Hino Motors and Mitsubishi Fuso To Merge

News: Industry Segments

2023-06-19

Hino Motors and Mitsubishi Fuso To Merge

FAR EAST: JAPAN REPORT

The announced reorganization of several commercial vehicles companies came suddenly and was one that few in the industry expected.

On May 30, Toyota Motor Corporation and Daimler Trucks of Germany announced a business merger between Toyota-owned Hino Motors and Daimler-owned Mitsubishi Fuso Truck and Bus Corporation. The merger is expected to be completed by the end of 2024.

The four companies have reached a basic agreement that calls for Toyota and Daimler to establish a holding company by the end of 2024 with the aim of going public. Hino Motors and Mitsubishi Fuso will become part of the holding company. Toyota and Daimler will hold the same percentage of shares in the holding company, and Hino Motors will cease to be a consolidated subsidiary of Toyota after the merger.

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XCMG To Produce EV Trucks in Brazil in Two years

Fabio Ferraresi
Fabio Ferraresi

XCMG announced plans to produce battery electric trucks in Brazil at Pouso Alegre (MG) plant in two years. Until then, the company expects to build a local network of suppliers and wait for new industrial policies that are expected for the electric vehicle segment.

The current plan consists of starting with the assembly of chassis and cabins at the Minas Gerais plant with components produced by local suppliers. Batteries and other components of the electric powertrain will be imported from China.

This first stage fits the company’s electric trucks within the scope of Finame, the BNDES credit line that finances the acquisition of machinery and equipment. To access this line, the product to be financed must have a certain percentage of parts and components produced in the country.

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Brazil Announces Incentives for MHV and LV

BRAZIL/SOUTH AMERICA REPORT  

The Brazilian Federal Government this month has announced a package of incentives for the automotive sector during a press conference held in Brasilia (DF). The program intends to bail out the country’s automakers at a time of weak demand for new vehicles.

The final text includes passenger cars, Minivans and SUVs, Trucks and Buses through discounts granted to the consumer, and not by tax reduction to automakers, as was expected.

Total spending of Federal Government is US$ 300 Million (R$ 1.5 Billion). Funds are expected to come from the return of taxes on diesel sales, which was planned to happen in January 2024, but it is anticipated to meet the program of the automotive sector.

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CARB Is Phasing Out Heavy Trucks

NORTH AMERICA REPORT
Chris Fisher
Chris Fisher

In April, the California Air Resources Board (CARB) voted unanimously to finalize its Advanced Clean Fleets rule that requires all new medium- and heavy-duty vehicles sold or registered in the state of California to be zero-emission by 2036. 

Among these requirements is a new 2036 target for an end to diesel truck sales. This was lowered from an early 2040 target, with the thought that 2040 would be too late to reach California Governor Gavin Newsom’s goal for 100% zero-emission medium- and heavy-duty vehicles by 2045. 

The 2036 target is only one year after the 2035 target for passenger cars.  Also in the rule, state and local agencies must purchase 50% ZEV by 2024, and 100% ZEV by 2027.

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Global Electric Scooter Market Could Reach $56B in 2033

GLOBAL REPORT
Michael Aistrup
Michael Aistrup

The global electric scooter market is growing at a rate that will enable it to surpass $56 billion by the end of 2033, according to a forecast by. Power Systems Research. The forecast predicts a projected growth rate of 9.72% by 2033.

This high growth rate is attributed to the rising demand for electric vehicles because of the increasing worldwide population.

An Electric Vehicle (EV) is a vehicle that runs on electricity/battery power. Electric vehicles have low running costs due to fewer moving parts and are environmentally friendly as they use little or no fossil fuels. Some EVs use lead-acid or nickel-metal hydride batteries, but lithium-ion batteries are now used in battery-powered electric vehicles for their long life, excellent energy storage, and low self-discharge rate.

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2023-05-24

Show Report: Hannover Messe 2023

Guy Youngs
Guy Youngs

General Observations. The core topics at HANNOVER MESSE included artificial intelligence, hydrogen, energy management, connected and intelligent production, and the new Manufacturing-X data ecosystem.

More than 4,000 exhibitors presented their solutions and welcomed 130,000 visitors from around the globe. There seemed to be a very large Chinese contingent at the show (both as visitors and exhibitors), as well as a large number of local governments, universities and startups. There seemed to be a predominance of exhibitors showing bearings, copper fittings, cables and components as well as systems / electronics companies.

There was also a large number of independent robots in evidence, ranging from robotic dogs and robotic servers to robotic messengers following pre planned routes.

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Show Report: Automec 2023

The Power Systems Research team in Brazil attended Automec 2023 this month, the show dedicated to the On Highway aftermarket. It’s the show that features main components manufacturers selling in Aftermarket.

This year’s edition took place April 25-29 at São Paulo Expo where more than 1500 brands were shown by 450 international exhibitors from 12 countries, in seven international pavilions.

More than 90,000 attendees visited the show(20% above last edition), with 30% of returning rate, coming from all regions of Brazil and 60 countries. The estimated volume of business is US$ 6 Billion (R$ 29,5 Billion).

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Show Report: Agrishow 2023

SHOW REPORT  
Fabio Ferraresi
Fabio Ferraresi

Our Power Systems Research South America Team visited the Agrishow 2023, in Ribeirão Preto-SP, Brazil, visiting customers and checking the new launches and market expectations. It’s the world’s largest show on Agricultural Equipment       

The general expectations of exhibitors we talked with were not positive. Exhibitors carefully spoke about some factors influencing the market, such as lower commodities prices and the new government often speaking against Agribusiness that does not promote positive investment decisions.

On the other hand, the projections of business during the show surpass US$ 2,6 Billion (R$ 13,2 Billion), that is 18% nominal growth over 2022 business and actual growth of 9.5% discounting inflation. The expectation is for a recovery in commodities prices in 2H 2023. The government is also announcing more credit for this segment and OEMs are offering their own credit lines.

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DATAPOINT: NA Lawn Mower 2023 Production

NA Lawn Mowers – May 2023Download

3.4 million units is the estimate by Power Systems Research of the number of lawn mowers to be produced in North America in 2023. This includes 249,000 electric units.

Lawn mowers are produced in many designs and power sources and are designed to cut grass in lawns and public areas such as parks and golf courses. Robotic Mowers autonomously mow an area. Walk Behind Reel Mowers use blades set on a revolving cylinder or reel to cut grass. These mowers are powered either through human effort or engine power; when the reel mower is moved forward the reel moves, cutting the grass.

Carol Turner is Senior Analyst, Global Operations, for Power Systems Research

2023-05-21

China’s Changan Auto To Build EV Plant in Thailand

SOUTHEAST ASIA: THAI REPORT

Changan Automobile Group, a major Chinese automobile manufacturer, will establish a new plant for electric vehicles such as EVs in Thailand, according to the Board of Investment of Thailand (BOI). The investment will be US$ 284 million (9.8 billion baht or about 38 billion yen), and construction is expected to be completed within a few years. The initial production capacity will be 100,000 vehicles a year, and on-board batteries will also be manufactured. The Thai government has established an incentive program to encourage local production of EVs, and Chinese EV giants have been actively investing in the country.

In addition to EVs, the new plant will produce electric vehicles such as HVs and PHVs. The company plans to supply vehicles to Southeast Asian countries, Australia, South Africa, and other markets.

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