Tata Motors recently unveiled the electric avatar of its most popular small commercial vehicle Ace. The company said it has booked orders for 39,000 units from top e-commerce players. India’s largest commercial vehicle manufacturer plans to transform commercial vehicles to achieve a net-zero target by 2070 for the country. PSR
Aditya Kondejkar is Research Analyst – South Asia Operations, for Power Systems Research
Cost increases in several areas caused HanseYachts AG to report a loss of EUR 20.72 million (US$25 million) for the fiscal year 2021/2022 ended June 30, 2022. However, because of the great demand during the pandemic for sailing boats and fully complete order books, production increased from 446 to 568 boats, compared to the previous year.
Revenues totaled EUR 132,38 million, an increase of 22.8% compared to the previous fiscal year. But, at the same time, costs of materials increased 40.7%, personal expenses climbed 22% and other operating costs increased 58%. All this led to a net loss higher by 130.5% compared to the previous fiscal year.
The recent Covid-19 shutdown and worker absenteeism heavily impacted the finances of the group for fiscal year 2021/2022.
HanseYacht Group said it will not exhibit this year at BOOT, the biggest indoor pleasure boat trade show held in Dusseldorf, Germany.
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.
German boat manufacturer HanseYachts AG has announced preliminary financial results for 2020-2021 that it has described as “exceptional for the company in all respects.”
The group, established in 1990, manufactures sailing, motor yachts and luxury sailing, and motor catamarans under the brands Hanse, Dehler, Moody, Privilege, Fjord and Sealine. Boats are produced in Germany and France, and are equipped with Volvo, Yanmar and Mercury engines.
Despite the production problems caused by delays in parts supply, the group achieved record results in 2020/2021, with the order book counting more than 1,000 boats. Previously, the group’s best year was 2007/2008 when 940 boats were ordered. The revenue this year is expected to be more than € 230 million.
Groupe Beneteau, one of the world’s leading manufacturers of pleasure boats and mobile homes, posted revenue of USD 1.6 million (1.508,1 million EUR) for 2022. The boat division generated USD1.3 million (1.250,9 million EUR), 83% of the group’s total revenue.
The Group order books are full for this year. The forecast is for 10% growth compared to revenues achieved in 2022. Last year, revenues by market were at 613.20 million EUR for Europe, 424.4 million EUR for North America and 135.9 million EUR for other regions.
The group plans to launch 13 models in 2023, of which five will be new models of dayboats, four models of sailing yachts, two models of sail catamarans and two models of power catamarans.
The boat division revenues increased 19.7% compared to 2021. The motorboats division contributed 58% of the total and the sailing division added 42%. The best-selling boats are the motor dayboats in size up to 8 meters followed by the sailing multihulls over 10 meters.
XCMG Group and Toyota have signed a strategic cooperation agreement in the field of hydrogen energy. The companies will build a complete hydrogen energy machine and core component industry base centered around Xuzhou, which will drive development of the hydrogen energy industry in Xuzhou.
XCMG Group expects this contract to aid both parties to collaborate and innovate in cutting-edge technology research and development applications such as hydrogen vehicles, fuel cells, and core components.
Using hydrogen energy to change the future is the goal of Toyota and XCMG. The foundation for the development of Xuzhou’s green and low-carbon energy industry is solid.
Source: D1CM Read The Article
PSR Analysis: XCMG Group and Toyota have strong complementary prospects, and huge potential for cooperation and development. Working together, they will accelerate the progress of off-road machinery from traditional fuels to electrification and finally to fuel cells.
Toyota has always been a major supporter of hydrogen fuel cell vehicles as an alternative to electric vehicles. Toyota will focus on selling hydrogen powered trucks and cars in Europe and China. In 2022, Toyota sold over 3,900 fuel cell vehicles, while its global sales are about 9.5 million units.
Toyota hopes to sell 200,000 hydrogen powered vehicles by 2030. The products of XCMG Group include five pillar industries: Construction Machinery, Lifting Machinery, Piling Machinery, Concrete Machinery, and Road Machinery, as well as strategic new industries such as Mining Machinery, Aerial Work Platforms, Environmental Industry, Agricultural Machinery, Port Machinery, and Rescue Support Equipment. It has over 60 enterprises under its jurisdiction, including mainframe, trade services, and new business models. This cooperation could have a major impact on both parties. PSR
Jack Hao is Senior Research Manager – China for Power Systems Research
This article first appeared in the March 2020 issue of PowerTALK™ News
China is one of the leading suppliers of auto components to India, and this supply chain was significantly interrupted in Q1 2020 by the caronavirus. In 2018-19, components worth an estimated US$4.5 billion (out of a total of approximately $17 billion) were exported from China to India. Most of this trade is in electronic components, EGR modules, fuel injection pumps, turbochargers, meter sets, LEDs, magnets, airbag components, and steering system components.
Since the discovery of the Coronavirus in December 2019, this supply chain has been affected. The covid-19 pandemic has started taking a toll on components supply and automotive production in India. The situation is further amplified, as China has terminated all sea routes to other parts of the world.
Media outlets in Korea are reporting that Hyundai Heavy Industries is to acquire a 34.97% share in Doosan Infracore from Doosan Heavy Industries & Construction for €630 million (Korean Won 850 billion). Doosan Infracore is the heavy construction division of the Seoul-headquartered Doosan Group.
The transaction does not include Doosan Bobcat, which accounted for 57% of Infracore’s 2019 revenues. The deal will mean that Hyundai will own Hyundai Construction Equipment as well as the Doosan Infracore construction equipment business. Regulatory authorities in South Korea and other countries including China must approve the acquisition; plans call for completion of the acquisition by the third quarter of 2021.
Source: International Construction.com
PSR Analysis: This appears to be a strategy by Hyundai Heavy Industries to gain economies of scale by bringing Hyundai Construction Machinery and Doosan Infracore into the fold, and to expand its market share, especially in the Chinese market.
Hyundai Heavy Industries has positioned the construction machinery division as its core business, the third pillar after shipbuilding and plants. Demand for construction machinery is strong in China, India, and Southeast Asia, and the company is hastening its overseas expansion by expanding its scale through acquisitions in the same industry. Chinese companies such as XCMG and Sany are growing rapidly, supported by domestic demand. Hyundai Heavy Industries seems to have decided that deepening its cultivation of the Chinese market through the acquisition of Doosan’s business is essential for its survival.
On the other hand, Doosan Heavy Industries has been in the red for six consecutive fiscal years through 2019, as its mainstay heavy electric machinery division has been underperforming due to the government’s policy of freezing nuclear power plants. While receiving support from government-affiliated financial institutions, the company has been selling off its non-core businesses in order to rebuild its business. So far, the company has sold off businesses including construction companies, real estate, and hydraulic equipment. Once this sale is completed, the company is expected to be able to achieve a certain degree of financial improvement. PSR
Akihiro Komuro is Research Analyst, Far East and Southeast Asia, for Power Systems Research
This report comes from General Director of GAZ Power Aggregate division Konstantin Rukhani. “After 18 months we shall complete the tests, after about 2.5 years, we’ll come to mass conveyor production,” he told Ruhani. He added that the design of the new hydrogen engine will be similar to its gas reciprocating engine.
“We consider that at the moment, if we come to the strategy of use gas piston engine working on hydrogen, we can get vehicle with a price of 30-34% higher than current ones. The engine will be less demanding for the purity of hydrogen fuel,” he added.
SOURCE Tupy S.A. Read The Article
Tupy S.A., a Brazilian-based manufacturer of engineered cast iron structural components, today said it has agreed to acquire FCA’s global cast iron automotive components business, which is operated through FCA’s subsidiary Teksid S.p.A.
PSR Analysis: With the acquisition of the Italian cast iron foundry, the Brazilian company will have almost 10% of the global sales in the segment with a combined revenue in the range of 7 billion Reais (approximately $ 1.8 billion USD. PSR
Tupy says this deal will expand its presence in key segments of the global capital goods industry and will expand its potential for growth in machining and engineering services.
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