Regions | Power Systems Research

2025-06-22

Rolls-Royce Power Reports Record 2024 Results

Rolls-Royce Power Systems achieved record 2024 performance, with revenue rising 11% to US$5.56 billion (€5.05 billion), surpassing the US$5.5 billion (€5 billion) mark for the first time. Adjusted operating profit jumped 40% to US$728.2 million (€662 million), boosting return on sales to 13.1% (up from 10.4% in 2023).

CEO Dr. Joerg Stratmann credited the results to a focused strategy in energy, government, marine, battery storage, and services. “We’ve grown our market share in mtu products and see strong future potential,” he said. The division recorded US$6.60 billion (€6 billion) in orders, signaling a positive outlook for 2025.

Categories: Europe, Financial, Marine

Office: Europe Office

2025-06-14

2025 Russia Heavy Truck Sales Expected to Decline

Chris Fisher

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.

Categories: Commercial Vehicles, North America, Production, Russia, Sales

Office: United States Offices

2025-06-13

Yuchai, XCMG Sign Mutual Development Agreement

Jack Hao

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.

Categories: Eurasia, Financial, Greater China, Partnerships, Production

Office: China Office

GM Halts Hydrogen Fuel Cell Plant

Guy Youngs

In a move that signals a shift in strategy, General Motors (GM) has pressed pause on its highly anticipated hydrogen fuel cell manufacturing facility in Detroit, MI. First announced in September 2024, the $55 million factory was set to breathe new life into the old State Fairgrounds site and create roughly 300 skilled jobs in the process. Spanning nearly 292,500 square feet, the facility was expected to become a major player in GM’s push toward alternative fuels.

In May 2025, those plans were officially put on hold.

Categories: Alternative Power, Fuel Cells, Hydrogen, North America, Passenger Cars, Minivans, and SUVs, Production

Office: United States Offices

2025-05-25

Evaluating Mahindra’s Acquisition of SML Isuzu

Aditya Kondejkar

Mahindra & Mahindra’s acquisition of a 58.96% stake in SML Isuzu for ₹555 crore marks a calculated push to expand its presence in the intermediate and light commercial vehicle (ICV and LCV) segments. With minimal exposure in the bus segment and a modest 3% market share in >3.5T CVs, this move is structured to unlock operational synergies, enhance platform capabilities, and fill existing product portfolio gaps.

Source: Mahindra.com Read The Article

Mahindra & Mahindra’s (M&M agreement to acquire a controlling stake in SML Isuzu comes at a pivotal point in the Indian commercial vehicle (CV) industry, where demand is gradually recovering post-COVID and the LCV and ICV segments are projected to lead growth. The $64,824,000 USD (₹555 crore) investment—targeted via the purchase from Sumitomo Corporation and Isuzu Motors Ltd—positions M&M to double its CV market share from 3% to 6% immediately, with stated ambitions of reaching 10–12% by FY31 and 20% by FY36.

Categories: Commercial Vehicles, Indian Subcontinent, Mergers & Acquisitions

Office: India Office

China Truck Group, Toyota Motor Sign Development Pact

Jack Hao

Last month, China National Heavy Duty Truck Group and Toyota Motor Corporation signed a strategic cooperation agreement to develop hydrogen powered commercial vehicles.

China is a market with great potential for the promotion and popularization of hydrogen energy, and long-haul heavy-duty logistics vehicles are an important application scenario that highly matches hydrogen energy.

Toyota Motor Corporation possesses world-leading hydrogen fuel cell technology, and China National Heavy Duty Truck Group is a leading enterprise in China’s commercial vehicle industry. The hydrogen fuel cell tractor jointly developed by the two parties has already been delivered to the market in batches.

Categories: Alternative Power, Commercial Vehicles, Greater China, Hydrogen, Partnerships, Production

Office: China Office

Komatsu Reports $650 Million USD Impact of US Tariffs

Akihiro Komuro

Komatsu announced that its consolidated net income for the fiscal year ending March 2026 is expected to decrease by 30% year on year to 309 billion yen. This is lower than the market forecast of 403 billion yen. The U.S. administration’s tariff policy will have a negative impact of $650 Million USD (94.3 billion yen). The exchange rate assumption of 1 yen = 135 yen (compared with 152.8 yen in the previous fiscal year) is also a factor, as it reflects an appreciation of the yen by approximately 8 yen compared with the current market rate.

Of the 943 billion yen, 785 billion yen is attributable to increased production costs due to tariffs, and 158 billion yen is attributable to a decrease in sales volume due to reduced demand.

Categories: Economics, Financial, Japan, Tariff

Office: Japan Office

Japan Engine Conducts Final Tests on Ammonia Marine Engine

Akihiro Komuro

Japan Engine Corporation, a manufacturer of marine engines, says it has begun final testing of a new engine that uses a fuel mixture of ammonia and heavy fuel oil. The testing involves running the engine alone in a factory to confirm safety and to check for abnormal behavior. Testing is expected to be completed by September, with production planned to begin in October.

The large, low-speed marine engine developed by the company can burn up to 95% ammonia (by heat ratio) mixed with heavy fuel oil. The engine used in this trial will be installed in an ammonia carrier ship currently under development with Nippon Yusen and others. The ship is expected to be completed in fiscal 2026.

Categories: Alternative Power, Japan, Production

Office: Japan Office

KTM Grapples with Restructuring Efforts

Emiliano Marzoli

The KTM Group, under the parent company Pierer Mobility AG, is currently navigating significant financial headwinds. Late November 2024 saw KTM AG enter a 90-day period of self-administration, a form of insolvency protection, burdened by approximately €3 billion in debt.

This move initiated a critical restructuring phase aimed at stabilizing the company’s financial position. A key milestone was reached in late February 2025 when creditors approved KTM’s restructuring plan, agreeing to a 30% debt repayment by May 23, 2025. This agreement hinged on KTM successfully raising €600 million by this crucial deadline, leading to an active search for potential investors.

Categories: Europe, Financial, Recreational Products

Office: Europe Office

2025-05-24

Layoffs Begin in the North American Truck Segment

Chris Fisher

Both Volvo and International Truck have initiated layoffs this year due to sluggish orders and high production capacity in preparation for a potential 2026 truck pre-buy ahead of the phase 3 GHG Emission Regulations scheduled for implementation in 2027.

Volvo Trucks North America plans to lay off up to another 350 workers from a Virginia plant as part of job cuts affecting up to 980 employees across the country since the beginning of the year.

Employees at the New River Valley plant in Dublin, Virginia, were notified of the workforce reduction this month, and their last day at the facility will be June 27, Volvo spokesperson Janie Coley said.

Categories: Commercial Vehicles, Economics, Legislation, North America, Tariff

Office: United States Offices

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