-
Fortescue Cancels Flagship Hydrogen Projects
Guy Youngs Fortescue’s recent decision to abandon two major hydrogen-for-energy projects after reaching a Final Investment Decision (FID) serves as an important signal for policymakers around the world, particularly in the UK, which is still pretending its autumn hydrogen strategy update will be evidence led.
These cancellations, one located in Gladstone, Australia, and another in Arizona, represent more than just isolated setbacks. Hydrogen as an energy source, as opposed to its use as an industrial feedstock, is increasingly failing under scrutiny across the globe
US energy policy under the Trump administration, particularly the removal of certain hydrogen-related subsidies, has led to uncertainty which has in turn quickly revealed the true economics of hydrogen production. With the incentives removed, the project’s already tenuous financial viability vanished, prompting Fortescue to write off approximately $150 million in pre-tax losses.
-
BYD Delivers 90,000 vehicles to Thailand in three years
Akihiro Komuro BYD announced that it has delivered a cumulative total of 90,000 vehicles to the Thai passenger car market since entering it three years ago. Last year, BYD began producing EVs at its Thai plant. BYD is preparing to produce plug-in hybrid electric vehicles (PHVs) to further expand its market share.
BYD reported that 6,100 of the factory’s 6,900 employees are Thai nationals. BYD also announced that it will produce plug-in hybrid electric (PHV) sedans at the Thai factory. This will be the first time BYD has produced PHVs in Thailand. The factory has an annual production capacity of 150,000 vehicles. Expanding the range of models produced will increase consumer choice and the factory’s operating rate.
BYD entered the Thai passenger vehicle market in 2022 by exporting the EV SUV “ATTO3” from China. BYD is focusing on establishing local factories to expand into overseas markets. The Thai factory began operations in July 2024 and is positioned as BYD’s first full-scale passenger vehicle factory overseas.
-
India’s Used Car Market Shifts Toward Profitability
Aditya Kondejkar India’s used car market has entered a high-growth phase, reflecting a clear structural shift in consumer demand. After years of sluggish expansion, the segment grew 8% in FY25, with FY26 growth expected to touch 10%.
Sales volumes are set to cross the 6-million-unit mark this fiscal. The used-to-new car sales ratio has reached 1.4x, a significant increase from less than 1.0 five years ago. This growth is being driven by a rising preference for value-for-money mobility solutions, especially in a post-pandemic landscape where cost sensitivity remains high.
The used car segment is also increasingly seen as a reliable, first-choice option for new-age consumers, thanks to greater digital access and easier financing. These dynamics indicate that used vehicles are no longer a fallback option, but a mainstream choice for a broad swath of buyers.
-
What Will Happen in Hino, Mitsubishi Fuso Merger?
Akihiro Komuro Hino Motors and Mitsubishi Fuso Truck and Bus Corporation have reached a final agreement to merge their operations in April 2026, but what will this mean? A basic agreement was initially reached in 2023, but the decision was delayed due to irregularities in Hino’s engine performance certifications. The merger will finally move forward following Hino’s settlement with U.S. authorities.
The commercial vehicle industry has undergone rapid changes over the past two years of stalled negotiations, so both companies will need to quickly demonstrate the benefits of the merger to make up for lost time. The biggest change is the tightening of environmental regulations.
In May 2024, the European Union (EU) strengthened CO₂ emission regulations for large trucks. By 2030, emissions must be reduced by 45% compared to 2019 levels. This is an increase from the previous target of 30%. By 2040, emissions must be reduced by 90%, a very strict requirement.
-
Sodium Batteries: Another Sign EVs Here To Stay
Guy Youngs The rising demand for zero-emission mobility goes beyond the nice idea of preventing a catastrophic climate crisis. EVs are a better fit for the connected, electrified lifestyle of the 21st century; they offer more opportunities for convenience, they are more useful for weathering power outages and climate-connected emergencies, and they are more adaptable to the needs of fleet managers, among other advantages.
However, while some researchers note that “salt batteries” are not quite ready for prime time, other stakeholders — including industry leader CATL — are already laying plans for mass production. Last month, CATL also burned up the Internet when it announced a suite of two sodium-ion batteries ready for full volume production by the end of this year.
-
Will Hydrogen Fuel Cell Trucks Follow Car Storyline?
Guy Youngs In the last decade or so, the market apparently has decided that hydrogen-powered cars do not make sense, and they can’t compete in the market as a result. Despite this situation, there are still plenty of discussions, trials, and vehicle development programs for hydrogen-powered trucks.
In theory, hydrogen can compete in the truck market, but in practice, it’s an entirely different matter. Battery technology keeps improving rapidly, and solutions for battery-electric trucks are becoming clear. If battery costs keep coming down — as expected — and proper charging hubs for heavy-duty electric vehicles get developed, battery-electric trucks seem set to win the day.
TPI
PSR Truck Production Index
Free quarterly global commercial vehicle production report.
Alternative Power Report
The latest EV and power source news including batteries and fuel cells with analysis by PSR experts.
PowerTALK News
Stay informed each month with insights from Power Systems Research’s analysts working around the world as they identify and comment on important news items in the company’s monthly newsletter.
Subscribe View Archive
OE Link™ Offers
Global
Coverage
OE Link™ database provides OEM products, both On-Road and Off-Road, in 12 regions.
Current Reports
Download complimentary reports that show the type of information available from Power Systems Research.
PowerTALK News
Stay informed each month with insights from Power Systems Research analysts working around the world as they identify and comment on important news items in the company’s monthly newsletter.
Subscribe