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.
In China this year, green construction machinery is seeing rapid growth, and demand across multiple scenarios is becoming unmistakable. EVE Energy is delivering full-scenario solutions for earthmoving equipment, aerial work platforms and specialized machinery. After six years of shipments in the construction-machinery segment, EVE Energy now ranks second nationwide; individual vehicles have logged more than 16,000 operating hours, and the company’s products are fitted to over 60 OEMs including LiuGong, SANY and Lingong.
According to data from the Construction Machinery Association, domestic sales of new-energy construction equipment are expected to surpass one million units by 2028, and the incremental market for green machinery is opening up rapidly—yet pain points remain: bulky batteries, short cycle life and complex assembly.
European carmakers sold 38% more electric cars in the first seven months of this year, ensuring that all but Mercedes-Benz are on track to comply with the EU’s 2025–27 emission targets, new T&E research finds
The report suggests that the two-year extension of the targets allowed carmakers to take the foot off the gas and will lead to 2 million fewer electric cars being sold between 2025 and 2027
2W mobility in India represents over 70% of all mobility in India and accounts for 60% of gasoline consumption. Motorcycle sales are twice the scooter sales in India. While scooters are seeing ~20% penetration of EV, motorcycles are at 0.1%. This implies that a very significant portion of 2W mobility remains untouched from electrifications.
The market is vast – The number of motorcycles in India is approximately 250 M and almost all are entirely petrol powered. Every year 20M new motorcycles are sold in India. Petrol’s share today is approximately 99.9%
Source: Clean Technica:Read The ArticlePSR Analysis. The most popular motorbikes in India are in the range of 100-125cc. These are the kind of class that electric motorbikes should be able to compete in; there are a lot of “125cc-equivalent” electric motorbikes around. The cost of purchase and the ease of charging are key drivers in the potential growth of 2W electric machines. PSR
Guy Youngs is Forecast and Technology Adoption Lead at Power Systems Research
In the September 2025 issue of the Alternative Power Report produced by Power Systems Research and authored by Guy Youngs, you’ll find articles on another major OEM dropping EV plans, an article on falling battery prices, a new more powerful and flexible EV battery from CATL, India’s EV pickup revolution and much more. Read the September Alternative Power Report today. PSR
Guy Youngs is Forecast and Technology Adoption Lead at Power Systems Research
Dongfeng Motor Group reportedly plans to sell its 50% stake in Dongfeng Honda Engine Co., Ltd. Joint venture with Honda Motor Co., according to an Aug. 18post on the official website of Guangdong United Property and Equity Exchange. The project is in the pre-listing phase, with no reserve price set, and the deadline is Sept. 12.
According to the audited figures in the listing documents, Dongfeng Honda Engine was valued at RMB 5.4 billion (approximately USD 752 million) in 2024. The company posted a net loss of RMB 227.8 million for the same period, carries liabilities of RMB 3.3 billion.
According to the official website of Dongfeng Honda Engine Co., Ltd., the company was established in 1998. Its shareholders are Dongfeng Motor Corporation, Honda Motor Co., Ltd., and Honda Motor (China) Investment Co., Ltd., holding 50%, 40%, and 10% of the shares respectively.
Vietnam, a country known for its large number of motorcycles, is experiencing controversy over its electric vehicle policy. The policy bans gasoline-powered motorcycles in certain areas of Hanoi, the capital, and has caused a stir. Honda, which holds an 80% share of the local motorcycle market, must rethink its strategy because most of its models run on gasoline. This sudden policy change could also disrupt daily life for residents.
In July, the Vietnamese government outlined bold measures to regulate gasoline-powered motorcycles in “Prime Ministerial Directive No. 20.” Starting in July 2026, operating gasoline-powered motorcycles within the Inner Ring Road in Hanoi will be banned. The Inner Ring Road spans over seven kilometers and includes the city center, home to government offices, the Japanese embassy, and the historic Old Quarter, a popular tourist destination.
Goiânia (GO) will become the first city in the world to operate a regular fleet of 100%-electric bi-articulated buses, as a result of a partnership between Volvo and GreenMob Capital. The fleet includes 21 Volvo BZRT buses—16 articulated (with a capacity of approximately 180 passengers) and 5 bi-articulated (with a capacity of about 250 passengers). These zero-emission, ultra-quiet vehicles are slated to serve the BRT Leste‑Oeste corridor within the RMTC system, with initial operations scheduled to begin by late August 2025.
Mitsubishi Logisnext plans to increase the electrification rate of its forklifts from approximately 60% to 90% by 2035. The company has its roots in Mitsubishi Heavy Industries and Nissan Motor Co., Ltd., and it specializes in high-output engine vehicles. However, the global electrification rate has already surpassed 70%, with Chinese companies leading the way in technology. To catch up, the company is introducing new models in China that align with the trend toward electrification.
“The price of lithium-ion batteries has dropped, which has led to increased customer demand for electric forklifts,” said President Maeno of Mitsubishi Logisnext. He highlighted the need to expand the company’s product lineup to meet market needs. As part of this strategy, the company plans to introduce a locally produced electric vehicle model in China by the 2025 fiscal year. The key feature is thorough “localization.” The company has adopted locally sourced batteries, motors, hydraulic components, and other parts to reduce prices to levels comparable to those of Chinese manufacturers. Until now, the company has sold vehicles developed in Japan but has struggled against low-priced local competitors. In China, battery prices have fallen rapidly due to the increased popularity of electric vehicles (EVs). Mitsubishi Logisnext has adopted a “when in Rome, do as the Romans do” strategy to counter this trend. Depending on sales performance, the company plans to expand into markets such as Southeast Asia.
The May 2025 issue of the Alternative Power Report contains articles on Volvo’s launch of the world’s first electric articulated Hauler, Aeson Power’s new sodium battery products, the IMO votes on the first-ever global carbon price on shipping, and a report on CATL’s next generation batteries. Read it all here. PSR
Guy Youngs is Forecast and Technology Adoption Lead at Power Systems Research
The rising demand for zero-emission mobility goes beyond the nice idea of preventing a catastrophic climate crisis. EVs are a better fit for the connected, electrified lifestyle of the 21st century; they offer more opportunities for convenience, they are more useful for weathering power outages and climate-connected emergencies, and they are more adaptable to the needs of fleet managers, among other advantages.
However, while some researchers note that “salt batteries” are not quite ready for prime time, other stakeholders — including industry leader CATL — are already laying plans for mass production. Last month, CATL also burned up the Internet when it announced a suite of two sodium-ion batteries ready for full volume production by the end of this year.
