News: Partnerships

Latest Power Source Joint Development News

PSR’s network of analysts are following the latest partnerships, mergers and acquisitions in the global powertrain and energy storage markets. Subscribe to PowerTALK email newsletter.

2024-09-23

Yuchai, Kim Long Motor Vietnam Sign Agreement

CHINA REPORT
Jack Hao
Jack Hao

Following the opening of Yuchai’s Thailand factory, Guangxi Yuchai Machinery Co., Ltd. (Yuchai) and Kim Long Motor Hue Joint Stock Company, a subsidiary of Vietnam’s FUTA Group (Kim Long Motor), have signed a comprehensive strategic cooperation agreement in Vietnam. The two parties have jointly initiated the construction of an engine factory with a total investment of $260 million.

The engine factory, a collaboration between Yuchai Machinery Co., Ltd. and Kim Long Motor Hue, a subsidiary of Vietnam’s FUTA Group, will be invested in two phases, with the first phase expected to commence production in the second quarter of 2025. The factory will be equipped with a globally leading, highly automated engine assembly line, primarily producing Yuchai’s full range of diesel and natural gas engines for applications in commercial vehicles, engineering machinery, agricultural machinery, ships, power generation, and more, with an annual production capacity exceeding 12,000 units.

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2024-08-27

Marcopolo Volare Unveils Hybrid Ethanol 1.0 Micro Bus

BRAZIL/SOUTH AMERICA REPORT 
Fabio Ferraresi
Fabio Ferraresi

During Latbus 2024 in São Paulo, Volare unveiled its Attack 9 HVE, Brazil’s pioneering ethanol hybrid minibus. The project is being developed by Volare, a division of the Marcopolo group, in collaboration with Horse and WEG. Although presented in 2024, the official market release is scheduled for 2026.

The vehicle is powered by a 1.0-liter, three-cylinder ethanol engine supplied by Horse, which also functions as an electric generator. This generator supplies energy to recharge the batteries of WEG’s electric drive system. The internal combustion engine operates for only one-third of the vehicle’s total operational time, maintaining an optimal rotational speed of approximately 3,000 rpm.

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2024-07-15

LG, Hyundai Open Indonesia EV Battery Plant

SOUTH KOREA REPORT

South Korean battery giants LG Energy Solutions and Hyundai Motor have opened their first battery plant in Indonesia. The plant will produce batteries for electric vehicles to be sold locally and in neighboring countries. Indonesian President Joko made the announcement at a ceremony held July 3 in the Karawang region near the capital, Jakarta, to mark the opening of the new plant.

The investment is $1.2 billion, split 50-50 between LG Energy and Hyundai Motor. The annual battery production capacity is 10 GWh, which is equivalent to 150,000 electric vehicles. The plan is to invest an additional $2 billion in the second phase to increase the capacity to 20 GWh.

The company will produce lithium-ion batteries using a cathode material called NCMA. The high nickel content increases battery performance and range. The new plant will be LG Energy’s fifth production site in Southeast Asia, following those in South Korea, Poland, China and the U.S.

LG Energy has already supplied NCMA to Tesla, among others. In addition to Indonesia, the new plant will also serve as an export base for batteries used in electric vehicles sold by Hyundai Motor in neighboring countries in Southeast Asia, India, South Korea and elsewhere.

Source: The Nikkei

PSR Analysis:  South Korea, which is positioning its battery industry as a key national industry, is moving very fast. The fact that it was able to get its battery plant up and running before its competitors may give it an advantage in its future business development in the region. But China’s CATL, the world’s largest EV battery manufacturer, plans to build new factories for batteries, battery materials and battery recycling in Indonesia in cooperation with local companies. The investment is about $6 billion. The news of the new plant in Indonesia is good news for South Korea’s automotive industry, but whether South Korea will be able to maintain a stable supply of EV battery materials in the future remains to be seen yet. PSR

Akihiro Komuro is Research Analyst, Far East and Southeast Asia, for Power Systems Research

Chinese Joint Venture Begins Mississippi Battery Plant

CHINA REPORT
Jack Hao
Jack Hao

ACT Company (AMPLIFY CELL TECHNOLOGIES LLC ), a Chinese a joint venture company, has broken ground for a battery production plant in Mississippi.

ACT Company was established by EVE Energy’s wholly owned subsidiary EVE Energy US, Cummins, Daimler Trucks, and Paccar. The joint venture will produce prismatic lithium iron phosphate batteries, mainly for designated North American commercial vehicle applications. It will have an annual production capacity of about 21GWh and will provide more than 2,000 local jobs.

The project is expected to start shipping in 2026, and the three foreign enterprises and their affiliates will become the main customers, purchasing most of the products from the factory.

ACT Company is the first project of EVE Energy’s CLS model, aiming to enhance the flexibility and competitiveness in the global cooperation process, and to work with more partners to jointly promote sustainable development. The successful beginning of this project marks the entry of EVE Energy into a new stage of global development.

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2024-06-18

Battery Swap Alliance Seen as EV Recharging Solution

CHINA REPORT
Jack Hao
Jack Hao

Driven by multiple factors such as government support, market demand, and battery technology upgrades, the battery swap solution is attracting much attention from the market.

NIO Energy has obtained a strategic investment of 1.5 billion yuan from Wuhan Guangchuang Xingxin Technology Phase I Venture Capital Fund Partnership and other institutions. Earlier, FAW Group signed a strategic cooperation framework agreement with NIO[ it is the seventh car company to sign a battery swap cooperation agreement with NIO, following GAC Group, Changan Automobile, Geely Holding, Chery Automobile, Jianghuai Automobile Group, and Lotus. This covers almost half of the mainstream domestic car companies.

Competition in the battery swap track involves more than just NIO and several passenger car companies. Recently, power battery enterprises, commercial vehicle companies, and mobility platforms also have been aggressively entering this field. On May 16, 2024, CATL signed a framework agreement for a battery swap project cooperation with GAC Aion and Era Electric Service; in the commercial vehicle sector, Nanjing Golden Dragon, Sany Automobile, China National Heavy-Duty Truck, Dongfeng Liuzhou, and Hanma Technology have all started to plan the layout of battery swap heavy trucks. In addition, State Power Investment, GCL New Energy, and Sany Group are also positioning to layout heavy truck battery swap stations.

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2024-05-27

Hyundai-Kia Offer Different Hydrogen Engine

Guy Youngs
Guy Youngs

Hyundai and Kia have announced that they plan to work together to create a new hydrogen engine that will better overcome the challenges faced by previous generations of the technology. A lack of refueling infrastructure has been a top issue in this area.

With a focus on this issue, the goal of the collaboration between Hyundai and Kia is to greatly enhance the range of the hydrogen engine.  In fact, they are aiming for an unprecedented range to greatly improve the appeal of using H2 for zero-emission transport and transportation.

Source: Hydrogen Fuel News: Read The Article

PSR Analysis:  There has yet to be a passenger vehicle that is ready for drivers to purchase and use for their everyday needs in a realistic, practical, and affordable way. As a result, in order to overcome the lack of infrastructure, the range and appeal of this, will need to be massive, and in fact it may not be possible.   PSR

Guy Youngs is Forecast & Adoption Lead at Power Systems Research

2024-05-24

Alternative Power Report, May 2024

Alternative Power Report – May 2024Download

The May 2024 Alternative Power Report from Power Systems Research features several stories on Chinese EVs and the impact they are having on European and US markets. There also are stories on hydrogen development and hydrogen fueling stations. PSR

2024-04-17

CATL, Yutong Launch Long-life EV Battery

CATL has launched a battery pack with Yutong Bus Co to power commercial vehicles like buses and trucks. Yutong said the new battery packs will be used in upcoming electric vehicles and that the new long-lasting EV battery has zero degradation through the first 1,000 cycles.

The new EV battery pack, made with CATL, has a 932,000 mile (1.5 million km), 15-year warranty. Yutong calls the long-life battery an industry first. The bus manufacturer introduced another battery with a 10-year and 621,000 mile (1 million km) lifespan.

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2024-04-16

Alternative Power Report, April 2024

Alternative Power Report – Apr 2024Download

The April 2024 Alternative Power Report by Power Systems Research features several articles on batteries including one on sodium ion batteries as an alternative to Lithium Ion batteries, and another on the dropping cost of EV batteries. Hydrogen power sources show increasing promise, and there is an article on Chinese manufacturer CATL launching a battery pack with Yutong Bus Co to power commercial vehicles such as buses and trucks that has a 15-year warranty. PSR