JCB Invests To Double Its Size in Latin America

News: Regions

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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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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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.

Global Snowmobiles – Jun 2024Download

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

Europe Investigates Chinese EV Subsidies

Last October, the European Commission opened an inquiry into whether Chinese automakers are the beneficiaries of such significant subsidies by the Chinese government that they have an unfair economic advantage over domestic manufacturers. The question is ridiculous, of course. Everyone on Earth knows the Chinese government has been providing massive support to its automotive sector for 20 years.

China has been open about its commitment to electric car manufacturing. It has told everyone its plans and then made those plans a reality. So, it should come as no surprise that Chinese companies can build electric cars in China, ship them overseas, and still undercut the price of electric cars from domestic manufacturers by 25% or more.

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Unsold Chinese EVs Clogging European Ports

Guy Youngs
Guy Youngs

The threat of masses of cheap EVs made in China has governments concerned in Europe and the US. The USA has introduced a bill that would raise the tariff on EVs from China to 100% to protect US auto workers “from the existential threat posed by China” but Europe has no such tariff protections. The lack of high import tariffs has encouraged Chinese manufacturers to look to Europe as a place where they can send boatloads (literally) of electric cars.

A report by the Financial Times claims that Chinese manufacturers are sending more EVs to Europe than they can sell, which has led to thousands of EVs being parked at port facilities. The port operators are displeased because the glut of cars is interfering with other port activities. Some now say they are no longer ports but rather car parks for newly arrived Chinese EVs

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2024-05-25

Volvo To Build Truck Plant in Mexico

GLOBAL REPORT
Chris Fisher
Chris Fisher

In April 2024, Volvo announced that it will build a heavy-duty truck manufacturing plant in Mexico to supplement the Group’s U.S. production. The plant will provide additional capacity to support the growth plans of Volvo Trucks and Mack Trucks in the U.S. and Canadian markets, and support Mack truck sales in Mexico and Latin America.  The plant is expected to be operational in 2026. 

The new plant will be approximately 1.7 million square feet in size, and will focus on production of heavy-duty conventional vehicles for the Volvo and Mack brands. It will be a complete conventional vehicle assembly facility including cab body-in-white production and paint.  At the time of this writing, Volvo has not announced the location of the new production facility.

Source: Volvo AB

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2032 Global ATV-SxS Market To Hit $22.9 Billion

GLOBAL REPORT
Michael Aistrup

According to the latest research by Power Systems Research, the global ATV & SxS market size is valued at $13.54 billion in 2024 and is expected to expand at a CAGR of 6.87% during the forecast period, reaching $22.85 billion by 2032.

ATV stands for “All Terrain Vehicle.” An ATV is an off-road vehicle with handlebar steering and a motorcycle-style seat that can seat a driver and one passenger in tandem. ATVs are designed for a variety of uneven terrain and roads. A side-by-side vehicle (SxS) is an off-road vehicle known for its 4- to 6-wheel design, unique side-by-side bucket seat setup, and steering wheel and pedal drive system.

Source: Power Systems Research

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