Search Results for: electric-class-8-truck-promises-2000-hp-1200-miles

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»

2023-11-16

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.

Read More»

2024-02-27

Hyundai Shifts EV Plans, Introduces Genesis Hybrid

SOUTH KOREA REPORT

Hyundai Motor Company is developing a hybrid vehicle for its Genesis luxury brand. The company had planned to focus on EVs and FCVs for the Genesis, which will be launched after 2025. The recent slowdown in the growth of the EV market has forced the company to change its strategy.

According to industry insiders, Hyundai Motor is developing a hybrid engine and related systems for the Genesis, which is expected to be launched in 2025. Hybrid models will be added to the mainstream GV80 and GV70 models. The company plans to expand its HV lineup under the Hyundai Motor and Kia brands as well, having decided to introduce HVs under its luxury car brands due to the risk of slumping sales if it continues to shift more toward EVs. Hyundai Motor’s HV sales in 2023 were up 53% from the previous year to approximately 380,000 units.

Read More»

PowerTALK™, April 2024

Get the current PowerTALK

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