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  • Toyota and Chiyoda Develop Hydrogen Production System

    JAPAN REPORT
    Akihiro Komuro
    Akihiro Komuro

    Toyota Motor Corporation and Chiyoda Corporation have announced the joint development of a hydrogen production system. The two companies plan to begin demonstration tests at Toyota’s main plant in fiscal 2025 and hope to begin marketing the system around fiscal 2027.

    The system will produce hydrogen by electrolyzing water. It will have an output of about 5 megawatts and will be able to produce about 100 kilograms of hydrogen per hour. The new plant has a footprint of 6 meters wide by 2.5 meters deep, about half the size of a typical plant. By linking multiple plants, the production volume can be significantly increased.

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  • Hyundai Shifts EV Plans, Introduces Genesis Hybrid

    SOUTH KOREA REPORT

    Hyundai Motor Company is developing a hybrid vehicle for its Genesis luxury brand. The company had planned to focus on EVs and FCVs for the Genesis, which will be launched after 2025. The recent slowdown in the growth of the EV market has forced the company to change its strategy.

    According to industry insiders, Hyundai Motor is developing a hybrid engine and related systems for the Genesis, which is expected to be launched in 2025. Hybrid models will be added to the mainstream GV80 and GV70 models. The company plans to expand its HV lineup under the Hyundai Motor and Kia brands as well, having decided to introduce HVs under its luxury car brands due to the risk of slumping sales if it continues to shift more toward EVs. Hyundai Motor’s HV sales in 2023 were up 53% from the previous year to approximately 380,000 units.

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  • Japanese Car Share Plummets in Thailand, China Gains

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    THAILAND REPORT
    Akihiro Komuro
    Akihiro Komuro

    The share of Japanese automakers in Thailand’s new car market, once considered a “stronghold for Japanese cars,” is plummeting. This is due to the rapid adoption of electric vehicles due to the government’s preferential policies and the rise of Chinese manufacturers focusing on electric vehicles. Thailand is also the largest automobile manufacturing base in Southeast Asia, and this could affect the entire regional market. According to a tally by Toyota Motor’s Thai subsidiary, the nine Japanese giants will have a combined market share of 77.8% in 2023. They once held a 90% share, but the 2023 mark was 7.6 percentage points lower than the previous year.

    In Thailand, companies that import EVs can receive a subsidy of up to 150,000 baht (about $600,000) per vehicle and a tariff reduction of up to 40% if they sign a memorandum of understanding with the government. More than 10 companies, including Chinese EV giant BYD, have signed the MOU because of the lower selling price.

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  • Alternative Power Report, February 2024

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    The February issue of the Alternative Power Report produced by Power Systems Research contains articles on China battery production and Chinese EV market share gains in Thailand. There’s also news about CATL’s wind power project and several articles about EV heavy truck development.

  • PowerTALK™, February 2024

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    China companies dealing in alternative power–batteries and electric vehicles–make the news in the February issue of PowerTALK by Power Systems Research. CATL has gained market share in the global battery market and it has formed a production alliance in China. At the same time, China OEMs are gaining market share in Thailand’s EV market. Mike Aistrup reports that the global powersports recreational products market is forecast to exceed US$ 35 Billion in 2025.

    IN THIS ISSUE

    ALTERNATIVE POWER REPORT

    • CATL Expands Battery Market Share Lead in 2023
    • Electric Trucks Can Haul 100 Tons
    • Daimler’s Aims for Hydrogen Milestone
    • Toyota Maintains EV Market Skepticism

    NORTH AMERICA:

    • Shell To Exit Light Duty FCEV Market in California
    • Global Powersports Market To Exceed $35 Billion in 2025

    DATAPOINT: NA ATVs
    BRAZIL/SOUTH AMERICA:

    • VW To Invest US$250 Million in Argentina by 2026
    • Cummins To Produce New Off Highway Engine at Guarulhos Plant
    • Brazil Posts Record Heavy Duty Trailers Sales in January 2024  

    JAPAN: Toyota and Chiyoda Develop Hydrogen Production System
    SOUTH KOREA: Hyundai Motor Shifts EV Plans, Introduces Genesis Hybrid
    THAILAND: Japanese Car Share Plummets in Thailand, China Gains Share
    CHINA: LGMG and CATAL Sign Strategic Cooperation Agreement
    INDIA:     India FY25 Budget Is Driving EV Revolution

  • 2024 NA ATV Production: 281,000 Units

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    281,000 units is the estimate by Power Systems Research of the number of ATVs expected to be produced in North America in 2024.

    ATV is short term for All Terrain Vehicle. This vehicle commonly has four wheels and is designed to be driven off road. It seats one person, or sometimes two, one in front of the other. ATVs are utilized in a variety of activities that include recreation, sport and military related needs. 

    This product information comes from industry interviews and from two proprietary databases maintained by Power Systems Research: EnginLink™ , which provides information on engines, and OE Link™, a database of equipment manufacturers. PSR

    Carol Turner is Senior Analyst, Global Operations at Power Systems Researech

  • Q4 2023 Power Systems Research Truck Production Index (PSR-TPI) Climbs 8.4%

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    St. Paul, Minnesota, USA— The Power Systems Research Truck Production Index (PSR-TPI) increased from 107 to 116, or 8.4% for the 12 months ended Dec. 31, 2023. For the fourth quarter of 2023, ending Dec. 31, 2023, the index increased from 112 to 116, or 3.6%, compared to Q3 2023.

    The PSR-TPI is a quarterly truck production report that measures global truck production 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.

    The next update of the Power Systems Research TPI will be in April 2024 and will reflect changes in the TPI during Q1 2024. PSR

    Jim Downey is vice president – global data products at Power Systems Research and Chris Fisher is the senior commercial vehicle analyst at Power Systems Research 

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