In this edition, the KPM Weekly explores the Scottish green hydrogen vision as the government publishes a new export plan with bold ambitions. The report also looks into China’s carbon market and the balancing act of the 3Ps: progress, profit and policy. This week, our company spotlight is on Pylon Technology – a Chinese firm that develops battery energy storage solutions focusing on lithium iron phosphate (LFP) chemistry.

New EV data shows China continues to drive electrification globally, with the country registering 1.26 million new all-electric and plug-in hybrid cars in November. In Europe, the UK took the lead in BEV sales volume after a 58% surge, primarily driven by a race to meet mandatory sales targets – which is unlikely to happen. France and Germany saw declines of 24.5% and 21.8% in new BEV registrations, respectively. Italy and Spain, two of the top automotive markets in Europe, also experienced a fall in demand for EVs.