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EU OKs Tariff Hike on Chinese EVs
Jack Hao The European Union has approved a tariff increase on Chinese electric vehicles, according to the report from Agence France-Presse. Politicians and industry representatives from several European countries had previously expressed opposition to the European Commission’s investigation, and China also condemned the EU’s move to impose additional tariffs on Chinese electric vehicles as a typical act of protectionism.
Several European diplomats told Agence France-Presse that despite strong opposition led by Germany, the EU still approved the imposition of high tariffs on Chinese electric vehicles. According to the report, 10 countries, including France and Italy, supported the imposition of a tariff of up to 35.3% on top of the existing 10% tariff. Five countries, including Germany and Hungary, voted against, and another 12 countries abstained.
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Q3 2024 Truck Production Index Falls 8.9%
Download PDFSt. Paul, MN (Oct. 13, 2024)— The Power Systems Research Truck Production Index (PSR-TPI) decreased from 123 to 112, or-8.9%, for the three-month period ending Sept. 30, 2024, from the Q2 2024. The year-over-year (Q3 2023 to Q3 2024) decrease for the PSR-TPI was, 114 to 112, or -1.8%.
The PSR-TPI measures truck production globally and across six regions: North America, China, Europe, South America, Japan & Korea and Emerging Markets.
This data comes from OE Link™, the proprietary database maintained by Power Systems Research.
All Regions. In 2024, Medium and heavy commercial vehicle production in Europe, South Asia, Japan/Korea and North America is expected to decline modestly while production in China and South America, is expected to improve over last year.
Global Index. Globally, medium and heavy commercial vehicle production is expected to decline by 1.4% this year over 2023. Moving into 2025, much of the focus on demand will be centered around slowing global economic conditions that will likely impact overall freight demand. PSR
Jim Downey is Vice President-Global Data Products
Chris Fisher is Senior Commercial Vehicle Analyst -
PowerTALK™, October 2024
Download PDFQ3 2024 Global truck production dropped, according to the Truck Production Index produced by Power Systems Research. Read about it in the October issue of PowerTALK News. Other articles deal with VW’s plans to cut back on employment; a new solid state battery developed in Europe; the forecast for 2024 crane production in North American and the future for electric tractors in India.
IN THIS ISSUE
ALTERNATIVE POWER REPORT
- VW Employment “Earthquake” Hits Germany
- Europeans Unveil Solid-state Battery with 1,070 Wh/L Energy Density
- Your EV May Fall Apart Before Its Battery Pack Does
- Hydrogen Fuel Technology May Be Falling Behind
TRUCK PRODUCTION INDEX: Q3 2024 Truck Production drops 8.9%
DATAPOINT: 2024 NA Crane Production
SHOW REPORT: Electric Boats Highlight 2024 Cannes Yacht Festival
BRAZIL/SOUTH AMERICA:- Brazil Set To Start First Natural Gas Truck Corridor
- Randon Brazil Delivers First Semi-Trailer with Electric Drive System
JAPAN: Ammonia-fueled Tugboat Completed
SouthEAST ASIA: AEC Discusses New Goals as Markets Integrate
CHINA:: EU Reportedly Votes Tariff Hikes on Chinese EVs
INDIA: Electric Tractors: The Future of Sustainable Agriculture -
AEC Discusses New Goals as Markets Integrate
SOUTHEAST ASIA REPORT
Akihiro Komuro The Association of Southeast Asian Nations (ASEAN) has outlined the framework for a new implementation plan for the ASEAN Economic Community (AEC), which is attempting to integrate the regional market. The plan will focus on digitalization and decarbonization of the economy as key objectives to be achieved by 2026-30. It will accelerate the integration of the market of 700 million people.
According to the draft plan, it will be structured around six goals, including creating an environment that encourages technological innovation, attracting investment in the green economy and building a food security system. It will include more than 200 specific implementation plans. The plan will be discussed at the ASEAN summit, which began in Laos on Oct. 9, 2024.
The plan includes creating a renewable energy supply network that spans member countries, making it easier for companies to provide financial services, such as fintech, across multiple countries in the region. In addition to digitizing trade transactions to facilitate trade, discussions are underway to include cooperation in the development of EV supply networks and infrastructure.
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Electric Tractors Near for India Agriculture
INDIA REPORT
Aditya Kondejkar As India continues to embrace electrification across many sectors, agriculture stands as one of the next frontiers for transformation. Despite substantial progress in electric vehicles (EVs) for urban mobility, the Agricultural sector, particularly off-road machinery like tractors, remains largely unaddressed. Yet, with emerging technological innovations and government support, electric tractors are poised to revolutionize Indian farming.
Government Initiatives and the Current Landscape.India’s government has taken significant steps to encourage electrification in multiple sectors. Initiatives such as FAME I & II, the Production-Linked Incentive (PLI) scheme, and the Electric Mobility Promotion Scheme (EMPS) have propelled the EV market forward. By the end of FY2024, cumulative EV sales reached over 4.1 million units, primarily dominated by two-wheelers and three-wheelers. However, the agricultural sector remains an exception, with minimal progress in electrifying farming machinery.
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VW Employment “Earthquake” Hits Germany
ALTERNATIVE POWER REPORT
Guy Youngs Volkswagen Group has let it be known that it might need to shutter two factories in Germany. It also indicated it might need to end the “guaranteed employment” policy it has adhered to for decades that is designed to ensure workers there will always be a job for them within the Volkswagen family. The news has rocked the company and has been described as an earthquake by some in the German media
Layoffs, which are common in the industry, are not the Volkswagen way,…
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