JCB Invests To Double Its Size in Latin America

News: Production

2024-06-18

JCB Invests To Double Its Size in Latin America

BRAZIL/SOUTH AMERICA REPORT 
Fabio Ferraresi
Fabio Ferraresi

JCB has unveiled the largest investment in its history in Latin America. It will inject US$ 100 million into its Latin American operations with the goal of doubling its size in the region by 2030.

The majority of the resources, US$ 70 million, will be allocated to factory expansion. According to JCB, US$ 30 million will be invested in the modernization of the Sorocaba (SP) facility.

An additional US$ 10 million is earmarked for the development of new products and the localization of certain equipment. Another US$ 10 million will be directed towards the distributor network.

The company says this investment is expected to generate 1,000 new jobs: 300 direct and 700 indirect. Currently, JCB employs 600 people in Latin America, most of whom are based in Sorocaba, which serves as the production hub for the entire region.

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Ford To Manufacture Ranger Engines in Argentina

Ford has announced the production of 2.0 and 3.0 V6 engines for the new Ranger in Argentina. The engines will be manufactured at the General Pacheco plant, where Ford has been producing the pickup since 2023.

Initially, only the Lion 3.0 V6 engine will be produced in Argentina. In the second half of the year, the 2.0 engine will also begin production in Pacheco. Ford has not disclosed the localization rates for each engine. Previously, the Panther 2.0 engine (170 hp and 41.2 kgfm) was sourced from India, while the Lion 3.0 V6 engine (250 hp and 61.3 kgfm) was imported from England.

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Iseki develops one of the largest unmanned tractors in Japan

FAR EAST: JAPAN REPORT
Akihiro Komuro
Akihiro Komuro

Iseki announced the development of an unmanned tractor that operates without a pilot under the supervision of a human operator. With 123 horsepower, one of the largest in Japan, the tractor will support labor-saving agricultural work amid the trend toward large-scale farming. Priced from 21.9 million yen, the tractor will be marketed to large-scale farmers, mainly in Hokkaido.

The company’s human-supervised robotic tractor, which previously had a maximum power of 98 hp, has increased its power to 123 hp, thereby expanding the range of work and reducing the time required. It also reduces the time needed to train farmers who are unfamiliar with operating the tractor, allowing them to work more efficiently.

Source: The Nikkei

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Suzuki Withdraws from Thai 4-wheel Vehicle Production

THAILAND REPORT
Akihiro Komuro
Akihiro Komuro

Suzuki says it will withdraw from four-wheel vehicle production in Thailand. Production at the local subsidiary will cease by the end of 2025, and vehicles made at the main plant in India will be exported to Thailand for sale. Thailand has long been a stronghold of Japanese automakers, but Chinese automakers have gone on the offensive with low-cost EVs, and with Subaru’s decision to pull out, the plight of Japanese automakers is becoming more apparent.

Suzuki Motor Thailand (SMT), a local subsidiary, will cease production by the end of 2025, and SMT will focus on sales and customer service in Thailand. Thai Suzuki Motor, which produces motorcycles and outboard engines, will continue operations.

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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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Hybrid Vehicles Adapted as Alternative To EVs

INDIA REPORT
Aditya Kondejkar

Hybrid vehicles are gaining traction in India as a practical alternative to fully electric vehicles (EVs), a trend driven by strategic manufacturer initiatives, evolving consumer preferences, and infrastructural and policy challenges.

Major automakers like Maruti Suzuki, Toyota, Nissan, Hyundai, and Kia are launching hybrid models to meet the increasing demand for fuel-efficient and environmentally friendly vehicles. Hybrids offer a balanced solution, providing the benefits of both internal combustion engines and electric powertrains without the range anxiety associated with EVs.

Despite higher taxes on hybrids compared to EVs, the slow development of EV infrastructure and long waiting periods for EVs make hybrids a more viable option for many consumers. The hybrid market is expected to continue its growth, supported by ongoing innovation and potential policy adjustments to reduce costs, positioning hybrids as a crucial component in India’s journey towards sustainable transportation.

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Alternative Power Report, June 2024

PSR Alternative Power Report – Jun 2024Download

China may place 25% tariffs on EVs in retaliation for similar moves by the US and the European Union. Read about this as well as articles on new battery development, the decline in diesel sales and a new battery from CATL in the June 2024 Alternative Power Report from Power Systems Research. PSR

2024 Global Snowmobile Production 

89,400 units is the estimate by Power Systems Research of the number of Snowmobiles expected to be produced in Canada, Finland, Italy, Japan and U.S. in 2024.

Snowmobiles, often called sleds, are motor vehicles that have a revolving tread in the rear and steerable runners in the front, for traveling over snow off-road, often at speeds exceeding 100 mph. They are used for recreation and industrial purposes.

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 Research

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

Fool’s Gold May Be Worth More than Previously Believed

In our childhood, many of us would have found iron pyrites and mistakenly believed it was gold. The disappointment of finding out it was Fools Gold may be over. Fool’s gold could kick off this century’s ‘gold rush’ after scientists discovered it contains lithium.

Scientists at West Virginia University discovered a surprising amount of lithium in 15 rock samples of iron pyrite.

Source: Daily Mail (via MSN): Read The Article

PSR Analysis: Sulphur-rich pyrite doesn’t require as many resources during the extraction process which means its environmental impact is much lower than the lithium-ion alternative. And fool’s gold is found in quartz veins that is mined throughout the world, which means there could be much more lithium hiding through the world than was originally thought.   PSR

Guy Youngs is Forecast & Adoption Lead at Power Systems Research