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XCMG To Invest US$ 55 Million in Brazil Electric Truck Plant
BRAZIL/SOUTH AMERICA REPORT
Fabio Ferraresi XCMG has signed a letter of intent to invest in Pouso Alegre, in the south of the state. XCMG also plans to invest in the creation of a research and development center in the state.
Source: Brazil Mineral Read The Article
PSR Analysis: The letter of intent reaffirms the intention of XCMG to gain market share in Brazil, not only on the Off Highway Electric Truck segment, but also in Brazil’s On Highway Truck segment they entered…
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Vehicle Production in Brazil Stagnates
During the first 10 months of 2023, Brazilian On Highway Vehicle production faced challenges, with an increase in imports of approximately 58,000 units from January to October and a simultaneous drop in exports by more than 52,000 vehicles. The outcome was a stagnation in production, as only 1,950,000 passenger cars, Minivans and SUVs, light commercial vehicles, trucks, and bus chassis were produced. This marked a decrease of 0.6%, equivalent to almost 12,000 vehicles, compared to the same period in 2022, as reported by Anfavea on Nov. 8, 2023.
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Brazilian Marcopolo OKs Fuel Cell bus in Europe
With a capacity of 53 passengers, Marcopolo’s model, the Audace Fuel Cell, is a road unit. The version of the product made in China that has been exhibited and already approved for Europe, carries the cylinders in the luggage rack. Kent Phang, the Sales Director of Allenbus, partner of Marcopolo on the FC vehicle, says there is also an option to place the hydrogen cylinders over the body. With four cylinders, the vehicle exceeds 500 kilometers, according to the company. With six cylinders it is possible to reach 900 kilometers.
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VW Announces Pickup Truck To Fight with Fiat Toro
Volkswagen has announced plans to introduce a pickup truck at its São José dos Pinhais plant in Paraná, Brazil, currently dedicated to assembling the T-Cross SUV. This new model, referred to internally as Project Udara, is part of the automaker’s €1 billion investment cycle in the country extending until 2028.
In addition to the pickup, the investment includes the development of two flex-hybrid vehicles, a new SUV, and a new engine, slated for production at the Brazilian assembly lines in São Bernardo do Campo and São Carlos.
The forthcoming pickup, larger than the existing Saveiro model produced in São Bernardo do Campo, is expected to feature a flex-fuel engine, with potential hybrid variants. Project Udara is set to be constructed on the MQB platform, and its launch is expected in early 2026.
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2023 NA Production: Graders
A Grader is a piece of heavy equipment used to level or smooth roads or other surfaces. Also referred to as a Road Grader or a Motor Grader.
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Outboard Marine Engine Market Hits $5.5 Billion
GLOBAL REPORT
The global Outboard Marine Engine Market size is estimated at $5.54 billion in 2023, and is expected to reach $8.99 billion by 2035, growing at a CAGR of 4.1% during the forecast period, according to research by Power Systems Research.
The COVID-19 outbreak significantly impacted the boat manufacturing industry and caused a decline in recreational activities worldwide, which hurt outboard motor sales. However, in 2021, the market regained momentum due to the easing of restrictions. The market is expected to register healthy growth in the coming years.
There are generally three types of boat drives including inboard, outboard, and sterndrive. One obvious distinction among them is their placement of motor in the boat.
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Transitioning from ICE Buses to Zero-Emission Engines
NORTH AMERICA REPORT
Chris Fisher During the past few months, we have seen significant changes in the bus market in Europe and North America as operations convert from internal combustion engines to zero-emission buses.
In Europe, Scania and Volvo are moving from building complete buses to a chassis only build. The high cost of zero-emission buses and a competitive market are primary reasons for this. The expected growth of zero-emission buses is forcing the OEMs to better streamline operations, and we expect to see other large OEMs transition down this path.
Source: AMS
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Kubota and Sumitomo Plan Mutual Supply of Equipment
JAPAN REPORT
Akihiro Komuro Kubota Corporation and Sumitomo Construction Machinery Co., Ltd. said they have begun discussions regarding the mutual supply of construction equipment.
Internationally, the growing demand for housing and the expected increase in construction work related to infrastructure investment and urban development, plus the increasing shortage of construction labor, are expected to create strong demand for construction equipment to improve efficiency and reduce labor requirements.
Kubota develops, manufactures, and sells small construction equipment used in urban construction, while Sumitomo Construction Machinery specializes in medium and large construction equipment used in a wide range of civil engineering and forestry work.
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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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China Auto OEM To Invest in Thai EV Motorbike Plant
THAILAND REPORT
Chinese automotive equipment manufacturer Suzhou Harmontronics Automation Technology plans to build an electric motorcycle factory in Thailand’s Eastern Economic Corridor (EEC), eyeing a market set to grow, thanks to government subsidies.
The company plans to invest $281 million (10 billion baht) to secure annual production capacity of 150,000 units by 2028. The plans were revealed by the office of the EEC.
Suzhou Harmontronics will build the factory at an industrial park in Chonburi Province, within the EEC zone, and will assemble electric motorcycles and manufacturing replaceable batteries and charging equipment at the facility. A start date for operations was not disclosed.
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