Colombia Resumes Taxing Vehicles from Brazil

News: Financial

2024-09-23

Colombia Resumes Taxing Vehicles from Brazil

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BRAZIL/SOUTH AMERICA REPORT 

Starting in 2025, vehicle exports from Brazil to Colombia will once again be taxed at a 54% rate. The tax exemption agreement, in place since 2017, will not be renewed. According to the Colombian government, this decision is designed to protect its local automotive industry, currently dominated by Renault. This is a setback for Brazilian manufacturers, who exported fewer vehicles in 2024, with a 30% drop compared to the previous year.

Source: Automotive Business     Read The Article

PSR Analysis: This means an important reduction of exports from Brazil, affecting some OEM exports severely; for others, there will be no impact. These production impacts are already deployed in the forecast in OE Link database.

Fabio Ferraresi is Director, Business Development-South America, for Power Systems Research

2024-08-27

BYD Plans Factory in Turkey To Produce 150,000 Vehicles

CHINA REPORT
Jack Hao
Jack Hao


BYD has signed an agreement with the Turkish government to invest USD 1 Billion to build a factory in Turkey. This is BYD’s second factory in Europe following one built in Hungary. Under the agreement, BYD will build a factory and research and development center with an annual production of 150,000 vehicles. The factory is planned to start production by the end of 2026 and will provide job opportunities for up to 5,000 workers. The factory is expected to improve BYD’s logistics efficiency.

The Turkish government is welcoming the factory construction of Chinese automotive enterprises and is holding discussions regarding factory construction are taking place with SAIC and Great Wall, as well as BYD and Chery. Previously, Turkey announced the cancellation of a plan to impose an additional 40% tariff on all vehicles from China, which was announced a month earlier, to encourage Chinese automotive enterprises to invest in Turkey.

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2024-07-15

Canada Considers Tariffs on Chinese EVs Similar To US and EU Moves

ALTERNATIVE POWER REPORT
Guy Youngs
Guy Youngs

The Canadian government is preparing tariffs on Chinese-made EVs to align with the US and European Union, which have already proposed heavy duties to deter “unfair” competition imported from overseas

The country holds strong ties with the US and EU and looks to align with its trade partners in solidarity while blocking a potential loophole China could use to enter North America.

Source: Electrek: Read The Article

PSR Analysis:  Canada is still in the early stages of these tariffs, with discussion ongoing. Prime Minister Trudeau has not publicly committed Canada to imposing tariffs on Chinese EVs, stating the cabinet is monitoring the situation closely.   PSR

Guy Youngs is Forecast & Adoption Lead at Power Systems Research

2024-07-14

Alternative Power Report, July 2024

PSR Alternative Power Report – July 2024Download

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 Invests To Double Its Size in Latin America

BRAZIL/SOUTH AMERICA REPORT 
Fabio Ferraresi
Fabio Ferraresi

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.

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2024-05-27

Europe Investigates Chinese EV Subsidies

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.

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2024-04-17

A New Path for Van Hool

EUROPE REPORT 
Emiliano Marzoli
Emiliano Marzoli

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. 

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