Search Results for: future-electrification

2023-09-16

Korean Battery Companies Increase Sales Significantly

FAR EAST: SOUTH KOREA REPORT

The consolidated financial results for the April-June period of the three major Korean battery companies show significant sales growth. LG Energy Solution’s sales grew 73% y/y and operating profit was 2.4x y/y. SK On’s sales grew 2.9x y/y due to the expansion of EV production. Samsung SDI’s sales grew 23% y/y.

LG Energy, the world’s second largest automotive battery maker, posted a 73% y/y increase in sales to KRW 8.774 trillion (approximately $6.6 billion) and a 2.4x y/y increase in operating profit to KRW 461 billion (approximately $340 million), while its joint production with GM of the U.S., which will begin operations in 2022, also contributed to the continued growth in sales and profit.

Read More»

2023-10-24

Brazil To Become Hub for EV Bus Chassis Production

BRAZIL/SOUTH AMERICA REPORT 
Fabio Ferraresi
Fabio Ferraresi

Mercedes is exhibiting its electric bus chassis eO500U at Busworld in Brussels targeting other markets where the body is assembled over the bus chassis. Traditionally, the exports of Mercedes from Brazil are over 50% of the total production and it targets to expand this percentage with the new BEV, that has WEG drives, BorgWarner batteries assembled in Brazil with imported battery supplies.

Source: Valor Economico     Read The Article

PSR Analysis: While the push from São Paulo city to buy only BEV buses in the near future jeopardizes current chassis manufacturers business, it boos the development of BEV chassis and allow exports to other countries. Mercedes runs against the clock to compete with players like BYD and Higher with BEV chassis already developed.   PSR

Fabio Ferraresi is Director-Business Development South America for Power Systems Research

2024-01-22

Thailand Lithium Deposit World’s Third Largest

THAILAND REPORT
Akihiro Komuro
Akihiro Komuro

The Thai government has announced the discovery of a large lithium deposit, calling the deposit the third largest in the world after Bolivia and Argentina. It has estimated reserves of approximately 14.8 million tons. The deposit was found at two sites in the southern province of Phang Nga. However, it will take some time to find out how much of the discovered resources can be used.

Thailand is keen to become the center of EV production in Southeast Asia, leveraging its experience in assembling conventional cars, and the discovery of the lithium deposit will give the country a boost in achieving this goal.

Source: AFPBB

Read More»

Toyota and Chiyoda Develop Hydrogen Production System

JAPAN REPORT
Akihiro Komuro
Akihiro Komuro

Toyota Motor Corporation and Chiyoda Corporation have announced the joint development of a hydrogen production system. The two companies plan to begin demonstration tests at Toyota’s main plant in fiscal 2025 and hope to begin marketing the system around fiscal 2027.

The system will produce hydrogen by electrolyzing water. It will have an output of about 5 megawatts and will be able to produce about 100 kilograms of hydrogen per hour. The new plant has a footprint of 6 meters wide by 2.5 meters deep, about half the size of a typical plant. By linking multiple plants, the production volume can be significantly increased.

Read More»