Connect with us

Economy

Chinese company plans to build EV battery plant in Xining – Executive Digest

Published

on

Chinese company plans to build EV battery plant in Xining - Executive Digest

Portugal has signed a memorandum of understanding with the Chinese company CALB for the construction of a factory for the production of batteries for electric vehicles in Sines. This was announced by Economy Minister Antonio Costa Silva, who confirmed this Wednesday in parliament the government’s plan to negotiate international investment in the construction of the first gigafactory in Portugal.

The statements were made as the minister answered MPs during the 2023 state budget hearing, and despite not naming the China Aviation Lithium Battery Technology (CALB) promoter, he has already notified local authorities that he has signed a 3- th number. dated November, a memorandum of understanding with a company controlled by the Portuguese Agency for Investment and Foreign Trade (AICEP), responsible for attracting foreign investment and managing the Industrial and Logistics Zone of Sines (ZILS).

According to the company’s latest report, AICEP Global Parques has a 2,375-hectare industrial park in the municipality, while ZILS has industrial and service areas.

Thus, it is in Sines that Chinese investors will be able to build a plant for the production of batteries for electric vehicles, a project that, according to the minister, will allow the country to complete the entire lithium value chain, and which could supply the main Portuguese factories that assemble cars in the country. namely Volkswagen Autoeuropa in Palmela, Stellaantis in Mangualda and Mercedes in Tramagal.

The information, which has now been confirmed, was already put forward last week by Sines Mayor Nuno Mascarenhas. Then, in statements to the Lusa news agency dated November 3, the official said that Sines was one of the hypotheses. “This is one of the privileged places for CALB, as we have all the conditions here, but this is only the first intention,” he said.

See also  Renault: switch to electricity in France will cost 2,000 jobs

On the same day, CALB released communiqué which refers to the signing of a memorandum of “acquisition of surface rights with the intention of establishing a world-class intelligent, computerized and automated factory with zero carbon emissions” in the country.

On this occasion, Costa e Silva noted: “Sines can become an environmentally friendly shipping hub, I am absolutely convinced that green hydrogen, ammonia and methanol are the fuel that will power the marine fleet in the future, and if Sines survives all this investment, be absolutely determined. In addition to all this, one of the major investments is being made by a large international battery company that wants to manufacture batteries in Xining. (…) If that happens, with all the work we do with Volkswagen, Stellantis, Mercedes and other brands, we want to be the country that is at the forefront of electric mobility. These are difficult negotiations, but we are moving forward.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Economy

This house in the middle of a village in Braga costs 1.8 million (and even the maid’s room is luxurious)

Published

on

This house in the middle of a village in Braga costs 1.8 million (and even the maid's room is luxurious)

It has “only” four rooms, but it costs 1.8 million euros. The family home, located in União de Freguesias de Escudeiros e Pensamento, five minutes from the center of Braga, is the most expensive family property for sale at luxury real estate agency Engel&Volkers, but it comes with some “add-ons” that, for some of them, may worth the investment.

The villa is located on a plot of 3800 square meters (m2), has six rooms, four bedrooms, four bathrooms, a swimming pool, a “small grass football field and a vineyard plot”, parking, central heating, air conditioning and wooden floors.

According to Engel & Volkers, the increase in the cost of housing, in addition to the already described, is also “modern architecture, with highly detailed and refined finishes”, which fits into the policy of the agency, one of the main in the premium segment worldwide, which in 2020 earned about billion euros.

Photo: Engel & Volkers

Photo: Engel & Volkers

Photo: Engel & Volkers

Photo: Engel & Volkers

The ground floor has an entrance hall, a double living room separated by a fireplace, also double sided, overlooking the street, overlooking a small vineyard and with an outdoor pool.

The real estate agency also says that the house is surrounded by a “green and harmonious environment offering unique peace and privacy.”

Consulting the company’s website held this Saturday by O MINHO, and out of curiosity, managed to verify that there is an additional room on the first floor, also with luxurious touches, called the “maid’s room”. division into luxury villas that served to accommodate domestic workers without moving them to the owners’ sleeping area, although its existence is now common for people with less mobility.

Photo: Engel & Volkers

Photo: Engel & Volkers

Photo: Engel & Volkers

Photo: Engel & Volkers

Photo: Engel & Volkers

“On the same floor, we also have a large dining room, gym, kitchen with laundry room and maid’s room, as well as a garage for 2 cars,” emphasizes the real estate agency. On the ground floor, he adds, there are three “large suites” connected by a “shared balcony.”

Photo: Engel & Volkers

Photo: Engel & Volkers

Photo: Engel & Volkers

Photo: Engel & Volkers

Photo: Engel & Volkers

For those who are interested, and with a “full wallet”, a house “in the arms of nature, with enviable south exposure and complete privacy” is guaranteed.

See also  Natixis bus arrives in Lisbon to recruit up to 150 people for the center of Porto - Company

You can see the ad here.

Continue Reading

Economy

Bankers demand 6.25% pay rise at ‘breaking point’ and refuse further layoffs – ECO

Published

on

Bankers demand 6.25% pay rise at 'breaking point' and refuse further layoffs - ECO





Bankers demand 6.25% pay rise at ‘breaking point’ and refuse further layoffs – ECO































Your browser is out of date!

Update your browser to get the best experience and visualization of this site. Update your browser now

×

See also  Getting ready to shop online for Christmas? Pay attention, prices will go up!
Continue Reading

Economy

Woman with fake belly caught smuggling hundreds of semiconductors (already worth 500 times more)

Published

on

Woman with fake belly caught smuggling hundreds of semiconductors (already worth 500 times more)

Sanctions and supply chain issues have created a parallel market in China, where these chips are sold for 500 times the market value.

Chinese customs officials caught a woman trying to smuggle semiconductors inside a prosthetic belly while pretending to be pregnant. This arrest sheds light on the reality of smuggling that has emerged in the world’s second-largest economy following the sanctions imposed by the United States of America.

According to bloomberg, a woman was caught by the authorities while trying to enter Zhuhai via Macau on November 25. According to customs authorities, the suspect had more than 202 processors and nine smartphones.

The woman came to the attention of the authorities when she was asked what month she was pregnant. “She said she was five or six months pregnant but she had a big belly that looked like she was in her third trimester,” Chinese officials explained.

The economic crisis caused by covid-19 and all the problems that have arisen in the supply chain have opened the door to the emergence of a black market in semiconductors in a country that needs these advanced chips to produce millions of products.

The situation has worsened recently as the Joe Biden administration tightened sanctions on China, focusing on developing advanced technologies, especially for military use.

According to the North American economic publication, the situation is so serious that the prices of these devices reach values ​​up to 500 times their market price, which creates ideal conditions for creating an entire parallel market with telecom operators and resellers.

See also  US Court Convicts Theranos for Founder Fraud

Continue Reading

Trending