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Electric Boats at 2024 Cannes Show
SHOW REPORT
For more information on the marine market, visit MarineLink, the Power Systems Research proprietary marine products database.
More than 600 exhibitors from the marine pleasure industry showed off their latest models of boats, yachts, marine equipment and other products and services at the 47th annual Cannes Yachting Festival, Europe’s biggest in-water event, just closed its doors. The event ran Sept. 10-15.
An estimated 50,000 visitors attended the festival and got an excellent note for organization from all participants and visitors. The next year’s edition will be held Sept. 9-14, 2025.
The electric marine market has been very dynamic in the last 10 years and electric products and accessories were very popular at the show. Investments in research and development of new technologies and their implementation into boats have been extremely high.
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Tata Negotiates for Production Plant in Brazil
BRAZIL/SOUTH AMERICA REPORT
Fabio Ferraresi The São Paulo state government is working to attract the attention of automotive companies to the state, including Tata Motors, a subsidiary of the giant Indian-based Tata Group.
Tata’s staff has been in Brazil since the end of August 2024 and they will meet São Paulo government again in Germany by the end of September.
The secretary of Government, Jorge Lima, also revealed negotiations with a Chinese auto parts manufacturers for a factory in the state. The…
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Colombia Resumes Taxing Vehicles from Brazil
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 …
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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.
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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.
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Rising Inventory Levels Challenge Auto Dealers
INDIA REPORT
Aditya Kondejkar The Indian automotive market is grappling with a significant inventory challenge, with passenger vehicle stock levels reaching 55 to 60 days’ worth, equating to approximately 550,000 to 600,000 unsold vehicles as of May 2024. This rise in inventory has been a concern for auto dealers, who are already feeling the strain from prolonged high inventory levels. During the previous festive season, inventory levels surpassed 60 days, prompting the Federation of Automobile Dealers’ Associations (FADA) to request reductions in stock dispatches from OEMs and the Society of Indian Automobile Manufacturers (SIAM).
The increasing inventory is placing considerable financial pressure on dealerships. Longer inventory holding periods impact cash flow and increase interest costs, making it challenging for dealers to manage their finances effectively. In response to this growing issue, FADA plans to approach SIAM to advise its members on moderating stock inflow and addressing the inventory surplus.
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2024 CARB ACT Impacts Truck Sales
NORTH AMERICA REPORT
Chris Fisher The article shown here is starting to give us some insight as to how the 2024 CARB ACT regulations are playing out in California and what the other states who plan to adopt these regulations can expect upon their implementation. It is a bit of a long read but very insightful of what the truck dealers are currently experiencing.
Information is beginning to trickle out about sales requirements for commercial truck dealers in California that will soon extend to other states committed to implementing the California Air Resources Board’s (CARB) Advanced Clean Trucks (ACT) and low-NOx Omnibus regulations.
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BYD Plans Factory in Turkey To Produce 150,000 Vehicles
CHINA REPORT
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.
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New Batteries Promise Long Life, Greater Safety
ALTERNATIVE POWER REPORT
Guy Youngs A research team at the University of Hong Kong (HKU) has developed a new generation of lithium metal batteries, with the innovation centering on microcrack-free polymer electrolytes, which promise extended lifespan and enhanced safety at temperatures as high as 100 degrees Celsius
The microcrack-free polymer electrolytes are synthesized via a straightforward one-step click reaction, exhibiting notable attributes including “a remarkable resistance to dendrite growth…
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