Industry News | Power Systems Research

2026-02-22

Tesla Semi Lines Up for $165M in California Incentives

The update was initially reported by The Los Angeles Times.

Tesla reportedly is positioned to receive roughly $165 million in California clean-truck incentives for its Semi.

As per the Times, the Tesla Semi’s funding will come from California’s Hybrid and Zero-Emission Truck and Bus Incentive Project (HVIP), which was designed to accelerate the adoption of cleaner medium- and heavy-duty vehicles. Since its launch in 2009, the HVIP has distributed more than $1.6 billion to support zero-emission trucks and buses across the state.

Categories: Commercial Vehicles, Legislation, North America

Office: United States Offices

2026-02-21

Boot 2026 Shows Strong Shift To Outboard Power

Natasa Mulahalilovic

See Complete Show Report Here

Boot Düsseldorf 2026 welcomed more than 200,000 visitors over nine days (Jan. 17-25) and hosted about 1,500 exhibitors from 120 countries. The show was about the same size as that of the 2025 event, but last year’s show drew exhibitors from only about 67 countries.

Boot once again confirmed its position as the world’s leading indoor boat show. The event covered the entire spectrum of the marine industry, including motorboats, yachts and superyachts, catamarans, sailing boats, outboard and electric boats, engines, power generation systems, equipment and components, as well as touristic services, charter companies, and boating clubs.

Categories: Boot, Europe, Marine, Production, Sales

Office: Europe Office

2026 Superyacht Market Features Steady Growth

Natasa Mulahalilovic

The superyacht industry enters 2026 in a phase of measured growth, supported by strong fundamentals. After several years of rapid expansion, the market is stabilizing and becoming more strategic, rather than slowing down. The global superyacht market reached approximately USD 21.6 billion in 2025 and is projected to grow to USD 45.16 billion by 2032, reflecting sustained long-term confidence in the sector. Today, more than 5,000 superyachts over 24 meters are in operation worldwide.

In 2025, 470 superyachts were sold globally, marking a 19.8% increase compared to 2024. Around 250–300 newly built yachts were delivered, including 10 yachts over 100 meters, a record year. Approximately 45% of market demand comes from charter activity, highlighting the importance of commercial readiness and high-quality guest experiences.

Categories: Europe, Marine, Sales

Office: Europe Office

Brazil Suspends 2026 School Bus Procurement

Fabio Ferraresi

The Federal National Education Development Fund (FNDE), part of Brazil’s Ministry of Education, has revoked the public tender for the purchase of approximately 7,500 school buses under the Programa Caminho da Escola scheduled for 2026. The cancellation was formally published in early February 2026 to align the procurement with a new law on tax exemptions, which altered fiscal conditions for vehicles eligible in the program.

Categories: Commercial Vehicles, Legislation, South America/Brazil

Office: Brazil Office

Brazil 2026 Truck Sales Drop Sharply in January

Fabio Ferraresi

Brazil’s truck market started 2026 in significant decline. A total of 6,379 units were registered in January, representing a drop of approximately 30% compared to January 2025 (9,131 units) and a 34% decrease versus December 2025 (9,765 units), according to data from Fenabrave (National Federation of Motor Vehicle Distribution).

Market leadership in the month was shared by Volkswagen Caminhões e Ônibus and Mercedes-Benz, each holding around 27% market share. They were followed by Volvo, Scania, Iveco, DAF and Foton.

Categories: Central/South America, Commercial Vehicles, Sales

Office: Brazil Office

2025-Year Motorcycle Sales Rank 2nd in SE Asia

Akihiro Komuro

In 2025, the Vietnamese motorcycle market experienced strong growth, with sales increasing by 14.9% year-on-year to approximately 3.4 million units. This made it the second-largest market in Southeast Asia, after Indonesia. Indonesia maintained its top position as the region’s largest market with 6.55 million units sold, though its growth rate was limited to 0.6%. Meanwhile, the Philippines recorded 2.37 million units (+2.8% year-over-year), Thailand recorded 1.73 million units (+9.8% year-over-year), and Malaysia recorded 613,893 units (+3.5% year-over-year).

In Vietnam, the rapid expansion of electric motorcycles is reshaping the market structure. Alongside domestic companies, Chinese firms are accelerating investment in electric motorcycles, aided by stricter environmental regulations. Hanoi’s plan to restrict internal combustion engine vehicles starting in mid-2026 is further accelerating the shift towards electric vehicles.

Categories: Recreational Products, Sales, Vietnam

Office: Japan Office

2026-01-25

Tesla’s 2025 Europe Data Shows Total Bloodbath

Guy Youngs

The data is in for Tesla’s full year 2025 in Europe, and frankly, it’s a bloodbath across most major markets. Every market in Europe showed a substantial decline (ranging from -4.1% to -66.9%). There’s a single exception, Norway, and Tesla can’t even count on this market in 2026 because the growth in Norway was caused by changing regulations for 2026, that brought forward car purchases into the last two month of 2025.

According to registration data compiled from major European markets, Tesla saw its total volume drop from roughly 326,000 units in 2024 to just over 235,000 in 2025. That is a staggering 27.8% year-over-year decline

The truth is that this is an impressive demand cliff by any standard that points to significant brand problems, which are due to a mix of Elon Musk, Tesla’s CEO, becoming highly toxic, and Tesla’s EV lineup becoming stale amid tougher competition.

Categories: Alternative Power, Europe, Passenger Cars, Minivans, and SUVs, Sales

Office: United States Offices

Government Program To Help Truck Industry

Fabio Ferraresi

In January 2026, the Brazilian federal government launched the Move Brazil Program, a credit support initiative totaling approximately USD 2.0 billion. The program aims to support the domestic truck manufacturing industry and stimulate fleet renewal amid a sharp downturn in heavy-duty vehicle demand.

Financing will be provided through BNDES with annual interest rates between 13% and 14%, grace periods of up to six months, and repayment terms of up to five years, capped at approximately USD 10 million per beneficiary. Eligible beneficiaries include independent truck drivers, cooperatives, transport companies, and large fleet operators, with 10% of total funding reserved for independents and cooperatives.

Financing is restricted to new trucks manufactured in Brazil and compliant with Proconve P8 emission standards, as well as used trucks (model year 2012 onward) meeting Proconve P7 requirements and local content criteria. The program will be available for six months and is positioned as a short-term measure to mitigate layoffs and production cuts in the heavy truck segment.

Categories: Central/South America, Commercial Vehicles, Financial, Legislation, South America/Brazil

Office: Brazil Office

2026 Brazilian Vehicle Market Projected To Grow 3%

Fabio Ferraresi

Brazil’s vehicle distribution association Fenabrave projects that the total new vehicle market in 2026 will grow by approximately 3%, reaching around 2.7–2.8 million units in total sales across all segments compared with 2025 performance. This projection includes ~3% increases in passenger cars and light commercial vehicles, roughly 2.6–2.7 million units, and ~3.5% growth in truck registrations. Sales of buses are also forecast to rise ~3%.

The outlook is supported by expectations of improved credit availability, federal support programs such as Carro Sustentável and Move Brazil, and a strong commodities export environment, which bolsters freight demand. The heavy truck segment, which faced a steep decline in 2025, is expected to contribute to overall market expansion. Fenabrave’s forecast assumes modest macroeconomic improvement and continued easing of credit conditions.

Categories: Central/South America, Commercial Vehicles, Off-Highway Equipment, Passenger Cars, Minivans, and SUVs, Sales, South America/Brazil

Office: Brazil Office

Canada Cuts Tariff on Chinese EVs 100%

Jack Hao

Canada has agreed to allow a maximum of 49,000 Chinese-made electric vehicles to enter the Canadian market annually at a most-favored-nation tariff rate of 6.1%.

This policy marks Canada’s termination of the 100% additional tariff measure on Chinese electric vehicles that had been in effect since October 2024, shifting instead to a tariff-rate quota system. Carney stated that this move aims to restore normalized levels prior to trade friction, with the relevant volume accounting for less than 3% of Canada’s new vehicle market sales.

High tariffs had caused electric vehicle prices to soar and limited options in the Canadian market. According to Statistics Canada data, new registrations of zero-emission vehicles declined significantly in the third quarter of 2025. This tariff adjustment is expected to bring more affordably priced electric vehicle models to Canadian consumers. It is projected that within five years, over 50% of Chinese electric vehicles imported to Canada will be priced below CAD 35,000 ($25,300 USD), offering consumers low-cost alternatives. Meanwhile, Canada expects that within three years, the agreement will drive Chinese enterprises to establish joint ventures in Canada, promote the development of the domestic electric vehicle supply chain, and create employment opportunities for Canada’s automotive manufacturing industry.

Categories: Greater China, Passenger Cars, Minivans, and SUVs, Tariff

Office: China Office

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