakers, including BYD Co, partly-owned by U.S. billionaire Warren Buffett, eager to tap the fledgling green car sector in mature markets.
Qingyuan hopes to sell 3,000 self-made electric vehicles mostly in the United States in 2010, 50 percent more than what it shipped there in the past five years, the source told Reuters.
It is also seeking opportunities to sell electric vehicles in Europe where regulators have been tightening up emission rules to tackle environmental issues, the source said.
"Qingyuan is rather positive on the outlook of its export business as market potential for green cars in the U.S. and Europe is huge," said the source.
Qingyuan declined to comment.
Other Chinese automakers are also stepping up investment in the green car sector which is poised to take off.
BYD Co -- 10 percent controlled by Warren Buffett's Berkshire Hathaway Inc, has sold several hundred of its plug-in hybrid, F3DM, unveiled in December 2008. It also plans to export its first electric car, the e6, to the United States this year.
Chery Automobile Co, Beijing Automotive Industry Holding Corp (BAIC) and SAIC Motor Corp, among others have unveiled their electric or hybrid models.
HOME MARKET
Beijing said in December it would expand its pilot scheme to subsidize the purchase of clean-energy vehicles for public transport fleets in 13 to 20 cities.
It would also subsidize the purchase of "environmentally friendly" vehicles in five cities selected for a pilot program to private car buyers for the first time.
The move presents new growth opportunities for Qingyuan, which has been seeking to cooperate with domestic and foreign car ventures in China in the green vehicle segment.
A source told Reuters in September that Qingyuan was in talks with Daimler AG to develop an electric version of a van made at the German automaker's joint venture in southeast China.
Chery Auto, Beijing Hyundai, Hyundai Motor's car venture with BAIC, are also among its potential clients, the source said.
Qingyuan, based in the municipality of Tianjin near Beijing, is capable of producing 5,000 to 6,000 electric vehicles per annum.
Its near-term goal is to raise its production level for key components of electric cars, including motor and driving systems.
To fund expansion, Qingyuan is in talks with several potential foreign and domestic investors, said the source, without elaborating.
It may consider listing on China's Nasdaq-style second board, CHinNext eventually. The four-month old board is already home to 36 start-up firms, including movie maker H.Brothers and Aier Eye Hospital Group.
(Reporting by Fang Yan and Jacqueline Wong)
[Green Business]
Timothy Gardner
WASHINGTON
Tue Jan 5, 2010 4:33pm EST
U.S. scrapped more cars than bought new ones
WASHINGTON (Reuters) - Americans scrapped more automobiles than they bought last year as the ragged economy reduced demand and some major cities expanded mass transit service, according to a new report.
The United States scrapped 14 million autos while buying only 10 million last year, shrinking the country's car and light duty truck fleet to 246 million from a record high of 250 million, according to the report to be released on Wednesday by nonprofit group the Earth Policy Institute (EPI).
The United States, the world's biggest petroleum user, "is entering a new era, evolving from a car-dominated transport system to one that is much more diversified," said Lester Brown, the president of the EPI.
While many cities like New York have had to cut mass transit services and raise fares during the recession, Phoenix, Seattle, Houston, Nashville and other cities have expanded or improved mass transit systems.
Cities are taking a variety of steps, like adding rapid bus lanes and light duty rail, to fight traffic congestion and air pollution. Some are raising parking meter prices and cutting down the required parking spaces per building, the report said.
President Barack Obama's "cash for clunkers" program, which last summer gave consumers a rebate of up to $4,500 for trading in older cars and light trucks, led to the scrapping of more than 700,000 vehicles. But since the incentive was only available to consumers who bought new fuel-sipping vehicles, it did not affect the ratio of scrapped vehicles to new sales.
Market saturation of autos, urbanization, high oil prices that reached a record $147 a barrel in 2008, and the uncertain economy have helped cut car sales, Brown said. Given those forces, sales may never reach the 17 million per year level they were between 1999 and 2007, he said.
Because more people live in cities than a few decades ago, young people, particularly those burdened with student loans, are foregoing car purchases, the report said.
As more people live in cities, some teens are not even bothering to get driver's licenses. The number of teenagers with licenses peaked at 12 million in 1978 but is now under 10 million, the report said.
"When I was a kid socializing revolved around getting into a car and going for a drive," said Brown. "Today kids socialize over the Internet and on smart phones."
A continued drop in auto purchases could cut long-term oil demand and greenhouse gas emissions from transportation. he said. It could also lead to increases in steel supplies as big cars get recycled, Brown said.
Brown used data from the U.S. Federal Highway Administration and R.L. Polk & Co to write the report.
(Editing by Philip Barbara)
[Green Business]
TORONTO
Tue Jan 5, 2010 4:12pm EST
Sunoco to pay Pennsylvania air quality fines
TORONTO (Reuters) - Sunoco Refining and Marketing will pay $173,310 in civil penalties for air quality violations at its 178,000-barrel-per-day refinery in Marcus Hook, Pennsylvania, that occurred in 2008, state authorities said on Tuesday.
According to the Pennsylvania Department of Environmental Protection Southeast Regional Director, Sunoco had several reported incidents of emissions, as well as numerous air permit and storage tank violations, during the same time period.
"Sunoco views this as an opportunity to maintain our efforts in continuous improvement," said Thomas Golembeski, a spokesman for the refiner.
" We take our environmental performance seriously. We self-reported our air emission releases and cooperated fully with Pennsylvania DEP inspections. The safe, reliable and environmentally sound operation of our facilities is our main focus," he added.
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