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.
2023-09-16
The consolidated financial results for the April-June period of the three major Korean battery companies show significant sales growth. LG Energy Solution’s sales grew 73% y/y and operating profit was 2.4x y/y. SK On’s sales grew 2.9x y/y due to the expansion of EV production. Samsung SDI’s sales grew 23% y/y.
LG Energy, the world’s second largest automotive battery maker, posted a 73% y/y increase in sales to KRW 8.774 trillion (approximately $6.6 billion) and a 2.4x y/y increase in operating profit to KRW 461 billion (approximately $340 million), while its joint production with GM of the U.S., which will begin operations in 2022, also contributed to the continued growth in sales and profit.
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