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The growing popularity of powersports is expected to provide many new opportunities ln this rapidly growing market. Some of the trends fueling this long-term growth potential are:
Growing/changing market for utility-terrain vehicles (UTVs).
Technological advancements through improved durability and adaptability to UTV’s, ensure greater enjoyment for UTV riders.
Industry-leading companies will continue to focus on increased product range and rigorous R&D initiatives to strengthen their market standing.
Foxconn, Taiwan’s leading electronics contract manufacturer, has received regulatory approval for its plan to invest $246 million in two new projects in Quang Ninh Province in northern Vietnam. The projects, to be carried out by a subsidiary of Foxconn Singapore, will focus on the manufacturing and assembly of telecommunications equipment and electric vehicle components.
This will bring Foxconn’s total investment in Vietnam to approximately $3 billion. Of the new investment, $200 million will be invested in a factory to produce EV chargers and components, which is expected to begin production in January 2025 and employ an estimated 1,200 workers.
Gerdau, Vamos and Volkswagen Caminhões have formed a partnership to support the national fleet renewal program, aimed at removing from roads vehicles more than 20 years old.
The fleet renewal program provides for the purchase of low emission and more efficient vehicles by self-employed drivers and other operations. Under the plan, 140 acquired vehicles were sent to Gerdau’s headquarters in Araçariguama, which is responsible for their destruction and recycling.
At the same time, an extension for the incentives program of up to 1 Billion Reais, (US$ 200 M) was announced.
PSR Analysis: The total of resources and mechanisms to allow the access to the resources still are not sufficient for the program to impact the market significantly. However, the small inroads demonstrate the desire of Government and private entities to make changes and should impact the market going forward. More deployments and adjustments in the program should come in the medium term. We will keep monitoring and adjusting our short-medium term forecast as it progresses. PSR
Fabio Ferraresi is Director-Business Development South Americafor Power Systems Research
Volkswagen has announced plans to introduce a pickup truck at its São José dos Pinhais plant in Paraná, Brazil, currently dedicated to assembling the T-Cross SUV. This new model, referred to internally as Project Udara, is part of the automaker’s €1 billion investment cycle in the country extending until 2028.
In addition to the pickup, the investment includes the development of two flex-hybrid vehicles, a new SUV, and a new engine, slated for production at the Brazilian assembly lines in São Bernardo do Campo and São Carlos.
The forthcoming pickup, larger than the existing Saveiro model produced in São Bernardo do Campo, is expected to feature a flex-fuel engine, with potential hybrid variants. Project Udara is set to be constructed on the MQB platform, and its launch is expected in early 2026.
Rolls Royce Power Systems Business Unit, based in Friedrichshafen, Germany, reported sales of EUR 4.56 billion in fiscal 2023, a 16% increase over 2022. Operating profit hit 10.2%, up from 8.4% in 2022.
The operating profit increase is due to the investments in transformation and process optimization, implementation of a new commercial policy, better cost, and stock management.
Strong demand for standby power generation especially for data centers, implementation of the “From bridge to the propeller” strategy for large yachts, and development of an energy storage systems in Europe integrating renewable energies into the Duch public grid have contributed significantly to the revenue growth.
The South Korean government announced a plan for a semiconductor industrial park in which Samsung Electronics and SK Hynix will invest a total of 622 trillion won (approx. $470 Billion). With Japan and Taiwan aggressively investing in the semiconductor industry, the government aims to compete with them by establishing the world’s largest base and stabilizing the supply of semiconductors to Korea.
According to the plan announced by the government, Samsung Electronics and SK Hynix plan to invest 500 trillion won and 122 trillion won, respectively, by 2047. In addition to the existing 21 factories, 13 new semiconductor factories and 3 research facilities will be built. The semiconductor industrial park, which stretches from Pyeongtaek to Yongming, is expected to become the world’s largest manufacturing base with a monthly production capacity of 7.7 million wafers by 2030.
In the March 2024 issue of PowerTALK News you’ll find two articles describing changes at Van Hool, the Belgian bus manufacturer, as it struggles to meet EV competition. Another EV article describes possible EU tariffs on Chinese EV imports. You can also read an update on EV battery technology from Michael Aistrup as well as a report on the record sales performance in 2023 by Rolls Royce power systems business unit by Natasa Mulahalilovic, Finance and Admin. Manager – Europe.
IN THIS ISSUE
ALTERNATIVE POWER REPORT:
Germany Drops Subsidies for Electric Semi-trucks and Buses
Lithium-Air EV Batteries Tapped For Net Zero Economy of The Future
Why Are Hydrogen Fuel Cells So Expensive?
Europe May Slap Retroactive Tariffs on Chinese EVs
Car OEMs Announce US$ 14.3 Billion Investment in Brazil
AG and CE Segments Poised for Substantial Growth in Brazil
JAPAN: Kubota Plans To Produce Batteries for EV AG Equipment SOUTH KOREA: SK Plans World’s Largest Semiconductor Manufacturing Base CHINA: Electrification of Construction Machinery Industry Accelerates INDIA: EV Market Provides Opportunities and Challenges
The April 2024 issue of PowerTALK News presents another excellent report by analyst Guy Youngs on Alternate Power sources, an update on the OEM Van Hool, John Deere’s aggressive plans for expansion in Brazil, and an analysis of the market strategies being developed by two OEMs in the India market.
IN THIS ISSUE
ALTERNATIVE POWER REPORT
Are Sodium Ion Batteries Viable Alternative to Lithium?
New Hydrogen Colors to Watch in 2024 and Why They Matter
Study Shows Plug-in Hybrids Aren’t as Clean as We Thought
CATL, Yutong Launch Long-life EV Battery
GLOBAL: Lawn and Garden Equipment Market
DATAPOINT: North America Plate Compactor Production
EUROPE: A New Path for Van Hool BRAZIL/SOUTH AMERICA:
John Deere Announces New Investments in Brazil
Volvo To Begin Testing Heavy Trucks
JAPAN: Kubota Unveils First Fuel Cell Tractor CHINA: VW To Inject € 2.5 billion into its Hefei Base INDIA: Two EV Strategies for India Market
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