Follow PSR’s team of analysts as they track the rapidly expanding global battery electric power market, including, battery technology, transportation, eMobility, mergers and acquisitions and more.
VW China has increased its share in the electric vehicle joint venture JAC Volkswagen to 75% and obtained joint venture management rights. At the same time, it has obtained a 26% stake in the EV battery maker Gotion High-Tech to support the future electrification of the group. The total investment of the above two projects is estimated to be about €2 billion.
The plant, which has an estimated investment of US$3.06 billion (20 billion yuan) from both Volkswagen and JAC Motors, will be finished by the end of 2022, and its first vehicle will roll off the assembly line in 2023.
What is the current state of electric vehicle technology globally as well as the U.S.?
From a medium and heavy truck perspective, electric trucks are still in the early stages of testing and it will still be a few years before we know if the current technology will be effective. Transit or city buses are much further along in the process since these are largely not for profit vehicles and have more dedicated routes that allow for more consistent recharge.
China is probably the furthest along with electric bus adoption with almost half of all medium and heavy buses produced being electric. While electrified bus adoption in North America and Europe is not nearly as strong as China, demand is increasing.
Data from the National Marine Manufacturers Association shows August was another strong month for new powerboat retail sales, which were up 8% year to date on a seasonally adjusted basis compared to a year ago.
New power boat retail sales did slowed in August following increases in the early summer months. Total sales were down 13 percent compared to July, while sales are still strong with increases across all major categories, year to date. Sales of saltwater fishing boats, tow boats, cruisers and yachts each had double-digit growth ranging from 11 percent to 15 percent, compared to 2019. PSR
Kawasaki Heavy Industries says it has been awarded a contract to design an electric propulsion system for the world’s first electric tanker. Two shipbuilders in Shikoku will build the two vessels, with the first one to be completed by March 2023. It is about 60 meters long and has a gross tonnage of 499 tons.
Hyundai Motor will collaborate with LG Electronics on home appliances for the interior of electric vehicles. The two companies will work together to develop OLED TVs to be mounted on the ceiling and walls, as well as home appliances such as refrigerators and coffee makers that make the interior of the car more comfortable. They unveiled the next generation concept car “Ionic Concept Cabin.”
Scania, a Swedish truck manufacturer, is developing an 18-meter long solar cell-clad trailer that will be able to generate energy from devices along 140m2 of surface area on the sides and roof.
According to the truck manufacturer, the powered trailer will be able to generate fuel saving between 5% and 10% in northern Europe, and up to double that in sunny regions like Spain. The tests are also validating the use of the trailers as power stations to feed the main grid, once they have completed charging the batteries and the vehicle is stationary.
During the past few years, many cities and states have committed to full adoption of their transit bus fleets to zero-emission vehicles. While the implementation dates vary, most are aiming to have the transition completed by 2040.
Chris Fisher
Since transit buses typically have pre-defined routs and access to recharging infrastructure, they are good candidates for adoption. It also helps that this segment is not-for-profit, and a short-term payback is not required. The significant barriers to adoption appear to have been overcome.
Zetta company has had to shift mass production of its Russian car “City Modul 1” until after 2020 because the Fund of Industry Development refused to provide credit of 99.9 million Rubles (about € 1.1 million).
Maxim Sakov
According to the Fund opinion, the company has insufficient budget to start the production, even with the requested credit. “The company needs an investor, who will believe in market potential of the product, and will co-finance the project together with the fund. The fund is ready to consider application one more time as soon as such investor will be found,” the Fund said
“City Modul 1” would become first serial Russian electric car. Zetta plans to make the car on its own production site in Tolyatti; production capacity is 15,000 units per year.
There seems little doubt that electric powered boats will grow as the fast-improving technology trickles down from the automotive industry, which is driving battery technology, to the marine engine industry.
Michael Aistrup
Today the electric boat has become a $4.5 billion global marine industry segment, and a report by IDTechEx shows that the market for hybrid and pure electric boats will rise significantly to over $20 billion worldwide by 2027.
Brushless permanent magnet electric motors and advances in lithium ion battery technology have allowed leaps to be made in the rush to marine electric. Lithium-ion batteries are half as heavy as lead-acid batteries and last three times as long, and advances in their effectiveness and stability have been significant.
Even though Tesla’s “Battery Day” was held Sept. 22, 2020, it didn’t produce the wildly exciting results that Elon Musk had promised would “blow your mind.”
Tyler Wiegert
During its event, Tesla unveiled plans to develop a “million mile” battery that could last an electric car’s entire lifetime on the road. It also outlined plans to dramatically reduce the cost of its battery cells and packs to $100 per kilowatt-hour, at which point experts believe electric cars will become comparable in price to combustion engine vehicles.
Bill Gates-backed QuantumScape, the first US battery company to go public in a decade, announced that it has overcome two major hurdles to create an all-metal lithium battery, which, if true, would allow electric vehicles to go up to 50% further on a single charge. Those hurdles were metallic lithium’s propensity to explode when it comes into contact with liquid and its needle structure that has historically punctured plastic separators between electrodes and caused shorts.
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