Cummins Jumps On New Energy Storage Iron Salt Formula

News: Industry Segments

2022-09-29

Cummins Jumps On New Energy Storage Iron Salt Formula

Cummins $24 million stake in the startup VoltStorage gives them a foot in the door with new iron redox flow technology. There is nothing wrong with lithium-ion energy storage but global demand for energy storage has nowhere to go but up, and so are lithium prices. While lithium is relatively abundant in the ground, but current supply is falling behind demand. At the same time, lithium extraction is messy and has significant environmental impact, causing local opposition to new mines and other facilities which could stall development. Aside from accessing a recyclable supply chain that can avoid conflict issues, flow battery fans note a long list of advantages over lithium-ion technology including lower cost, longer duration, and ease of scalability

Source: CleanTechnica Read The Article

PSR Analysis: Cummins has been making investments into EVs (such as the purchase of Brammo in 2017 and Meritor in 2022) for some time and this low cost, long duration, grid scale energy storage battery is part of their plan. This diversifies their portfolio of alternative power systems and helps them in the gid scale storage market. One of the major advantages for flow batteries is that they aren’t lithium-based and are therefore not subject to the same massive and sustained price increases that lithium material is seeing. PSR

Guy Youngs is Forecast & Adoption Lead Analyst at Power Systems Research

EV Shipping Set To Blow IC Engines Out of the Water

ALTERNATIVE POWER REPORT

Researchers from the University of California, Berkeley, and Lawrence Berkeley National Laboratory have released a study which examines “the technical outlook, economic feasibility, and environmental impact of battery-electric containerships.” By modelling 5 to 10 GWh electrified containerships, they found that 40% of routes today could be electrified in an economically viable manner, before considering environmental costs.

Using only technology available for purchase today, nearly all ships with routes shorter than 2,000 kilometres are economically advantageous, and ships with routes as long as 3,000km are economically viable.

Source: PV Magazine Read The Article

PSR Analysis: Ships transport more than 10 billion metric tons of cargo each year, including clothing, electronics, and oil, and almost all of these ships run on fossil fuels, so they emit a lot of carbon pollution. Maritime shipping causes about 3% of global greenhouse gas emissions. As the costs of large ICE containerships continue to rise electrified containerships become increasingly cost effective. Electrified containerships are 80% more efficient than their ICE counterparts, and use 30% less energy overall.    PSR

Guy Youngs is Forecast & Adoption Lead Analyst at Power Systems Research

2022-09-28

Festive Demand Expected To Boost Auto Industry

INDIA REPORT 
Aditya Kondejkar

Adequate rainfall across the country along with the start of the long festive season will keep the demand for automobiles positive and help keep the momentum going in this segment. Additionally, normal monsoons in most parts of the country resulting in a decent agricultural harvest kept demand positive. So, automakers are focusing on building up inventory in anticipation of higher demand

The Indian economy is poised to shrug off the modest tapering of growth in Q1 2022, and aggregate demand is firm and set to expand as the festival season sets in. Hatchback cars and affordable, non-electric motorcycles and scooters are set to register bumper sales in the coming months as India gets ready to celebrate its first ‘normal’ festive season after a gap of two years. Above-normal rains, positive consumer sentiment and a generally optimistic mood are also expected to boost sales of these entry-level vehicles.

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Vinfast To Export Initial 5,000 EVs To Europe and the U.S.

SOUTHEAST ASIA: VIETNAM REPORT

Vinfast has announced plans to export approximately 5,000 EVs to the U.S., Canada, and Europe by the end of 2022. This is the first time for them to export EVs. The company also plans to start construction of a new EV plant in the U.S. by the end of this year, accelerating its global strategy.

According to the plan, exports to the U.S. and other countries will begin in early November, with delivery to customers starting in December. Vinfast’s CEO revealed that the company has orders for approximately 65,000 EVs worldwide.

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South Korea Sees First Trade Deficit with China in 28 Years

FAR EAST: SOUTH KOREA REPORT
Akihiro Komuro
Akihiro Komuro

The economic relationship between China and the ROK has reached a turning point. According to statistics from the ROK, for the first time in 28 years, the ROK has a trade deficit with China. China has been the best customer of the export driven ROK economy, and this is causing concern in the ROK. At the same time, Chinese companies are intensifying their takeover of Korean companies, and in response to the escalation of the U.S.-China conflict, they have begun to pursue a strategy of using Korea as a foothold to capture the U.S. market.

A management official at South Korea’s Hyundai Motor’s joint venture plant in Chongqing, China, said that the passenger car assembly plant is idle and that negotiations are underway to sell it to a Chinese company. Hyundai Motor started operations in Chongqing in 2017, including an assembly plant with an annual production capacity of 300,000 units, but sales slumped due to the rise of Chinese automakers. At one point, the company occupied second place with a market share of nearly 10%, but recently it has fallen below 2% and slumped to 10th place.

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Honda To Discontinue Two-Wheeled Gasoline Vehicles

FAR EAST: JAPAN REPORT

On Sept. 13, 2022, Honda announced it will eliminate gasoline-powered motorcycles by the mid-2040s. All new vehicles will be EV motorcycles; 3.5 million, or 15% of global sales, are to be EV motorcycles by 2030. Honda has already declared that all its four-wheeled vehicles will be EVs by 2040, but this is the first time the company has laid out a concrete strategy for decarbonization on two wheels.

From now on, Honda will pursue electrification exclusively with EVs. First, it will launch at least 10 EV motorcycle models by 2025. Since investment in new vehicle development and production facilities will be a heavy burden, Honda will use a common platform for batteries, motors, and other components for three large motorcycle models to be launched in Japan, the United States, and Europe between 2024 and 2025.

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Special Report: M&T Expo

BRAZIL/SOUTH AMERICA REPORT  
Carlos Briganti
Carlos Briganti

TheM&T Expo 2022 is one of the most important trade fairs in the construction and mining equipment industry throughout Latin America and this year the show featured more than 600 exhibiting brands in 54,000 square meters. Held in Sao Paulo Aug. 30-Sept. 2, 2022, the event had more than 30,000 visits in four days. 

Disagreements between show organizers and exhibitors caused key players in the market to avoid the show. The list of missing exhibitors included Caterpillar, John Deere, Komatsu, JCB, CNH, and Volvo. Chinese companies, as well as Liebherr, took this opportunity to use large spaces at the event, both in area and in product portfolio with respective sales and engineering teams.

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Report from Cannes Yachting Festival 2022

EUROPE REPORT
Natasa Mulahalilovic
Natasa Mulahalilovic

The Cannes Yachting Festival is one of the largest in-water shows in the world, and this year it celebrated its 45th birthday. Founded in 1977, the show normally takes place every September. However, it missed out in 2020 because of Covid-19 restrictions, but it was back in 2021, posting the best performance results ever.

This year, the show was held Sept 6-11, and featured a fleet of about 700 boats, ranging in length from 3 to 50 meters. It included motor and sailing vessels, monohulls and multihulls, inboards, sterndrives and outboards, diesel, petrol, waterjet, hybrid and electric, tenders, RIBs and others displayed in the two main city ports of Le Vieux Port and Port Pierre Canto. This year, more than 56,000 visitors attended the show.

The new Polish Sunreef 80 Eco was the star of the festival. The all-electric, fully autonomous luxury catamaran of 23.87 m in length, 164 m2 covered with solar panels, is a unique boat in the industry. This luxury catamaran is equipped with ultra-light batteries with a density of 5.2 kg/kWh. The innovative system is entirely created and produced by the company itself offering the best efficiency in the marine world.

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DATAPOINT: NA Crawlers, 2022 Production: 4,100 Units

Crawlers come in one of three versions: Dozers, Loaders, and Excavators. Crawler Dozers are heavy, driver-operated machines used for clearing and grading land. Usually, they have continuous treads and a broad hydraulic blade in front.

A Crawler Loader is a piece of mobile construction equipment used to load materials; it’s used primarily in tough, off-road terrain. It’s similar to a wheel loader, except it has treads instead of wheels.

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Outdoor Power Equipment To Grow 5.3%

Michael Aistrup

Power Systems Research (PSR) projects the global outdoor power equipment market to grow from $34.01 billion in 2021 to $48.91 billion by 2028, a CAGR of 5.34% over the forecast period. The outdoor power equipment market includes consumer and commercial lawn mowers, chain saws, leaf blowers, and other motorized equipment used in the upkeep of lawn and gardens.

Global trends.North America is expected to dominate the market because of the growth of commercial and residential lawns and parks. The market in North America stood at $13.7 billion in 2021 and is expected to gain a huge portion of the global market share.

In Europe, continued automation in the lawn mower segment will increase demand for automated residential lawn mowers.

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