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.
Daimler recently launched a class 4-5 medium-duty electric truck brand, RIZON, and Electrek got a chance to kick the tires and drive one around. They were impressed at how well it drives (for an 18k GVWR vehicle) and how comfortable it feels like it would be on long shifts.
Rizon is a new brand from Daimler Trucks focusing entirely on zero-emissions in the class 4-5 space. Trucks of this size don’t require commercial driver’s licenses, and you’re more likely to see them around your neighborhood, doing local delivery tasks, equipment rentals, moving businesses, and the like. So, it’s nice to have clean, quiet operation instead of noisy and stinky diesel vehicles.
Indonesian ridesharing giant Gojek plans to convert all its motorcycles to EVs by 2030. The adoption of EV motorcycles is now in full swing in Indonesia, the largest motorcycle market in Southeast Asia with annual sales of more than 5 million units.
Gojek, the country’s leading ridesharing and delivery company, is said to have over 2 million registered riders, including both motorcycles and cars. The full conversion to EV bikes is expected to contribute significantly to the Indonesian government’s goal of 9 million EV bikes by 2030.
The Ministry of Economy, Trade and Industry (METI) has released draft guidelines for the installation of EV chargers, with a target of 300,000 units by 2030. This is double the previous target of 150,000 units and 10X higher than the current number of installations. The company is calling for the installation of chargers in commercial facilities.
The draft guidelines also call on operators to improve the speed of charging and the convenience of operation. To achieve decarbonization, the government is pushing to expand the installation of rechargers, which had only about 30,000 units as of March 2023.
The installation target includes 270,000 regular chargers at commercial facilities and 30,000 fast chargers on highways. The introduction of a new charging method called “plug-and-charge” will also be encouraged. This is a system in which vehicles can be authenticated and charged simply by plugging them into the charger; it has been adopted by Tesla in the United States. The system eliminates the need to hold a membership card over the charger or use a smartphone app to authenticate personal information.
The pandemic bike boom boosted e-bike sales 145% from 2019 to 2020, more than double the rate of classic bikes, according to the market research firm NPD Group.
Research by Power Systems Research estimates the global e-bike market size at US$ 23.2B in 2022 and expects the market to reach US$ 78B by 2030, exhibiting a CAGR of 10.5%.
E-bikes are bicycles equipped with electrical motors for transforming electrical energy into mechanical energy to assist pedaling. They use rechargeable batteries that require minimum maintenance and provide power to the motor.
Gerdau, Vamos and Volkswagen Caminhões have formed a partnership to support the national fleet renewal program, aimed at removing from roads vehicles more than 20 years old.
The fleet renewal program provides for the purchase of low emission and more efficient vehicles by self-employed drivers and other operations. Under the plan, 140 acquired vehicles were sent to Gerdau’s headquarters in Araçariguama, which is responsible for their destruction and recycling.
At the same time, an extension for the incentives program of up to 1 Billion Reais, (US$ 200 M) was announced.
PSR Analysis: The total of resources and mechanisms to allow the access to the resources still are not sufficient for the program to impact the market significantly. However, the small inroads demonstrate the desire of Government and private entities to make changes and should impact the market going forward. More deployments and adjustments in the program should come in the medium term. We will keep monitoring and adjusting our short-medium term forecast as it progresses. PSR
Fabio Ferraresi is Director-Business Development South Americafor Power Systems Research
Under Maruti’s 3.0 Strategy, the company proposes to expand annual capacity by 2 million units within nine years, and it plans to feature 28 distinct models by 2031. The automaker aims to reach an annual production volume of more than 4 million vehicles by 2031. Of this total, approximately 15% (about 600,000 units) will be electric vehicles (EVs), and about 1 million will be hybrid units.
This represents a substantial 75% surge from the current production capacity of 2.25 million units.
Foreseeing a threefold increase in export volume to 750,000 units by FY31, Maruti intends to allocate 3.2 million units for the domestic market. The company envisions hybrids and EVs comprising approximately 40% of this portion, translating to over 1.2 million units.
Foxconn, Taiwan’s leading electronics contract manufacturer, has received regulatory approval for its plan to invest $246 million in two new projects in Quang Ninh Province in northern Vietnam. The projects, to be carried out by a subsidiary of Foxconn Singapore, will focus on the manufacturing and assembly of telecommunications equipment and electric vehicle components.
This will bring Foxconn’s total investment in Vietnam to approximately $3 billion. Of the new investment, $200 million will be invested in a factory to produce EV chargers and components, which is expected to begin production in January 2025 and employ an estimated 1,200 workers.
Read several articles about the development of new alternative power products in the August issue of Alternative Power Report. Articles cover topics from golf carts as second vehicles, discoveries by VW research team, a new EV fast charging program in Europe and more news about hydrogen power.
In recent years, there has been a noticeable shift towards environmentally friendly and energy-efficient outdoor power equipment in the global market. This shift is evident in both the consumer and the construction markets. Battery-powered tools have gained popularity because of their lower emissions, reduced noise levels, and convenience.
BYD announced the installation of an industrial complex in Camaçari, Bahia. The largest manufacturer of electric vehicles in the world, the Asian giant will invest, in five years, about US$ 600 Million (R $ 3 Billion) in the installation of three factories at the Bahia complex, generating about 5,000 direct and indirect jobs. In addition to passenger vehicles, electric bus and truck chassis will be made on site, as well as a battery split.
The company will take over Ford’s facilities. The deal, however, has not yet been officially announced. The Camaçari pole is the last factory that still belonged to the North American brand in Brazil. The automaker, which announced the end of its local production in 2021, has already sold its facilities in Taubaté (SP) and São Bernardo do Campo (SP).
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