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Nuclear power will not be part of Australia's energy mix, Australia's climate and energy minister says

Nuclear energy has never been part of Australia’s energy mix as it has abundant renewables, according to Australia’s minister for climate change and energy. 

“I’m not here to tell other countries what to do. Nuclear plays a role in various countries’ mix, but in Australia, it never has,” Chris Bowen told CNBC on the sidelines of the G20 energy ministers meeting in Goa, India.

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“Wherever you look, there’s issues from our point of view with nuclear energy,” he said, outlining problems that can come from adopting nuclear energy. 

Apart from being extremely expensive, it generates large amounts of waste and is an inflexible energy source, he told CNBC’s Sri Jegarajah on Saturday. 

Furthermore, Australia will be starting from “worse than scratch” since it never had a nuclear industry in the first place, he said. 

Liddell Power Station, one of Australia’s oldest coal-fired power plants, was shut down on 28 April, 2023, after 52 years in operation.

Roni Bintang | Getty Images News | Getty Images

Australia is also on its way to reducing reliance on coal and increasing its dependence on gas instead. 

“Gas plays an important role in firming the grid as coal fired power leaves the grid … We have negative prices a lot during the day in Australia, and yet coal fired power stations are churning away,” he said, highlighting that gas fired power stations are more flexible and can be turned on and off. 

The country shut down one of its oldest coal plants in April, and will be halting operations of another in 2025.

“They’re not going to be replaced with coal fired power, it’s just not going to happen,” Bowen said. “It’s not economic, it’s not in the future and the emissions are bad.”

Renewable energy is the way to go 

To keep the lights on, Australia will have to “double down” on its investments in renewable energy, storage and transmission, the Australian minister said. 

“We have such abundant renewables … Vladimir Putin can’t turn off the sun or the wind, [but] he can turn off the gas pipeline,” Bowen said referring to the Russian president, who has cut off gas supplies to Europe in retaliation against Western sanctions imposed as a result of the unprovoked war in Ukraine.

“For those countries that are blessed with abundant renewables, harnessing those renewables, increasing their share of our energy mix, and then exporting as much as possible in due course, is vital for national security as well.”

Australia’s renewable energy sector has made steady improvements in the last few years.

Renewable energy accounted for 35.9% of the country’s total electric generation in 2022, more than double from what it was in 2017 at 16.9%, according to a report by the country’s Clean Energy Council. 

A greater push toward renewables has reduced coal demand. Share of coal generation fell from 59.1% in 2021 to 54.6% in 2022, but gas production increased by 1.2% in 2022 compared to the year before, the report said. 

Wind turbines seen on hills surrounding Lake George, located near the Australian capital city of Canberra on May 30, 2023.

David Gray | Getty Images News | Getty Images

Bowen said Australia needs more investments in order to reach its net-zero goals, and this can be done if each sector is looked at individually. 

“Sector by sector plans are important for Australia because each sector is so different,” he said. “We need the … government’s view of how this decarbonization is likely to happen, so we know where to focus our investments.”

He said what the government can do is limited, and investments from Australian businesses are very much needed.

“I’ve been struck by the level of support and engagement from Australian businesses — big and small, and from international investors.” 

Asked what Australia aims to bring to the table at the COP28 climate summit in Dubai in November, Bowen said “this COP needs to be a step forward in the world’s ambitions.”

“We’ve got a lot of work to do. And we’ll be at the table engaging with countries of goodwill to try and get the best possible outcome,” he added.

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Vietnam setting bans on gasoline motorcycles next year, followed by cars

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Vietnam setting bans on gasoline motorcycles next year, followed by cars

Vietnam is taking bold steps to clean up its streets – and quiet them down. Starting next summer, the major downtown areas of Hanoi will ban all gasoline-powered motorcycles as part of a program to cut down on emissions.

The plan will go into effect on July 1, 2026, and then will expand the following year to cover more districts outside of downtown, and eventually include gasoline-powered cars as well. Other major cities like Ho Chi Minh City and Da Nang are now studying similar measures.

The plan is part of Vietnam’s national goal to phase out gas-powered two-wheelers entirely by 2045. And in a country where motorcycles are the lifeblood of daily transportation, with an estimated 72 million of them on the road, this marks a seismic shift.

The first phase of the ban will cover the Hoan Kiem and Ba Dinh districts of Hanoi within the Ring Road 1. These central areas are known for dense traffic, high pollution levels, and a thriving tourism industry. Officials hope that banning gasoline-powered motorbikes will reduce noise, smog, and carbon emissions while nudging residents toward cleaner electric alternatives.

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For now, the ban only affects motorcycles, but city officials have confirmed that it will extend to gasoline-powered cars in later phases. And while many Vietnamese cities have flirted with the idea of regulating vehicle emissions before, this marks the first concrete plan with a clear timeline. Ho Chi Minh City, the country’s largest urban area, is closely watching Hanoi’s progress and is said to be considering following suit.

Electric motorcycles and scooters are already a fast-growing market in Vietnam, led by homegrown companies like VinFast and Selex Motors. VinFast claims to have sold over 160,000 electric scooters as of early 2024, and Selex is rapidly expanding its battery-swap station network. But so far, electric two-wheelers only account for around 5% of the total market.

That number could soon change.

As gas-powered vehicles begin to disappear from urban centers, electric models may finally gain the upper hand. The government is also exploring support policies like financial incentives and improved charging infrastructure, both of which are key to getting more people to switch.

Still, there are hurdles. Many Vietnamese riders are hesitant to adopt electric bikes due to range anxiety, high upfront costs, and a lack of charging stations. But with regulatory pressure increasing and electric models becoming more affordable, the shift looks more like a matter of “when” than “if.”

Electrek’s Take

Vietnam banning gas-powered motorcycles is a big deal, and not just for local air quality. It’s also a major signal to the broader Southeast Asian market, where motorcycles vastly outnumber cars. If Vietnam can pull this off, it could become a model for electrifying personal transport in developing countries. Keep an eye on this one.

Each time I’ve visited Shanghai, for example, I’m amazed at how a pack of 30-40 motorcycles and scooters can whizz by with nothing but wind noise. China has set the example on how cities can clean up, quiet down, and improve their quality of life by mandating an end to gasoline-powered motorcycles. If other countries can replicate it in big cities, the improvement to local and global air quality would be massive, and that comes on top of all the hyper-local benefits like reductions in noise and urban grime.

That being said, one year is an incredibly fast timeline to shift literally millions of motorcycles to electric. It also doesn’t appear to address the financial burden this will put on residents who will have to replace their vehicle, even if locally produced electric scooters can be made affordable. I’ll be watching this one intently to see how officials can address these issues and if they can maintain this tight deadline. If they can pull it off, though, the face of major Vietnamese cities could change completely.

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Manitou and Hangcha commit to heavy equipment battery production JV

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Manitou and Hangcha commit to heavy equipment battery production JV

French equipment manufacturer Manitou has committed to a joint venture with Chinese forklift manufacturer Hangcha that will see the two companies develop and manufacture advanced lithium-ion batteries to support the electrification of the heavy material handler space.

Manitou is well-known in the West, so they need no introduction. Hangcha, though, is arguably just as capable of a company, having opened its first forklift plant in 1956, manufacturing others’ designs under license. They developed their own, in-house material handler in 1974, and have racked up hits ever since. Hangcha is currently the world’s eighth-largest manufacturer of industrial vehicles globally (sounds wrong, but here’s the source).

The plan for the JV is to upgrade the two companies’ deployed fleets of existing lead-acid battery-powered vehicle with longer lasting lithium-ion (li-ion) batteries to expand their operational lifespan. From there, the focus could switch to diesel retrofits and, eventually, the joint development of entirely new products.

“Deepening strategic cooperation with Manitou Group and jointly establishing a lithium battery joint marks a new phase in the partnership between the two sides, which is a milestone in Hangcha global industrial layout,” explains Zhao Limin, Chairman and General Manager of Hangcha Group. “Leveraging Hangcha’s core technological and manufacturing strengths in lithium battery solutions, we will collaboratively enhance solution capability of new energy industrial vehicle power systems. This partnership perfectly aligns with our shared objectives to accelerate electrification transformation and drive sustainable development, while providing robust support to the broader industrial vehicle market.”

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Manitou MHT 12330


MHT 12330 with 72,750 lb. lift capacity; via Manitou.

Once production begins, the joint venture factory will play a key role in supporting Manitou Group’s “LIFT” strategic roadmap. LIFT aims to expand Manitou’s electric vehicle lineup of telehandlers and forklifts, and have EVs account for 28% of total unit forklift sales by 2030. Hangcha Group, meanwhile, has publicly stated its intention to become 100% electric by the end of 2025.

This joint venture plans to recruit employees including engineers, operators, sales representatives and after-sales service technicians. Le Mans Metropole will support the recruitment and local integration and training of future employees.

SOURCE | IMAGES: Manitou; images by Manitou, via Belkorp AG.


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With another tariff deadline looming, these 10 things are going the right way for stocks

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With another tariff deadline looming, these 10 things are going the right way for stocks

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