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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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PowerTALK™, November 2023

EV activity continues to increase across the globe as reported in the November issue of PowerTALK News. This issue features EV reports from China, Japan, North America, Brazil, South Korea and Thailand.

PowerTALK Nov 2023Download
IN THIS ISSUE

ALTERNATIVE POWER REPORT

  • China Discovers Unique Battery Material
  • Toyota Joins Race To Mass Produce Solid-State Batteries
  • Could Toyota’s Ammonia Engine Bring the End of EVs?
  • White Hydrogen Could Reduce Decarbonization

GLOBAL: Outboard Marine Engine Market Hits $5.5 Billion
NORTH AMERICA: Transitioning from ICE Buses to Zero-Emission Engines
DATAPOINT: NA Graders      
BRAZIL/SOUTH AMERICA:

  • XCMG To Invest US$ 55 Million in Brazil Electric Truck Plant
  • Vehicle Production in Brazil Stagnates
  • Brazilian Marcopolo Approves its Fuel Cell Bus in Europe
  • VW Announces Pickup Truck To Fight with Fiat Toro

JAPAN: Kubota and Sumitomo Plan Mutual Supply of Equipment
SOUTH KOREA: Hyundai Sells EVs To Oil-Producing Countries
THAILAND:  China Auto Manufacturer To Invest in Thai EV Motorbike Plant
CHINA: Weichai-BYD JV Begins 56 Billion Yuan, 50GWh Battery Project
INDIA: Construction Equipment Sector Poised for Substantial Growth

2024-01-22

Recharging Slows Electrification of HD Trucks

CHINA REPORT
Jack Hao
Jack Hao

In 2022, the penetration rate of new energy units in the commercial vehicle market exceeded 10%, and the penetration rate of heavy-duty trucks was close to 5%. The new energy subsidy policy was scheduled to be withdrawn at the end of 2023, but data for the January to October period is basically the same as the previous year. The share of new energy units for the commercial vehicle segment is far lower than the market share of 30.4% for new energy passenger vehicles.

With the accelerated adjustment of China’s transportation structure, it is expected that by 2025, the national railway and water freight volume will increase by 10% and 12%, respectively, compared to 2020, while the road freight volume will relatively decrease. In this context, bulk and ultra long-distance road transportation will gradually exit the market, and the advantages of short and point-to-point road trunk transportation with radii of around 500 kilometers and 300 kilometers will be further highlighted.

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2024-03-17

Car OEMs Announce US$ 14.3 Billion Investment in Brazil

BRAZIL/SOUTH AMERICA REPORT 
Fabio Ferraresi
Fabio Ferraresi

In the past three months, the aggregate investments announced by automotive manufacturers in Brazil have reached a total of US$ 14.3 billion. The largest individual investment came from Stellantis, committing US$ 6 billion to the country between 2025 and 2030, marking a record sum among major vehicle manufacturers operating within the nation. A significant portion of this investment will be directed towards the development of flex-hybrid models.

This investment influx began in December, with Renault earmarking US$ 500 million for the production of a new SUV in Paraná, featuring engine variants that blend ethanol, gasoline, and electricity. In January this year, General Motors (GM) unveiled investments totaling US$ 1.4 billion aimed at product rejuvenation.

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