Search Results for: concrete-asia-be-held-intermat-asean

2023-07-26

OEMs Target India’s Premium MC Segment

INDIA REPORT
Aditya Kondejkar

The dominance of Royal Enfield in the mid-segment of the premium motorcycle market (300cc-500cc) could be facing challenges from upcoming products. The Triumph Speed 400, a result of a joint development effort between Triumph and Bajaj Auto, and the Harley-Davidson X440, developed through a collaboration between Hero MotoCorp and Harley Davidson, are set to compete in this market segment.

In response, Royal Enfield plans to introduce three new models in the 350-450cc range within the next year.

The Indian motorcycle market has witnessed a favorable trend towards high-end bikes. The phenomenon of premiumization has gained momentum due to increasing income levels, a growing young population, shifting preferences, and a surge in product launches.

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Hyundai China Sales Drop 77% in Six Years

FAR EAST: SOUTH KOREA REPORT

South Korea’s Hyundai Motor has announced that it will sell two plants in China. Beijing Hyundai, a joint venture with China’s state-owned auto giant Beijing Automotive Group, will reduce the number of plants in operation to two. Sluggish sales in the Chinese market have prompted the company to make structural reforms.

Hyundai Motor’s sales in China were 260,000 units in 2022; in 2016 it sold 1.13 million units, a 77% decline in six years.

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Honda Forced To Reduce Car Features

FAR EAST: JAPAN REPORT
Akihiro Komuro
Akihiro Komuro

Honda will sell some of its new vehicles without a function that detects vehicles in the blind spot and warns the driver, saying the dedicated semiconductors required for this function have been in short supply.

To solve the situation where it takes about a year from order receipt to delivery, Honda will sell the new models with the function reduced so that they can be delivered in about six months.

Sales of the new SUV model “ZR-V” began with a specification that eliminates “Blind Spot Information (BSI),” which alerts the driver by detecting vehicles diagonally behind the vehicle and displaying them in the door mirror. Since the procurement of the necessary in-vehicle semiconductors was not completed in time and the delivery period was expected to be prolonged, the company decided to sell the car without this BSI function. Although it varies by store and model, the time from order to delivery can be reduced by half, from about one year to about six months.

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2023-08-21

Maruti Suzuki Plans India Market Expansion

INDIA REPORT
Aditya Kondejkar

Under Maruti’s 3.0 Strategy, the company proposes to expand annual capacity by 2 million units within nine years, and it plans to feature 28 distinct models by 2031. The automaker aims to reach an annual production volume of more than 4 million vehicles by 2031. Of this total, approximately 15% (about 600,000 units) will be electric vehicles (EVs), and about 1 million will be hybrid units.

This represents a substantial 75% surge from the current production capacity of 2.25 million units.

Foreseeing a threefold increase in export volume to 750,000 units by FY31, Maruti intends to allocate 3.2 million units for the domestic market. The company envisions hybrids and EVs comprising approximately 40% of this portion, translating to over 1.2 million units.

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2023-09-16

Bus Sector Bounces Back: EVs Fuel Post-Covid Growth

Aditya Kondejkar

OEMs increasing their focus on the Bus sector to drive growth in the post-Covid period.

Ashok Leyland. One of India’s leading commercial vehicle manufacturers, Ashok Leyland has announced plans to invest ₹1,000 crore in setting up an integrated commercial vehicle (CV) and electric bus (e-bus) manufacturing plant in Uttar Pradesh. This plant is expected to have a planned production capacity of 2,500 buses annually, with the potential for expansion to 5,000 buses per year.

This significant investment is a strategic move for the company and carries several implications and opportunities. This critical analysis examines the key aspects of this investment decision.

“Contingent on market adoption and demand of alternative fuel vehicles in the state, Ashok Leyland intends to invest up to ₹1,000 crore in this new facility over the next few years,” says Shenu Agarwal, Ashok Leyland MD & CEO.

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Japan Sets Target of 300,000 EV Chargers by 2030

FAR EAST: JAPAN REPORT
Akihiro Komuro
Akihiro Komuro

The Ministry of Economy, Trade and Industry (METI) has released draft guidelines for the installation of EV chargers, with a target of 300,000 units by 2030. This is double the previous target of 150,000 units and 10X higher than the current number of installations. The company is calling for the installation of chargers in commercial facilities.

The draft guidelines also call on operators to improve the speed of charging and the convenience of operation. To achieve decarbonization, the government is pushing to expand the installation of rechargers, which had only about 30,000 units as of March 2023.

The installation target includes 270,000 regular chargers at commercial facilities and 30,000 fast chargers on highways. The introduction of a new charging method called “plug-and-charge” will also be encouraged. This is a system in which vehicles can be authenticated and charged simply by plugging them into the charger; it has been adopted by Tesla in the United States. The system eliminates the need to hold a membership card over the charger or use a smartphone app to authenticate personal information.

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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.

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2023-10-24

Komatsu To Develop Electric Excavator with Honda

FAR EAST: JAPAN REPORT

Komatsu says it will launch the PC05E-1 electric micro excavator, jointly developed with Honda, in the Japanese market in October. In the domestic construction equipment market, where the electrification market has not yet been developed, Komatsu plans to quickly create a market to achieve carbon neutrality by 2050 by introducing a variety of models.

The machine is an expanded version of the PC01E-1 electric micro excavator, which was introduced to the domestic market in March 2022. The current “PC05-1” micro excavator, which is widely used for small civil engineering and construction work as well as gas, electric and plumbing sites, has been electrified by installing the Honda Mobile Power Pack e: or electric power unit (eGX) as a power source, like the “PC01E-1”. Komatsu aims to achieve electrification by FY2023.

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2023-11-16

Construction Equipment Set for Substantial Growth

INDIA REPORT
Aditya Kondejkar

The construction equipment industry anticipates a robust 5-year outlook with a projected 15% year-on-year growth. This optimistic forecast is anchored in the momentum generated by ongoing construction projects and increased infrastructure spending. The government’s substantial allocation of $130.57 billion (Rs 10 lakh crore) underscores its commitment to fortifying this sector.

Moreover, the recognition of the scale and technological prospects within the construction landscape further emphasizes the strategic importance of advancements in this domain.

Source: Times of India:   Read The Article

The construction equipment (CE) sector has undergone significant transformation over the past 2-3 years, marked by major players reaching peak manufacturing capacities and subsequently embarking on expansive growth initiatives.

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Hyundai Sells EVs To Oil-Producing Countries

SOUTH KOREA REPORT

Hyundai Motor Company has started to develop the EV market in the Middle East. The strategy is to get a head start in the market by making large investments. In response to the global movement to reduce carbon dioxide emissions, interest in the EV market is high in the oil-producing countries of the Middle East.

On Oct. 22, 2023, Hyundai Motor Company, which is expanding its business into environmentally friendly hydrogen energy in addition to local vehicle production, signed a joint investment agreement with the Saudi National Fund to establish a semi-finished product assembly plant. The joint venture plant will be built in King Abdullah Economic City and will have an annual production capacity of 50,000 units.

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