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Frasle Mobility To Buy Mexican Kuo’s Dacomsa for $389 Million
Fabio Ferraresi Brazilian auto parts producer Frasle Mobility said (July 8, 2024) it has agreed to buy Mexican auto spare parts distributor Dacomsa from Mexico’s Grupo Kuo S.A.B de C.V. for 2.1 billion reais ($389.5 million).
With the deal, Frasle Mobility, formerly known as Fras-le, said it would also acquire the Dacomsa-owned Kuo Motor and Fritec firms, as well as some tangible and intangibles assets related to those companies, according to a securities filing.
Frasle Mobility also expects to earn some 300 million reais with synergies to be generated from the deal – as measured by earnings before interest, taxes, depreciation and amortization (EBITDA) – in a five-year period, a presentation by the firm showed.
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Brazil Truck Production Grows Significantly
BRAZIL/SOUTH AMERICA REPORT
Brazil truck production reached almost 64,40 units in the first half of this year, an increase of 36.5% over the same period in 2023
In June, 12,200 trucks were manufactured, a 74.1% increase compared to the same period last year.
Heavy truck sales also grew. In the first six months of this year, 56,800 trucks were sold, an increase of 8%. Last month, 10,000 trucks were sold, a 26.6% increase compared to June 2023.
Source: Automotive Business Read The A…
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Hitachi Demonstrates Ultra-Large Electric Dump Truck
JAPAN REPORT
By Akihiro Komuro, Research Analyst, Far East and Southeast Asia
Akihiro Komuro Hitachi Construction Machinery said it is demonstrating a rechargeable all-electric dump truck at a mine in Zambia. It’s the world’s first demonstration of an ultra-large machine with a payload capacity of 200 tons.
Operating conditions and battery life will be verified over a one-year period. The original plan was to have the system in operation by the end of 2024, but the company now plans to launch it in 2025 or later.
The overhead wires will be installed along the mine’s route and the battery will be recharged as it travels along the route. This system allows for more efficient operation than recharging at stops. The batteries mounted on the vehicle body will also be lighter, increasing the payload capacity of the dump truck.
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LG, Hyundai Open Indonesia EV Battery Plant
SOUTH KOREA REPORT
South Korean battery giants LG Energy Solutions and Hyundai Motor have opened their first battery plant in Indonesia. The plant will produce batteries for electric vehicles to be sold locally and in neighboring countries. Indonesian President Joko made the announcement at a ceremony held July 3 in the Karawang region near the capital, Jakarta, to mark the opening of the new plant.
The investment is $1.2 billion, split 50-50 between LG Energy and Hyundai Motor. The annual battery…
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Honda To Cut Thai Car Production
THAILAND REPORT
Honda said it plans to integrate its two automotive manufacturing plants in Thailand by 2025. The move will cut annual production capacity in Thailand by 50% to 270,000 units.
Production at the Ayutthaya plant will be discontinued and consolidated at the Prachinburi plant in central Thailand. The Ayutthaya plant has an annual production capacity of 150,000 units. Honda’s total production capacity in Thailand is 270,000 units, but there was a surplus of 147,000 units in 2011. The company will improve the profitability of its four-wheel business by reducing fixed costs. The Ayutthaya plant will continue to be used as an auto parts plant.
Source: The Nikkei
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Chinese Joint Venture Begins Mississippi Battery Plant
CHINA REPORT
Jack Hao ACT Company (AMPLIFY CELL TECHNOLOGIES LLC ), a Chinese a joint venture company, has broken ground for a battery production plant in Mississippi.
ACT Company was established by EVE Energy’s wholly owned subsidiary EVE Energy US, Cummins, Daimler Trucks, and Paccar. The joint venture will produce prismatic lithium iron phosphate batteries, mainly for designated North American commercial vehicle applications. It will have an annual production capacity of about 21GWh and will provide more than 2,000 local jobs.
The project is expected to start shipping in 2026, and the three foreign enterprises and their affiliates will become the main customers, purchasing most of the products from the factory.
ACT Company is the first project of EVE Energy’s CLS model, aiming to enhance the flexibility and competitiveness in the global cooperation process, and to work with more partners to jointly promote sustainable development. The successful beginning of this project marks the entry of EVE Energy into a new stage of global development.
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Honda To Cut Thai Car Production
THAILAND REPORT
Akihiro Komuro Honda said it plans to integrate its two automotive manufacturing plants in Thailand by 2025. The move will cut annual production capacity in Thailand by 50% to 270,000 units.
Production at the Ayutthaya plant will be discontinued and consolidated at the Prachinburi plant in central Thailand. The Ayutthaya plant has an annual production capacity of 150,000 units. Honda's total production capacity in Thailand is 270,000 units, but there was a surplus of 147,000 units in…
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Bajaj, TVS Enter CNG Two-Wheeler Market
INDIA REPORT
Aditya Kondejkar
Bajaj Auto has recently launched the Freedom 125, the world’s first CNG-powered two-wheeler, generating significant buzz in the Indian market. This innovative move has boosted Bajaj’s market position and also inspired other manufacturers, like TVS, to explore CNG options.The Freedom 125, priced between Rs 95,000 and Rs 1.10 lakh, offers an impressive CNG mileage of 102 km/kg, which appeals to environmentally conscious consumers and those looking for cost-effective fuel alternatives.
Source: CNBCTV18: Read The Article
TVS Motor Company is set to follow Bajaj’s lead by developing the Jupiter 125, which will be the first scooter to feature a factory-fitted CNG (compressed natural gas) kit. Slated for launch early next year, the Jupiter 125 is aimed to compete directly with Bajaj’s Freedom 125, offering similar pricing and dual fuel options.
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Alternative Power Report, July 2024
Canada is preparing to join the tariff war against Chinese EVs, according to a report in the July 2024 issue of the Alternative Power Report prepared by Power Systems Research. Another article in the report notes that even thought EV sales are lagging, they’re positioned for long-term growth. And there’s plenty of battery news in this report prepared by PSR analyst Guy Youngs. PSR
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2024 North America Scooter Production
DATAPOINT REPORT
Scooters/Minibikes/Mopeds are motorized 2-wheeled vehicles used primarily for recreation, although they are used for primary transportation in many cases.
It’s important to note that Go-Ped manufactures stand-on scooters.
This product information comes from industry interviews and from two proprietary databases…
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