Page 6 - bneMag Dec22

6 I Companies & Markets bne December 2022
Westinghouse technology relies on the company’s AP1000 pressurised water reactor, a project commissioned in 2005. Nuclear power is the all-important plank in Poland’s plan to reduce the currently dominant share of coal and lignite in electricity generation. Due to its reliance on dirty fossil fuels, Poland’s electricity grid is one of the most carbon- intensive in Europe.
For Westinghouse, the Polish venture is not its first in the region. In May, the company signed a memorandum of understanding with the state-owned Bulgarian Energy Holding on building a long-duration energy storage facility in Bulgaria. In April, it signed memoranda of understanding with three Slovenian companies that will cover co-operation on potential AP1000 nuclear power plant projects across Central and Eastern Europe.
Central Asia:
Chinese cars race ahead
Joanna Lillis for Eurasianet
The first Chinese cars assembled in Uzbekistan are hitting the road, as Chinese companies expand manufacturing in Central Asia while Russian firms retreat under sanctions.
Four Chery-branded SUV models assembled at the ADM Jizzakh factory went on sale on October 27, Spot.uz reported.
Chery is offering soft credit to help customers afford prices ranging from $26,000 for the Tiggo 7 Pro model to $40,000 for the Tiggo 8 Pro Max. With a down payment of 25%, the interest rate is zero if paid off within 36 months or 7% within 48 months. Leasing is also available.
The Chery models are more expensive than vehicles manufactured locally by state-owned UzAuto Motors. The popular Nexia Chevrolet sells for around $11,000.
Chery plans to open 23 dealerships in Uzbekistan by 2024. The first is already working in Tashkent, and more are to open this year in Andijan, Fergana, Namangan and Samarkand.
Lured by perks like lower customs duties, in spring Wuhu- headquartered Chery Automobile Co signed an agreement to assemble cars at the factory in the Jizzakh Free Economic Zone. Assembly began in August.
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In 2021, Westinghouse signed a nine-year agreement for the modernisation of control and management systems at the Temelin nuclear power plant. Czechia also picked Westinghouse – along with France's Framatom – to supply fuel to Temelin.
A contract to build at least one reactor from scratch is, however, the biggest regional success for Westinghouse, which also remains very much in the game to build several more in Poland, in line with Warsaw's nuclear power strategy.
The company is also offering small modular reactors (SMRs), a technology that Poland is interested in as a cheaper
and faster-to-deploy way of proliferating nuclear power across the country, for example to provide power and heat
to cities.
With a cherry on top. / CheryUzbekistan.
Chinese manufacturer BYD Auto also recently signed a deal on car assembly in Uzbekistan with UzAuto Motors.
Chinese companies are spying a gap in Central Asian markets owing to international sanctions over Moscow’s war in Ukraine that are crippling Russia’s automobile industry.
Many popular Japanese and European models sold in Kazakhstan were previously manufactured in Russia, where factories have had to suspend production due to sanctions. The Russian government has also banned exports of some spare parts.
With delivery of cars from China to Kazakhstan taking no more than 18 days, Chinese manufacturers are well-placed to fill the gap.
So are Kazakh factories. Manufacturing in Kazakhstan was up 25% in the first three quarters of this year, according to data from the Association of Kazakhstan Automobile Business (AKAB).
Output at SaryarkaAvtoProm in northern Kostanay Region, which assembles Chinese cars under the JAC brand, rose by over 28%.
JAC was the fifth-most popular selling car in Kazakhstan in the first nine months of this year, according to AKAB data, behind Chevrolet, Hyundai, Kia and Lada.