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IHS Markit: global commercial vehicle production to drop 22% in 2020 in wake of COVID-19

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IHS Markit is forecasting that global commercial vehicle production (GVW 4-8) volumes in 2020 compared to 2019 will be down 22% (more than 650,000 units) to 2.6 These forecasts are informed by the latest IHS Markit global economic forecast updates, which reflect a 3.0% decline in global real GDP in 2020.

2020 191
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Hyundai and Kia make €100M strategic investment in Arrival to co-develop electric commercial vehicles

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The partnership with Arrival will help Hyundai and Kia meet the rapidly growing demand in Europe for eco-friendly commercial vehicles, and accelerate the brands’ transformation from car makers to clean-mobility providers. With the rapid global growth in online shopping, the volume of light commercial vehicles in urban areas has increased.

Kia 259
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BloombergNEF: electrics to take 57% of global passenger car sales, 81% of municipal bus sales by 2040

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BloombergNEF (BNEF) is out with an aggressive forecast that projects electric vehicles taking up 57% of the global passenger car sales by 2040—slightly higher than it forecast a year ago—and electric buses with 81% of municipal bus sales by the same date. Their use case will mostly be in shorter-distance applications.

Sale 341
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UCL-led study finds climate impact caused by growing space industry needs urgent mitigation

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Global revenue generated from this industry is forecast to grow from 350 million USD in 2019 to more than 1 trillion USD by 2040 (Morgan Stanley, 2020). In 2021, commercial space flights by Virgin Galactic, Blue Origin, and SpaceX demonstrated that space tourism is plausible, though the scale of this nascent industry is uncertain.

Climate 428
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HIF Global, Porsche and Volkswagen Group unveil new direct air capture unit to be installed at eFuels plant in Chile in 2024

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At the IAA Summit in Munich, HIF Global, together with Porsche AG, Volkswagen Group Innovation and MAN Energy Solutions, announced the development and installation of a Direct Air Capture (DAC) unit at the HIF Haru Oni Demonstration facility in southern Chile in 2024. Earlier post.) Why not combine the two? Earlier post.)

Chile 195
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Cummins and Isuzu announce global mid-range diesel powertrain and advanced engineering collaboration

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and Isuzu Motors Limited announced agreements for a global mid-range diesel powertrain and an advanced engineering collaboration, marking another step forward in the Isuzu Cummins Powertrain Partnership (ICPP). Under this global mid-range diesel collaboration agreement, Cummins will provide Isuzu mid-range B6.7 Cummins Inc.

Isuzu 170
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Forecast: global 3-wheeler market to grow at CAGR of 13% through 2019

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The value of the global three-wheeler market will grow at a compound annual growth rate (CAGR) of 13% during 2014-19, according to a recently published report by TechSci Research, “Global Three Wheeler Market Forecast and Opportunities, 2019”. cannot effectively penetrate. —Karan Chechi, Research Director.

2019 231