2024-07-14
Canada is preparing to join the tariff war against Chinese EVs, according to a report in the July 2024 issue of the Alternative Power Report prepared by Power Systems Research. Another article in the report notes that even thought EV sales are lagging, they’re positioned for long-term growth. And there’s plenty of battery news in this report prepared by PSR analyst Guy Youngs. PSR
2024-06-18
JCB has unveiled the largest investment in its history in Latin America. It will inject US$ 100 million into its Latin American operations with the goal of doubling its size in the region by 2030.
The majority of the resources, US$ 70 million, will be allocated to factory expansion. According to JCB, US$ 30 million will be invested in the modernization of the Sorocaba (SP) facility.
An additional US$ 10 million is earmarked for the development of new products and the localization of certain equipment. Another US$ 10 million will be directed towards the distributor network.
The company says this investment is expected to generate 1,000 new jobs: 300 direct and 700 indirect. Currently, JCB employs 600 people in Latin America, most of whom are based in Sorocaba, which serves as the production hub for the entire region.
2024-05-27
Last October, the European Commission opened an inquiry into whether Chinese automakers are the beneficiaries of such significant subsidies by the Chinese government that they have an unfair economic advantage over domestic manufacturers. The question is ridiculous, of course. Everyone on Earth knows the Chinese government has been providing massive support to its automotive sector for 20 years.
China has been open about its commitment to electric car manufacturing. It has told everyone its plans and then made those plans a reality. So, it should come as no surprise that Chinese companies can build electric cars in China, ship them overseas, and still undercut the price of electric cars from domestic manufacturers by 25% or more.
2024-04-17
Brussels, Belgium – After weeks of uncertainty and, finally, a bankruptcy, bus and trailer manufacturer Van Hool can look to the future again. The company trustee has accepted the bid from the competitor VDL – Schmitz-Cargobull. This move was seen by the trustee as the quickest and most efficient way to restart the operations without losing additional company value, and important resources.
John Deere, has announced the acquisition of the condominium housing the company’s regional office in Indaiatuba (SP) and the Parts Distribution Center for South America (SA-PDC) in Campinas (SP), along with adjacent land for future expansion. The company also recently has acquired two plots in the Montenegro Industrial District (RS). These investments are part of the company’s ongoing commitment to development and expansion in the national market.
Volvo has received authorization from the Ministry of Transportation to begin testing its heavy electric trucks in Brazil. The vehicles will be part of a study and will be able to operate in urban areas, metropolitan regions, and short to medium-distance intercity transportation, aiming to evaluate their performance and impact on pavement in this type of operation.
The transport companies ReiterLog and Ritmo Logística will be the first to operate the Volvo electric trucks. Preliminary results from the study, led by Senatran (National Traffic Department), with technical coordination from Inprotran (National Institute of Traffic and Safety Projects), in partnership with Volvo, Prometeon, UNB, and UFRGS, indicate benefits of operating zero-emission CO2 vehicles, such as high energy efficiency, absence of noise, low vibration levels, and increased driver comfort.
2024-03-17
Rolls Royce Power Systems Business Unit, based in Friedrichshafen, Germany, reported sales of EUR 4.56 billion in fiscal 2023, a 16% increase over 2022. Operating profit hit 10.2%, up from 8.4% in 2022.
The operating profit increase is due to the investments in transformation and process optimization, implementation of a new commercial policy, better cost, and stock management.
Strong demand for standby power generation especially for data centers, implementation of the “From bridge to the propeller” strategy for large yachts, and development of an energy storage systems in Europe integrating renewable energies into the Duch public grid have contributed significantly to the revenue growth.
After months of investigation, the European Commission says it has found evidence that China has been “unfairly” subsidizing the EVs it exports to Europe. Possible “remedies” on the table include retroactive tariffs on Chinese EVs.
Source: Electrek: Read The Article
PSR Analysis: This article was mentioned in previous issues of the Alternative Power Report and now that the EU has found its evidence, we can expect tariffs to be raised, especially as the European car market continues to flounder. PSR
Guy Youngs is Forecast & Adoption Lead at Power Systems Research
2024-02-27
Volkswagen announced Feb. 4, 2024, that it plans to invest US$ 250 million in Argentina by 2026. Primarily, the funds will facilitate the ongoing production of the Amarok medium pickup truck, coinciding with the imminent launch of its new generation. Additionally, resources will be allocated towards sustaining the production of the Taos SUV.
At the same time, a new stamping line will be established in Pacheco. The investment also will enable the commencement of Ducati Motorcycle production at the Córdoba unit, which currently focuses on Volkswagen transmissions.
2023-10-24
Sonalika Group is planning to spend approximately $100 million to set up a manufacturing facility for the production of tractors aimed at the international export market. Production will be used to developing products tailored to meet customer requirements in Latin America, Europe, United States, Oceania and South Asia
“We are looking at investing $100 million to set up a dedicated facility for exports. The new unit will have total installed capacity of 100,000 units and will be commissioned within the next two years,” according to Gaurav Saxena, director and CEO of the company’s International Tractors Ltd., operation.
One-third of the group’s revenue is attributed to exports, and the organization aims to be among the world’s top three tractor brands by 2030, considering the global sale of 1.5 million tractors. Presently, ITL exports 35,000 units and has set a target to reach 100,000 units within the next seven years.
World Headquarters
St. Paul, MN USA
Detroit Regional Sales
Ann Arbor, MI USA
Campinas, Brazil
