Colombia Resumes Taxing Vehicles from Brazil

News: Power Systems Research

2024-09-23

Colombia Resumes Taxing Vehicles from Brazil

and
BRAZIL/SOUTH AMERICA REPORT 

Starting in 2025, vehicle exports from Brazil to Colombia will once again be taxed at a 54% rate. The tax exemption agreement, in place since 2017, will not be renewed. According to the Colombian government, this decision is designed to protect its local automotive industry, currently dominated by Renault. This is a setback for Brazilian manufacturers, who exported fewer vehicles in 2024, with a 30% drop compared to the previous year.

Source: Automotive Business     Read The Article

PSR Analysis: This means an important reduction of exports from Brazil, affecting some OEM exports severely; for others, there will be no impact. These production impacts are already deployed in the forecast in OE Link database.

Fabio Ferraresi is Director, Business Development-South America, for Power Systems Research

Yanmar Acquires CLAAS, India Combine Manufacturer

JAPAN REPORT

Yanmar Holdings announced Aug. 26, 2024, that it will acquire Claas India, a combine harvester and manufacturer in India, and will acquire all its shares Sept. 30, 2024. The amount of the acquisition was not disclosed. The company has been importing and selling combines from outside India but will now start local production. The acquisition will strengthen the company’s business in India, where the market is expanding. Following the acquisition, CLAAS India’s combine harvesters will be produced and sold under the Yanmar brand.

Read More»

Hyundai To Double Number of Hybrid Models

SOUTH KOREA REPORT

Hyundai Motor in August announced plans to expand its lineup of hybrid vehicles from seven to 14 models in response to slowing global demand for electric vehicles. The company will also use HVs for the first time in its Genesis luxury car brand. The company also announced plans to increase its annual global sales volume by 30% from 2023 to 5.55 million units by 2030, and to invest 120.5 trillion won (about 13 trillion yen) in R&D and capital investment over the 10 years out to 2033. The company will focus on advanced technologies such as next-generation HVs, in-vehicle batteries and automated driving technology.

Read More»

2024-08-27

BYD Plans Factory in Turkey To Produce 150,000 Vehicles

CHINA REPORT
Jack Hao
Jack Hao


BYD has signed an agreement with the Turkish government to invest USD 1 Billion to build a factory in Turkey. This is BYD’s second factory in Europe following one built in Hungary. Under the agreement, BYD will build a factory and research and development center with an annual production of 150,000 vehicles. The factory is planned to start production by the end of 2026 and will provide job opportunities for up to 5,000 workers. The factory is expected to improve BYD’s logistics efficiency.

The Turkish government is welcoming the factory construction of Chinese automotive enterprises and is holding discussions regarding factory construction are taking place with SAIC and Great Wall, as well as BYD and Chery. Previously, Turkey announced the cancellation of a plan to impose an additional 40% tariff on all vehicles from China, which was announced a month earlier, to encourage Chinese automotive enterprises to invest in Turkey.

Read More»

Wastewater Needed by LFP Battery Supply Chain

Many people are talking about lithium iron phosphate batteries, especially auto industry stakeholders who are eager to get their hands on a higher-performing, lower-costing and safer battery. If the supply chain doesn’t get its act together soon, this may be problematic.

81% of the global supply of phosphate rock is produced by just six countries, with China and Morocco in the lead, but the real problem is further up the supply chain. Regardless of the source, an LFP battery can’t use phosphate rock straight from the mine. It has to be purified with only 3% of total phosphate production currently suitable for lithium ion battery applications, given its refinement needs.

Source: CleanTechnica: Read The Article

PSR Analysis: Gathering phosphates from wastewater sludge could be a solution, but as with most new tech, investment is needed. A side effect of this could be improved water quality.   PSR

Guy Youngs is Forecast & Adoption Lead for Power Systems Research