Akio Toyoda, Toyota’s chairman, has expressed skepticism about the widespread adoption of electric vehicles (EVs), estimating they will achieve only a 30% market share despite evidence of higher adoption rates in countries like Norway and China. This stance aligns with Toyota’s continued focus on hybrids and fuel cell vehicles, contrasting with the rapid EV market growth and the aggressive EV strategies of competitors. Toyoda’s comments reflect a cautious approach to EV adoption, diverging from industry trends favoring more substantial EV penetration.
Hyundai Motor Company is developing a hybrid vehicle for its Genesis luxury brand. The company had planned to focus on EVs and FCVs for the Genesis, which will be launched after 2025. The recent slowdown in the growth of the EV market has forced the company to change its strategy.
According to industry insiders, Hyundai Motor is developing a hybrid engine and related systems for the Genesis, which is expected to be launched in 2025. Hybrid models will be added to the mainstream GV80 and GV70 models. The company plans to expand its HV lineup under the Hyundai Motor and Kia brands as well, having decided to introduce HVs under its luxury car brands due to the risk of slumping sales if it continues to shift more toward EVs. Hyundai Motor’s HV sales in 2023 were up 53% from the previous year to approximately 380,000 units.
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.
Argonne National Laboratory’s cradle-to-grave analysis considers everything from raw material extraction to vehicle scrappage to provide a holistic view of the sustainability of different vehicle and fuel technologies.
The analysis showed that EVs (which have no tailpipe emissions) also have fewer greenhouse gas emissions than conventional gasoline or hybrid electric vehicles when the entire life cycle is considered.
Read about the 240 ton electric mining truck that can charge in 30 minutes in the February 2023 issue of Alternative Power Report produced by PSR’s Guy Youngs. The same issue contains articles about Volvo’s electric concrete mixer truck and its wheel loader. Europe’s charging corridor will make driving easier for MHVs. PSR
Plug-in hybrids pollute up to three times more than advertised, even when fully charged, and emit five to seven times as much CO2 when the engine is running, according to a new study commissioned by Belgian NGO Transport & Environment (T&E) and conducted by the University of Technology in Graz, Austria
The study measured emissions from three popular models: the BMW 3 series, Peugeot 308, and Renault Megane. Like many plug-in hybrids, these cars started as gas/diesel-powered models and then a battery was added on to improve emissions testing performance and mileage
Toyota has launched the Corolla Altis, India’s first flex-fuel engine. This car will be able to run on petrol or ethanol as well as electric power. It is part of a pilot project developing Flexi-Fuel Strong Hybrid Electric Vehicles in India.
Because of the great diversity in India’s consumer population, especially its per-capita income disparity, and multiple applications of vehicles, India might not use one technology but might use a combination of technologies involving various fuel types.
The Indian market can’t simply shift from petrol/ diesel engines to EVs over the next few years. Hence, many OEMs are working on CNG/ hydrogen/ hybrid vehicles. Toyota has launched this new vehicle for the Indian market as part of these efforts.
Komatsu began introducing hybrid construction equipment in Indonesia this spring. Equipped with an engine and electric motor as the power source, these machines can improve fuel efficiency by 20-30%, compared to conventional machines.
Chinese manufacturers are pushing low-priced construction equipment, and are now rivaling Komatsu, which has a stronghold in Indonesia, in terms of market share. With fuel prices rising sharply, emerging countries are also becoming more environmentally conscious. Komatsu is fending off Chinese competition with its highly fuel-efficient construction equipment and is tapping into demand for decarbonization.
In Indonesia, the largest construction equipment market in Southeast Asia, Komatsu has launched a hybrid hydraulic excavator. Equipped with a hybrid system developed in-house, the excavator’s swing unit is electrically powered. When turning the body, including the arm and driver’s seat, from side to side, the energy generated during deceleration is used to generate electricity, which is stored for future use. The company plans to market the system to nickel mine developers and others, where demand for EV batteries is growing.
The Battery Show Europe and the Electric & Hybrid Vehicle Technology Expo Europe is scheduled to be held June 28-30 at the Messe Stuttgart in Stuttgart, Germany. More than 6,000 attendees are expected to tour the show and visit the more than 540 exhibiting suppliers.
Power Systems Research (PSR) will have a team of analysts at the show collecting data and developing insights on alternative power sources. The team includes
Emiliano Marzoli, PSR manager of European Operations
Dalibor Sablic, PSR senior business development manager-Europe
Guy Youngs, PSR Forecast and Technology Adoption Lead
The show is one of the largest in Europe and features manufacturers, suppliers, engineers, thought leaders and decision-makers and is focused on the latest developments in the advanced battery and automotive industries.
The program called Low Carbon FINAME is dedicated to the acquisition of new machines that contribute to carbon emission reduction, with a focus on EV Buses, EV Trucks and Off-Highway Machines electric and Hybrid. OEMs have to register their products before December 2024 to access lower interest rates.
PSR Analysis: The incentives for funding are an important driver to make an EV competitive when compared to an ICE in Brazil, a country with high interest rates and high cost of capital. Historically, lower interest rates caused high sales and bubbles in key segments as CE and MHV. We are closely monitoring the funding conditions and the impact it will bring to key market segments. PSR
Fabio Ferraresi is Director, Business Development-South America, for Power Systems
