How Asia’s ‘first lady of coal’ says she’s working on a sustainable future

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4 years ago

June 7, 2021

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BANPU-TH

Coal is one of the world’s biggest polluters, with its transportation, storage and usage accounting for around 40% of the world’s greenhouse gas emissions, according to the United Nations.

One executive who says she wants to help reduce the Asia-Pacific region’s dependence on the fossil fuel is Somruedee Chaimongkol, chief executive of energy firm Banpu Public Company. The company has operated coal mines in Thailand for almost four decades.

Sometimes known as Asia’s “first lady of coal,” Chaimongkol became CEO of the company since 2015 and established what she called a “greener, smarter” business plan for the firm the following year.

“Since 2010, we talk about transformation. And since 2015, when I succeed my predecessor as CEO, we start to implement on the greener, smarter [plan]. For the past five years, we spent $2 billion and 90% of [that went on] … a greener investment, such as gas, such as renewable energy, and energy technology,” Chaimongkol told CNBC’s “Managing Asia: Sustainable Future.”

“[There are] a lot of mega trends happening — digitalization, decarbonization, decentralization — and that sped up Banpu to produce a new, greener, smarter strategy,” she added.

Founded in 1983, Thailand’s Ban Pu Coal Company Limited began its operations in the country’s northern Lamphun Province and listed on the Thai stock exchange six years later. In 1993, it took on its current trading name, and in the following years expanded into other parts of Southeast Asia and China.

Last year it established Banpu Next, which encompasses its energy technology businesses including electric vehicles, renewable energy plants and electric ferries.

Banpu’s 2020 annual report indicates that coal accounted for more than 95% of Banpu Public Company Ltd’s revenue in 2020, a figure more or less in line with 2019. The same annual report shows that including the company’s overseas subsidiaries, coal accounted for more than 80% of total revenue.

The company has been buying up natural gas assets in the United States for the last several years.

In March, the firm said it wants to make half of its earnings from “green” energy by 2025.

“We are adding more rapidly on the renewable generation in Japan, Vietnam and in China … And we have set up Banpu Energy Australia,” Chaimongkol said.

Electric vehicles

The company also wants to create an energy “ecosystem” within Banpu NEXT, covering everything from energy creation and storage, to distribution and building charging stations for EVs. Chaimongkol said the division can generate “significant” revenue by 2025.

“Under Banpu NEXT, currently the major revenue contribution is still from energy generation from solar farm and wind farm. Going forward, we will scale up on … [the] energy technology,” she explained.

One aspect of the new system is a tech platform that helps to manage fleets of electric three-wheel taxis known as tuk-tuks, as well as four-wheel vans. “What we are selling to our customer is selling the platform, selling the solution, managing … a fleet [and providing] … e-charging station[s],” Chaimongkol explained. In November, Banpu NEXT launched an electric powered ferry that will operate rides for tourists around the Thai island of Phuket, and in March it invested in Urban Mobility Tech Co (UMT), an EV ride-sharing company based in Bangkok.

A mini electric vehicle from Banpu Next in Bangkok on February 26, 2021.

Romeo Gacad | AFP | Getty Images

Will Banpu ever exit coal mining altogether? Not in the next five to 10 years, according to Chaimongkol, as there will still be a demand from customers for it. But the company won’t invest in new coal assets, she said, adding it will instead be pumping money into renewable energy and in doing so reducing the contribution of coal to the firm’s turnover.

Chaimongkol said future business plans would “embed” sustainable policies and gave the impression she’d like to move away from her “first lady of coal” nickname. “Right now, Banpu is transforming and … our direction is towards a greener, smarter [plan]. But if [we] talk about leading the company, I would say Banpu is an energy company,” she stated. Her leadership is about making sure managers of the firm’s four divisions — minerals, gas production, conventional coal-fired power and Banpu NEXT — can focus on the “greener” strategy, she added.

Banpu has been selected as a member of the Dow Jones Sustainability Indices benchmark for seven consecutive years, which Chaimongkol hopes will appeal to investors. Companies are chosen following an assessment of ESG (environmental, social and governance) criteria.

“I hope that investor[s] will see this strong … commitment [to] being a conscious company. I hope that it will reflect in the value of the company going forward,” she said.

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Mercedes-Benz offers an exclusive first look at the new electric GLC

Published

21 mins ago

July 10, 2025

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Mercedes-Benz offers an exclusive first look at the new electric GLC

Mercedes-Benz is gearing up to unveil the electric version of its best-selling SUV, the GLC, later this year. With its official debut just around the corner, Mercedes revealed a few new details, offering an exclusive first look at the new EV.

Mercedes offers an exclusive look at the new electric GLC

Although we got a sneak peek of the electric SUV in March during winter testing in Northern Sweden, Mercedes is giving us a better idea of what to expect.

“We’re not just introducing a new model – we’re electrifying our top seller,” Mercedes-Benz Group CEO, Ola Källenius, said on Thursday.

Mercedes promises the electric GLC “sets new standards” with a sleek new design, advanced tech, and its new MB.OS operating system.

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The new GLC EV is an upgrade over the current model, offering significantly more space and improved ride quality. Since the wheelbase is 3.1″ longer than the current gas-powered SUV, the electric version has more legroom and headroom for front and rear passengers.

With all the seats folded, the electric SUV offers 61.4 cubic feet of space. The gas-powered model features up to 56.3 cubic feet of cargo space. Plus, you get an extra 4.5 cu ft of space in the trunk (front trunk).

Källenius said that with Mercedes’ new 800V electric architecture and latest batteries, the electric GLC can regain around 260 km (161 miles) WLTP range in just ten minutes. He added that DC fast charging at over 320 kW is possible.

The GLC 400 4MATIC with EQ Technology will arrive with impressive towing capability of up to 5,291 lbs. In comparison, the Tesla Model Y can only tow up to 3,500 lbs.

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Mercedes-Benz CEO Ola Källenius tests a prototype of the new electric GLC (Source: Mercedes-Benz)

Added features, such as ESP trailer stabilization and trailer maneuvering assistant, make it even easier to tow with optimized stability and control.

Källenius also teased the new electric GLC design, calling it the start of a “new era” and “a new face of the brand as the first in a family of upcoming vehicles.”

Mercedes-GLC-EV-first-look — Mercedes GLC EV prototype with EQ Technology testing in Sweden (Source: Mercedes-Benz

The inside is just as impressive, providing a holistic experience. A “majestically floating next generation MBUX Hyperscreen” is optional, providing a spatial experience powered by the new MB.OS supercomputer.

Mercedes will unveil the new electric GLC at the 2025 International Motor Show in Munich on September 7, 2025.

Mercedes-CLA-EV-interior — The new electric Mercedes CLA interior (Source: Mercedes-Benz)

Although official range figures will be revealed at the event, according to Car and Driver, which tested a prototype model, Mercedes said it expects the new GLC to provide a WLTP range of just over 400 miles, or slightly more than 300 miles on the EPA scale, from a 94.5 kWh battery.

Prices will also be announced in due time, but given that the current GLC 350e 4MATIC PHEV starts at $59,900 in the US, you can expect the electric model to be priced slightly higher, at around $65,000.

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Tesla (TSLA) pushes its shareholders annual meeting all the way to November, but why?

Published

46 mins ago

July 10, 2025

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Tesla (TSLA) pushes its shareholders annual meeting all the way to November, but why?

Tesla (TSLA) announced its 2025 annual shareholders meeting at the very last minute, and it pushed it all the way to November, the latest it has ever held the meeting.

Tesla generally holds its annual meeting in the summer and announces it way ahead of time.

Today, the automaker announced that the meeting will be held on November 6:

The board of directors (the “Board”) of Tesla, Inc. (“Tesla”) has designated November 6, 2025 as the date of Tesla’s 2025 annual meeting of shareholders (the “2025 Annual Meeting”).

This is highly unusual for Tesla. Here are the dates of Tesla’s last 5 annual meetings:

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2020: September 22, 2020
2021: October 7, 2021
2022: August 4, 2022
2023: May 16, 2023
2024: June 13, 2024

At those meetings, shareholders vote on several matters, including the reelection of directors and shareholders’ proposals.

Tesla has not released any yet, but they are expected to be in the upcoming proxy statement, which Tesla should release in the coming weeks.

Why does Tesla need more time?

Electrek’s Take

I think Tesla is working on some proposals that are going to take time to put together and then to sell to shareholders – hence why the meeting is set for November.

There are two suspects: a new CEO compensation package for Musk or a merger/acquisition of xAI.

It could also be both, but I think that would be harder to swallow for some shareholders as both initiatives have a clear aim of giving Musk a bigger stake in Tesla.

I think sane investors should not want that, but Tesla shareholders don’t fit in that category. Much of Tesla’s value is attached to Musk’s lies and ridiculous predictions. The value will have to come down to reality at some point, but they are a bunch of gamblers who are enjoying the ride in the meantime.

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NIO (NIO) opens orders for the new three-row Onvo L90, starting at under $30,000

Published

2 hours ago

July 10, 2025

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NIO (NIO) opens orders for the new three-row Onvo L90, starting at under ,000

A three-row electric SUV for less than $30,000? Sign me up. NIO (NYSE: NIO) opened pre-orders for the new Onvo L90 on Thursday, starting from 193,900 yuan, or about $27,000.

NIO kicks off Onvo L90 pre-orders in China

NIO claims the Onvo L90 is the lightest full-size three-row SUV in its class, with a curb weight just under 5,000 lbs (2,250 kg). In comparison, the Lucid Gravity has a curb weight of 5,966 lbs (2,712 kg).

The new flagship model is designed as a family-friendly SUV, offering ample interior space and advanced technology.

At 5,145 mm long, 1,998 mm wide, and 1,766 mm tall, the Onvo L90 is slightly bigger than the Lucid Gravity. In China, it will go head-to-head with higher-end electric SUVs like Li Auto’s L9.

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However, the L9 is an extended-range electric vehicle (EREV) and starts at around 409,800 yuan ($57,000), more than double the price of the Onvo L90.

The low price of 193,900 yuan ($27,000) applies only to those who rent the battery. Nio’s Battery as a Service (BaaS) costs 899 yuan ($125) a month. With the battery included, the Onvo L90 still starts at just 279,900 yuan ($39,000).

Nio’s new electric SUV is offered in six and seven-seat configurations. The interior features a massive 17.2″ floating infotainment screen at the center.

Other interior highlights include a three-zone climate control system, massage, heating, and ventilation for every seat, as well as an additional entertainment screen for rear passengers. And like many new vehicles in China nowadays, it even comes with a built-in refrigerator.

Powered by an 85 kWh battery, the Onvo L90 offers a CLTC range of 605 km (367 miles). It’s also based on NIO’s next-gen 900V platform, unlocking class-leading energy consumption of just 14.5 kWh per 100 km.

Buyers can choose from single and all-wheel-drive powertrains. The AWD version boasts up to 590 hp (440 kW), good for a 0 to 100 km/h (0 to 62 mph) sprint in just 4.7 seconds.

NIO is offering an incentive for early pre-order holders. Those who place an order with a 2,000 yuan deposit will receive a 5,000 yuan credit off the vehicle and an extra 5,000 yuan for optional features and more. Nio plans to begin delivering Onvo L90 to customers, starting on August 1.

The L90 is the second Onvo-branded EV to arrive in China, following the smaller L60, launched last September.

Source: CarNewsChina, NIO Onvo

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