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Volvo To Launch Hydrogen Powered Trucks
GLOBAL REPORT
Chris Fisher Volvo has announced plans to begin on-road testing of trucks equipped with hydrogen powered internal combustion engines starting in 2026 with the commercial launch planned towards the end of this decade. Trucks that run on green hydrogen provide a significant step for Volvo to achieve its net zero goal and support customers to reach their decarbonization targets.
Trucks that run on green hydrogen instead of fossil fuels provide one way to decarbonize transport. Hydrogen trucks will be especially suitable over longer distances and in regions where there is limited charging infrastructure, or time for, recharging of batteries.
The hydrogen-powered combustion engine trucks will complement Volvo’s offering of other alternatives, such as battery electric trucks, fuel cell electric trucks and trucks that run on renewable fuels, like biogas and HVO (Hydrotreated Vegetable Oil).
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2023 Global E-Bike Market Hit US$38.3 Billion
Michael Aistrup The E-bike market size was estimated at USD 38.3 billion in 2023 and is forecast by Power Systems Research to increase to $97.3 B in 2033 with a CAGR of 9.77% between 2024 and 2033. Cities globally are investing in dedicated bike lanes, charging stations, and bike-sharing initiatives for facilitating easier e-bike usage. Moreover, consumers are drawn to the substantial cost savings offered by electric solutions compared to conventional vehicles.
E-Bike Market Trends. Several important technological trends have boosted the production and sales of e-bikes.
- Battery Technology. Improved batteries provide lighter weight, lower cost, longer range and quicker charging times.
- Smart features, such as GPS navigation, app connectivity, and digital displays enhance the user experience, making e-bikes more appealing and user-friendly.
- Shared micro-mobility is part of the public transportation ecosystem. As a flexible transportation option with comparatively low overhead and operation costs, shared micro-mobility can complement higher-volume fixed-route transit services by offering mobility services for many trips at a lower per-traveler cost.
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Electric Boats at 2024 Cannes Show
SHOW REPORT
For more information on the marine market, visit MarineLink, the Power Systems Research proprietary marine products database.
More than 600 exhibitors from the marine pleasure industry showed off their latest models of boats, yachts, marine equipment and other products and services at the 47th annual Cannes Yachting Festival, Europe’s biggest in-water event, just closed its doors. The event ran Sept. 10-15.
An estimated 50,000 visitors attended the festival and got an excellent note for organization from all participants and visitors. The next year’s edition will be held Sept. 9-14, 2025.
The electric marine market has been very dynamic in the last 10 years and electric products and accessories were very popular at the show. Investments in research and development of new technologies and their implementation into boats have been extremely high.
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Tata Negotiates for Production Plant in Brazil
BRAZIL/SOUTH AMERICA REPORT
Fabio Ferraresi The São Paulo state government is working to attract the attention of automotive companies to the state, including Tata Motors, a subsidiary of the giant Indian-based Tata Group.
Tata’s staff has been in Brazil since the end of August 2024 and they will meet São Paulo government again in Germany by the end of September.
The secretary of Government, Jorge Lima, also revealed negotiations with a Chinese auto parts manufacturers for a factory in the state. The…
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Colombia Resumes Taxing Vehicles from Brazil
BRAZIL/SOUTH AMERICA REPORT
Starting in 2025, vehicle exports from Brazil to Colombia will once again be taxed at a 54% rate. The tax exemption agreement, in place since 2017, will not be renewed. According to the Colombian government, this decision is designed to protect its local automotive industry, currently dominated by Renault. This is a setback for Brazilian manufacturers, who exported fewer vehicles in 2024, with a 30% drop compared to the previous year.
Source: Automotive Business …
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Malaysia H1 2024 Car Sales Gain Ground
MALAYSIA REPORT
Akihiro Komuro New vehicle sales in the six major Southeast Asian countries in the first six months of 2024 fell 9% year-on-year to about 1.49 million units, the lowest level since 2021, when they were battered by COVID-19. Malaysia, which has benefited from strong domestic demand, is closing in on Indonesia, the largest market in the region.
Malaysia grew by 7% to 390,296 units. Sales growth was driven by strong domestic demand linked to economic growth. Sales of domestically produced small cars such as the Proton and Produa were particularly strong. In contrast, sales in Indonesia, the region’s largest market, fell 19% to 408,012 units due to a decline in the use of car loans and other factors caused by high policy interest rates. Thailand was down 24% to 308,027 units; Vietnam was down 2% to 134,884 units and the Philippines was up 10% to 227,225 units.
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Yanmar Acquires CLAAS, India Combine Manufacturer
JAPAN REPORT
Yanmar Holdings announced Aug. 26, 2024, that it will acquire Claas India, a combine harvester and manufacturer in India, and will acquire all its shares Sept. 30, 2024. The amount of the acquisition was not disclosed. The company has been importing and selling combines from outside India but will now start local production. The acquisition will strengthen the company’s business in India, where the market is expanding. Following the acquisition, CLAAS India’s combine harvesters will be produced and sold under the Yanmar brand.
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Hyundai To Double Number of Hybrid Models
SOUTH KOREA REPORT
Hyundai Motor in August announced plans to expand its lineup of hybrid vehicles from seven to 14 models in response to slowing global demand for electric vehicles. The company will also use HVs for the first time in its Genesis luxury car brand. The company also announced plans to increase its annual global sales volume by 30% from 2023 to 5.55 million units by 2030, and to invest 120.5 trillion won (about 13 trillion yen) in R&D and capital investment over the 10 years out to 2033. The company will focus on advanced technologies such as next-generation HVs, in-vehicle batteries and automated driving technology.
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Yuchai, Kim Long Motor Vietnam Sign Agreement
CHINA REPORT
Jack Hao Following the opening of Yuchai’s Thailand factory, Guangxi Yuchai Machinery Co., Ltd. (Yuchai) and Kim Long Motor Hue Joint Stock Company, a subsidiary of Vietnam’s FUTA Group (Kim Long Motor), have signed a comprehensive strategic cooperation agreement in Vietnam. The two parties have jointly initiated the construction of an engine factory with a total investment of $260 million.
The engine factory, a collaboration between Yuchai Machinery Co., Ltd. and Kim Long Motor Hue, a subsidiary of Vietnam’s FUTA Group, will be invested in two phases, with the first phase expected to commence production in the second quarter of 2025. The factory will be equipped with a globally leading, highly automated engine assembly line, primarily producing Yuchai’s full range of diesel and natural gas engines for applications in commercial vehicles, engineering machinery, agricultural machinery, ships, power generation, and more, with an annual production capacity exceeding 12,000 units.
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Rural Recovery Drives Surge in Auto Demand
INDIA REPORT
Aditya Kondejkar The upcoming festive season presents a promising outlook for India’s automobile sector, with expectations of significant growth, particularly in the two-wheeler (2W) segment. A projected increase of over 15% in the sector reflects heightened consumer interest, fueled largely by a recovering rural economy.
Rural areas, which contribute more than half of two-wheeler demand, are showing early signs of post-COVID recovery. The rise in customer inquiries, especially for mass-market brands like TVS Motors, Hero MotoCorp, and Bajaj Auto, suggests a favorable trend for the festive season.
The launch of new two-wheeler models, such as the TVS Jupiter and Hero Xtreme 125R, is likely to further drive sales. However, premium motorcycle manufacturers like Eicher Motors, producing Royal Enfield, may not experience the same robust demand due to a different target demographic, where rural recovery has less impact.
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