2024-01-22
Deutz AG To Sell Torqeedo Shares To Yamaha Deutz AG signed an agreement Jan. 19, 2024, to sell its shares in Torqeedo to Yamaha Motor Co Ltd. The sale of Torqeedo’s shares were planned and announced at the Deutz Annual General Meeting held in April 2023.
Torqeedo is a market leader in developing and manufacturing advanced marine electric engines and propulsion systems.
BYD is negotiating to acquire Sigma Lithium, the largest lithium mining entity in Brazil, according to the Financial Times. The potential agreement could be valued at US$ 5 billion (R$ 14.3 billion). Sigma Lithium operates a lithium mining facility in the Jequitinhonha Valley in the state of Minas Gerais. The strategic intent behind this acquisition by the Chinese manufacturer is to secure a stable supply of raw materials essential for the production of batteries to power its electric vehicles.
BYD has expanded its presence in Brazil through the acquisition of the Ford plant in Camaçari (BA). This facility is earmarked for the production of light vehicles. Additionally, BYD operates a manufacturing plant in Campinas (SP), specializing in the production of bus chassis and plug-in hybrid electric vehicle (PhEV) panels.
Source: Financial Times Read The Article
PSR Analysis. After Tesla demonstrated interest in the same company, BYD advances its negotiations. It is in line with BYD’s strategy of verticalization and helps to solve one of the strategic bottlenecks of EV production, minerals availability and price. PSR
Fabio Ferraresi is Director Business Development South America for Power Systems Research
2023-06-19
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.
2023-03-26
The agreement covers the acquisition of land and buildings and certain machinery and manufacturing equipment at the General Motors India, Talegaon plant. The proposed acquisition is subject to the signing of a definitive asset purchase agreement, other certain conditions and receipt of approvals from government authorities and stakeholders.
Source: Economic Times Read The Article
PSR Analysis. Hyundai is expected to expand its annual production capacity in India to some 900,000 units–760,000 units in its two existing plants and 130,000 units in the GM plant. Combined with production volume of its smaller Kia’s two plants in India, the total production capacity of Hyundai Motor Group could surpass 1 million units per year.
Fras-le announced plans to acquire the operations of AML Juratek, the parent company of Juratek and BettaParts, which operate in the UK and European aftermarket, with lines of braking products such as discs, brake pads, calipers and actuators. Fras-le said it intends to invest about US$ 22 million (£ 18.2 million) in the acquisition.
Fras-le will continue to work in the European market with the Juratek and BettaParts brands and will receive the reinforcement of the other iconic brands of the company in the global market, such as Fras-le and Fremax, expanding business possibilities. In 2022, AML Juratek recorded revenues of approximately £25 million.
The acquisition is added to Fras-le’s global structure of operations, currently present with industrial units in Brazil, the United States, China, Argentina, Uruguay and India, as well as distribution, technology and development centers and commercial representations to serve customers in more than 120 countries on five continents.
2022-12-14
Ballard Power Systems has announced the sale of 25 hydrogen fuel cell engines to repeat customer Solaris Bus & Coach, a leading European bus manufacturer.
The 70kW fuel cells will be installed in Solaris’ Urbino 12 hydrogen buses for deployment to Polish public transport operator MPK Poznań and are expected to be delivered in H2 2023.
The buses are to be partially funded by the National Fund for Environmental Protection and Water Management’s Green Public Transport program. MPK Poznań requires 30% of its fleet to be zero-emission by 2028. These 25 hydrogen fuel cell buses will increase its zero-emission fleet from 18% to 25%.
Source: Ballard Read The Article
2022 has been an interesting year on many commercial vehicle fronts including the medium and light electric commercial truck and van segment. While large established OEMs such as Ford, who is expected to produce approximately 6,500 E-Transits at the Kansas City plant in 2022, there has been some shakeup within the electric commercial vehicle start-ups.
During the past six months, Mullen Automotive, based in Brea, CA, has acquired the assets of the now bankrupt Electric Last Mile (ELMS) company and has acquired 60% of Bollinger Motors, which has yet to start vehicle production.
In September 2022, Mullen Automotive invested $148 million into Bollinger Motors, giving Mullen a 60% share of the company. Bollinger plans on introducing their electric class 3 – 6 lineup of cargo vehicles starting in 2023 and it is likely that Bollinger will also manufacture the Mullen electric light commercial vans also starting production in 2023.
2022-11-17
Randon, an Brazil-based OEM, has agreed to invest $40 million to acquire the US-based trailer manufacturer Hercules. Randon’s purchase agreement for Hercules is expected to be finalized within 120 days. Randon Implementos is the largest semi-trailer manufacturer in Latin America. The company maintains a manufacturing park in Argentina and works with partners to assemble semi-trailers at several points in Central America and Africa. It is the main Brazilian exporter in the segment, with a historical market share of 60% in exports.
2022-04-22
Yanmar Holdings Co. Ltd. announced it has acquired a majority share in ELEO Technologies B.V., a battery technology company based in Helmond, the Netherlands. By integrating ELEO’s advanced, scalable, and modular battery technology, Yanmar said it will further its electrified powertrain capabilities with customized solutions for off-road applications.
After joining the Yanmar Group as part of Yanmar Power Technology Co., Ltd., ELEO will continue to operate as a stand-alone entity under its own brand at its current location in Helmond, the Netherlands.
Founded in 2017, ELEO Technologies develops and produces advanced modular battery packs which are differentiated by their proprietary battery management system (BMS) and thermal management technologies. The company is near completion with a new advanced production facility that will increase its annual battery production capacity to 500 MWh, equivalent to approximately 10,000 battery packs.
The Transaction involving the Brazilian Tupy and the subsidiary of Traton Group is around US$ 186 Million and it is approximately four times the 2021 EBITDA of MWM, with revenue of US$ 580 million.
Source: Info Money Read The Article
PSR Analysis: Tupy has been demonstrating its willingness to invest in engine research and development for cleaner propulsion and alternative ICE propulsion with Hydrogen and other alternative Fuels. With the knowhow and facilities of MWM added to Tupy, the outlook is positive for growth in new technology and better product offerings for customers and ultimately higher volumes for the new Tupy–MWM company. PSR
By Fabio Ferraresi, Director Business Development South America, for Power Systems Research
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