2025-06-22
The May 2025 issue of the Alternative Power Report contains articles on Volvo’s launch of the world’s first electric articulated Hauler, Aeson Power’s new sodium battery products, the IMO votes on the first-ever global carbon price on shipping, and a report on CATL’s next generation batteries. Read it all here. PSR
Guy Youngs is Forecast and Technology Adoption Lead at Power Systems Research
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.
LG Energy Solution, a major company in South Korea, has withdrawn its investment plan for a materials factory. The company cited a slowdown in the electric vehicle (EV) market and a diminishing competitive advantage in Indonesia, where nickel is widely produced, as reasons for the decision.
Battery production involves processes from material manufacturing to productization, and the withdrawn plans included the construction of a nickel smelter for the main cathode material, as well as the production of cathode precursors and other materials.
According to data from the National Association of Road Implement Manufacturers (Anfir), the trailer industry registered a 2.4% decline in registrations during the January–May 2025 period, totaling 60,495 units compared to 62,001 units in the same period of 2024.
The most significant contraction occurred in the heavy-duty segment—trailers and semi-trailers—which registered 30,304 units, reflecting an 18% year-over-year decrease.
The world’s sources of critical minerals are increasingly concentrated in just a few countries, most notably China, leaving the global economy vulnerable to supply cutoffs that could disrupt economies and hit consumers with higher prices, a report from International Energy Agency (IEA) has stated.
The report looked at the availability of minerals and metals that may be small in quantity but large in impact when it comes to shifting the economy away from fossil fuels toward electricity and renewable energy.
The U.S. had a robust policy in place to promote the adoption of electric cars, and it used all the tools conservatives say they like — carrots such as financial incentives instead of sticks such as mandates. But now, according to the IEA (International Energy Agency), USA is moving backwards while the rest of the world continues to move forward.
In its EV Global Outlook 2025 report, the IEA says that 20% of new cars sold worldwide in 2024 were electric, a definition that includes plug-in hybrids as well as battery-electric cars.
2025-06-14
MOSCOW—(TASS) Sales of heavy trucks in Russia in 2025 may decline by 23% year-on-year to 85,000 units, Mikhail Matasov, Deputy General Director of the Russian truck producer Kamaz, told reporters. “The market will be poor in 2025. We currently estimate it at 85,000 units against 110,000 this year. We think that 85,000 is even optimistic,” he said.
Matasov noted that the decline in sales can be attributed to a decrease in demand for cargo transportation.
“If there is no construction, then there will be fewer dump trucks (needed). We also provide trucks for cargo transportation industry – if there are fewer of them, then there will be fewer haulage trucks,” he explained.
“The plan for 2025 is, in my opinion, 10,000 units. But we don’t know if there will be that many, because Chinese brands have large warehouse stocks,” Matasov added.
2025-06-13
Yuchai and XCMG have signed an agreement to jointly build and share new channels for overseas development and embark on a new chapter of cooperation in the Eurasian region.
The agreement stipulates that Yuchai and XCMG will establish Yuchai Service Stations and Yuchai Service Training Centers in the Eurasian region to provide technical training and corresponding technical support for XCMG’s local dealers and customers. Yuchai also authorizes XCMG as its spare parts dealer in the Eurasian region. In addition, the two parties will jointly carry out the Blue Ocean Action brand promotion activities in the Eurasian market to enhance their international brand influence.
It is reported that XCMG, which sells construction machinery and tractors equipped with Yuchai engines in the Eurasian region, is one of Yuchai’s core OEMs in the area. After the signing of this strategic agreement, the two sides will further deepen their cooperation and promote the high-quality development of their overseas expansion strategies.
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.
The U.S. had a robust policy in place to promote the adoption of electric cars, and it used all the tools conservatives say they like — carrots such as financial incentives instead of sticks such as mandates. But now, according to the IEA (International Energy Agency), USA is moving backwards while the rest of the world continues to move forward.
In its EV Global Outlook 2025 report, the IEA says that 20% of new cars sold worldwide in 2024 were electric, a definition that includes plug-in hybrids as well as battery-electric cars.
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