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The Reveal Of New Global Electro-mobility Volvo Buses

The Reveal Of New Global Electro-mobility Volvo Buses

Volvo Buses is expanding its electromobility offer worldwide.


With the launch of the new Volvo BZL Electric chassis, Volvo Buses provides a solid platform for sustainable and efficient public transport in cities around the world, along with reliable and profitable operations for customers.

“We are committed to leading the transformation of our industry towards a more sustainable future. With the launch of the new Volvo BZL Electric, our ambition is to offer the world’s most responsible electric bus systems. We do it by focusing on sustainability, safety and reliability,” says Anna Westerberg, President of Volvo Buses.

The global demand for electromobility solutions in the public transport sector is rising and Volvo Buses expects a rapid increase in the coming years.

“With the new Volvo BZL Electric we offer a global platform for clean, silent, and energy-efficient public transport to meet the rising demand on important markets that are ready for the shift to electromobility,” says Anna Westerberg.

Circularity is important

Environmental care is at the heart of Volvo and sustainability, less noise, lower emissions, and reduced CO2 is essential. Volvo Buses has a wider scope than just that.

“We have a lifecycle perspective and take responsibility for the environmental impact of our products, from the cradle to the grave. This means we ensure that materials, manufacturing, operation and recycling meet the highest environmental standards,” says Anna Westerberg.

At Volvo Buses, circularity is important, and the new Volvo BZL Electric has been developed to be over 90 percent recyclable.

Volvo reliability, efficiency and safety

Volvo Buses has years of experience of electromobility solutions from working closely together with operators all over the world. The new Volvo BZL Electric is designed for both single and double decker applications with multiple options for bodybuilders.

“The new Volvo BZL Electric is based on proven and successful technologies already implemented in Europe. All the chassis and driveline components have been developed and manufactured by Volvo. To safeguard the premium qualities of our buses we partner up with selected bodybuilders around the world,” says Dan Pettersson, Head of International at Volvo Buses.

An electric bus is always part of a system. Route length, frequency, capacity, charging and local regulations all translate into different solutions.

“Through experience, we know that we need to work closely together with our customers and partners to be able to tailor electromobility solutions to each individual city. And through our worldwide service network and dedicated service teams, we can ensure the reliability and efficiency of our products and services even in the long-term perspective. It’s all about delivering zero unplanned downtime,” says Dan Pettersson.

Safety is a guiding star at Volvo, and the new Volvo BZL Electric meets the highest European standards for superior drivability and safe operation. It includes Volvo Buses’ latest connected technology offer, Volvo Connect. With features such as Volvo’s Zone Management, the operator can create safety zones where the maximum speed is limited, for example outside a school or in a bus depot.

A first-class driving experience and charging flexibility

The Volvo BZL Electric features a driveline developed entirely by Volvo. The 200 kW electric motor is coupled to a two-stage automated gearbox. This increases wheel torque at low speed and evens out current peaks, thus reducing energy consumption and sustaining motor and battery health. The driveline can be configured as a single or dual motor unit with a power output of no less than 540 hp. This makes the Volvo BZL Electric an untiring hill climber and allows for swift and smooth operation.

The Volvo BZL Electric is designed for charging flexibility using hardware interfaces for both OppCharge high-power charging on route as well as CCS charging in the depot. Volvo Buses also offers a usable energy commitment, which means that Volvo Buses guarantees capacity for an agreed amount of energy for the operation – thus eliminating any customer worries about batteries.

Facts Volvo BZL Electric
Length (mm): 11,815 (single decker), 10,585 (double decker).
Driveline: Electric motor, max output one/two motors: 200/400 kW (single decker), 200 kW (double decker).
Gearbox: 2-speed automated manual transmission.
Charging: OppCharge, max charge power: 300 kW. Combo2/CCS, max charge power 150 kW.
Energy storage capacity: up to 470 kWh

For more information, please visit volvogroup.com

Press Release_VolvoGroup

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Cox Automotive Forecast: New-Vehicle Sales Stall In September

Cox Automotive Forecast: New-Vehicle Sales Stall in September

Automobile sales in September are forecast to slow for the fifth straight month, as tight inventory, high prices take a toll on the industry.


September U.S. auto sales are forecast to be significantly hampered by an ongoing lack of new-vehicle inventory. According to a forecast released by Cox Automotive, the pace of auto sales, or seasonally adjusted annual rate (SAAR), is expected to finish near 12.1 million, the slowest pace since May 2020, when much of the country was closed during the first wave of the COVID-19 pandemic. The September 2021 sales pace will be down from August’s 13.1 million pace and down from the September 2020 pace of 16.3 million.

Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company’s more than 27,000 team members and are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of nearly $20 billion.

Sales volume is forecast by Cox Automotive to come in near a notably low 1.0 million units. The low volume expectations for September 2021 put the month on course to be among the worst in the past decade. Sales volume is expected to be down nearly 26% from last September and down 8.5% from last month. The sales pace in the U.S. market has fallen every month since reaching a peak of 18.3 million in April.

According to Cox Automotive Senior Economist Charlie Chesbrough: “After a strong spring selling season, the supply situation has worsened precipitously and is dragging sales down with it. The monthly declines have been large – the sales pace has declined by more than a million units in each of the past five months. Available supply on dealer lots is now 58% lower than last September, down nearly 1.4 million units.”

The new-vehicle supply shortage is impacting the market in many ways. Manufacturers have cut back significantly on incentives, and transaction prices have risen as a result. In addition, the lack of new-vehicle inventory is steering many dealers and consumers into the used-vehicle market, resulting in higher prices for both wholesale and retail used vehicles.

Q3 2021: The Auto Industry Finds the Bottom

Cox Automotive will officially revise its full-year forecast, with new projections scheduled to be released on September 30.

The underlying economic conditions in the U.S. are currently healthy enough to support higher new-vehicle sales levels. The demand is there. Inventory levels, however, are the unique problem facing the automotive market right now, with disruptions to the global supply chain challenging all automakers, severely impacting available inventory, and pushing many would-be buyers out of the market. In recent research by Cox Automotive’s Kelley Blue Book team, nearly half of would-be buyers indicated in August that they will likely step back from the market, many for three months or more.

Inventory conditions, however, are anticipated to improve in the coming months. “The expectation is that OEM supply issues will improve such that Q4 should have better selling SAARs than the September rate, but that doesn’t mean good selling rates,” said Chesbrough. “Vehicles are getting produced, and some OEMs have improved their supply situation. In recent months, OEMs seem to be managing the situation better now that they’ve had time to adjust. For example, automakers are improving their ability to redirect existing chips to the most important vehicles in their portfolios. This strategy should support better sales in the fourth quarter compared to the third quarter.”

September 2021 Sales Forecast Highlights

  • New light-vehicle sales are forecast to fall to 1.0 million units, or down 357,000 units, nearly 26% from last year. Compared to last month, sales are expected to fall 92,000 or nearly 8%.
  • The SAAR in September 2021 is estimated to be 12.1 million, down from last September’s early COVID recovery pace of 16.3 million and down from August’s 13.1 million supply-constrained level.
  • No segment saw a sales increase in September with the Mid-Size Cars and Compact SUV/Crossover segments seeing the largest year-over-year decreases at -41.0% and -33.7%, respectively.

Cox Automotive Q3 U.S. Auto Sales Forecast Call

Chief Economist Jonathan Smoke and the Industry Insights team will share their take on the overall industry performance on Thursday, September 30, at 10 a.m. EDT. In addition to the economic factors influencing the market, the Industry Insights team will cover the industry’s hottest topics, including inventory, vehicle prices, and valuations. The revised Cox Automotive full-year forecast will be explained, including insights into the outlook for the remainder of the year. 

Register to attend.

* All percentages are based on raw volume, not daily selling rate.

SOURCE Cox Automotive Press Release. 

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Ford Motor To Cease Operations In India: What Happens Next?

Ford Motor To Cease Operations in India: What Happens Next?

“To continue investing … we needed to show a path for a reasonable return on investment,” Ford India head Anurag Mehrotra told reporters last week. “Unfortunately, we are not able to do that,” Anurag concludes. 


Ford India Private Limited announced on 9 September 2021, their intent to shut down their two manufacturing plants located in Chennai, Tamil Nadu, and Sanand, Gujarat. Their decision to move out of the Indian market comes with a heavy heart. After sinking $2.5 billion in India since entry and burning another $2 billion over the past decade alone, Ford decided not to invest more. 

Ford Motors’ venture into India was not easy, especially being one of the first multinational automobile companies entering into the Indian market and their journey was neither smooth with tough competition from companies such as Japan’s Suzuki Motor Corp. and South Korea’s Hyundai Motor Co. Surprisingly, they were not the only global automobile corporations that have found it difficult to sustain India’s automobile market which is the fourth largest in the world based upon production statistics of 2017. In fact, Ford’s American rival General Motors (GM) and the American motorcycle company Harley-Davidson are also on the list of global companies that have ceased manufacturing in India.

Factors Contributing To Ford India’s Closure

Some of the key factors were:

  • Failure to adapt to the Indian Consumers’ Portfolio

Indian consumers prefer small, cheap, fuel-efficient cars that could bump over uneven roads without needing expensive repairs. In India, 95% of cars are priced below $20,000.”The struggle for many global brands has always been meeting India’s price point because they brought global products that were developed for mature markets at a high-cost structure,” commented analyst Ammar Master at LMC Automotive. 

An automobile industry expert from India who prefers annonymity,  pointed out that Ford did not fully customize its car platforms. India is a right-hand drive market whereas in the US it is left-hand drive.  The expert adds, “Some of the Ford India’s car models, the owner-driver, had to get down, go around the vehicle, open the left side door to unlock the boot, certainly a tedious affair,” the expert explained. 

  • Difficult Market for Global Brands

Some of Ford’s missteps can be traced to when it drove into India in the mid-1990s. While Maruti Suzuki India Ltd and Hyundai Motor India Ltd cashed in on launching new models at different price points, Ford and General Motors failed to do so as they didn’t have a small car in their global portfolio. Ford mentioned that it had considered bringing more models to India but determined it could not do so profitably. 

In addition, an automobile industry expert from India pointed out that Ford did not fully customize its car platforms. India is a right-hand drive market whereas in the US it is a left-hand drive. As such, “Some of the Ford India’s car models, the owner-driver, had to get down, go around the vehicle, open the left side door to unlock the boot, certainly a tedious affair,” the expert explained. 

Hence, as a whole, “U.S. manufacturers with large truck DNAs struggled to create a good and profitable small vehicle. Nobody got the product quite right and losses piled up,” said Ravi Bhati, President of JATO Dynamics Ltd.

While India’s auto market has been described as tough to crack, Hyundai subsidiary Kia Motors and China’s MG Motor are among the exceptions, having made significant inroads over the last couple of years.

  • Demand Has Been Muted

Auto sales have registered a combined annual growth rate of just 1.5 per cent in India over the past five years, upsetting the plans of MNCs who have heavily invested in the Indian markets. In conjunction with the Indian market’s downturn, the automobile industry demand for combustion vehicles, in general, is declining due to the transition towards an all-electric future. 

“The industry has been witnessing comparatively slower growth in the last 18 months… There have been a lot of statements about the importance of the automobile industry, but in terms of concrete action, which would reverse the decline, I haven’t seen any action on the ground. I don’t think the car industry would revive either with ICEs, or with the CNG, biofuels or EVs unless we address the question of affordability of cars for the consumers,” Maruti Suzuki chairman R C Bhargava had said.

Therefore, a combination of factors snowballed over 25 years with the pandemic last year, exacerbating the economic losses to a point of no return.

Ford considered several options in India, including partnerships, platform sharing and contract manufacturing with other carmakers before deciding to shut down factories in India.

What Is Next?

  1. For Ford India Employees

“The company has to export about 30,000 cars by the end of this year. So, the management has cajoled the workers to restart production while holding talks relating to the plant closure,” another worker told IANS preferring anonymity.

According to Ford India, about 4,000 employees are expected to be affected by its decision. The union officials are also studying the settlement packages offered by other companies and to avoid other pitfalls so that they can secure a good compensation package if they are not able to protect their jobs.

       2.  For India and automobile industry competitors

The retreat by Ford is a further blow to Prime Minister Narendra Modi’s Make-in-India program, which encourages companies to manufacture locally. Tesla Inc. has urged Modi’s administration to allow it to import cars more cheaply before it commits to setting up a factory in the country.

According to Vahishta Unwalla, Lead Analyst-Industry Research Team, Care Ratings Ltd, companies in the utility vehicle space like Maruti Suzuki, Hyundai Motor, Kia Motors India Pvt Ltd and Tata Motors Ltd shall benefit by the exit of Ford India. She adds that since Ford India is not a major player in any car segment,  its absence will not result in any substantial windfall for other players.

More updates on Ford can be found https://corporate.ford.com/

References of Content:

[1] What the exit of Ford Motor Company from India tells us by MG Arun, India Today
[2]
Ford Motor Company bails on India, will shut car factories there    by Ragini Saxena and Keith Naughton (Bloomberg)
[3] Ford motor to cease local production in india shut down both plants report by Pranav Mukul
[4] What went wrong with Ford in India and who will benefit from its exit? by IANS, Chennai


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Hyundai X NTU: Four Pilot Projects Focusing On Mobility Of The Future.

Hyundai x NTU: Four Pilot Projects Focusing On Mobility Of The Future.

Singapore’s Nanyang Technological University (NTU) and South Korean car manufacturer Hyundai Motor Group have inked an agreement to run four research projects focusing on the production of electric vehicles and future mobility technologies. 

By Ashwini Balan, Eastern Trade Media


Specifically, the projects will look at the use of artificial intelligence (AI) and additive manufacturing(AM) technologies. The research initiatives were part of NTU’s vision to develop applications that would be revolutionary, paving the way for next-generation automobile manufacturing. One of the projects, for instance, is to build machine learning algorithms for vehicle image processing, that could be tapped to check the quality of battery electric vehicles. An AI-powered image processing sensor deployed in the manufacturing plant could detect defects and anomalies across the production process, ensuring the safety and reliability of the final product, NTU said. 

Another project would explore the integration of additive manufacturing, or 3D printing, to customise automotive components for electric vehicles and how these parts could be implemented in small factor operation. This could facilitate smart manufacturing sites capable of building car models that are customised.

The partnership between Hyundai and NTU started last October, when NTU was unveiled as Hyundai’s first academic research partner for their innovation centre in Singapore. The project will steadily begin research work this month and is expected to be completed by the end of 2022. The Hyundai research facility focuses on future mobility technologies and together with NTU, Hyundai also planned to run 3D printing competitions in automotive engineering, which they hoped would spur interest in electric vehicle manufacturing and nurture new talent in the sector. NTU students and researchers also would be able to tap Hyundai’s industry experts to exchange ideas. 

There are similar projects that Hyundai has partaken in 2021, in view of their carbon neutrality goals. In June, Hyundai teamed up with mobile app platform Grab to drive the adoption of electric vehicles in Southeast Asia. Both companies would explore pilots to ease the use of such vehicles for Grab drivers and delivery partners, such as offering leasing programmes on a “battery-as-a-service” model. The South Korean carmaker in March also announced a partnership with Singapore telco Singtel to develop a system for Hyundai to monitor electric cars driven on the island. The Internet of Things (IoT) platform would provide Hyundai with telemetry, or “automatic data transmission”, on the status and performance of the batteries powering the electric vehicles used the company’s subscription service.

Indeed, multinational automotive manufacturers are gearing ahead into the all-electric future and it seems that this vision of the future, would soon become the present reality. 

References of the content:
1. Original Article Source: Eileen Yu, ZDNet, 2021
2. Image Source: Lorenzo Hamers on Unsplash

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Philippines Automobile Sales Grows 3.5 Percent In 2019

Philippines Automobile Sales Grows 3.5 Percent In 2019

According to a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (Campi) and Truck Manufacturers Association (TMA), Philippines Automobile Sales experienced a 3.5 percent growth in 2019, selling nearly 370,000 units. Campi and TMA member-companies sold 369,941 units in 2019, an increase from 357.410 units in 2018.

The sale of commercial vehicles increased by five percent from 248,390 units in 2018 to 260,744 units in 2019, accounting for 70.5 percent of total sales. While sale of passenger cars grew 0.2 percent from 109,020 units in 2018 to 109,197 units in 2019.

Auto sales in December gave the final push, as data showed that 33,715 units were sold in the last month of 2019, up by 5.5 percent from the 31,945 units sold in the same month in 2018.

The report also showed that Toyota Motor Philippines Corp. (43.79 percent share) remained the market leader last year, followed by Mitsubishi Motors Philippines Corp. (17.32 percent share), and Nissan Philippines Inc. (11.54 percent share).

According to Campi President Rommel Gutierrez, the growth was a “welcome relief” for the industry. “The year 2019 has been challenging for the industry due to various internal and external factors. Thankfully the industry’s collective efforts, supported by sustained economic growth, have paid off,” Gutierrez said.

“We will not rest on our laurels as we aim for further growth in the coming months, and hopefully for the whole of 2020,” he added.

 

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Vietnam To Remove Import Tax For Auto Materials

Vietnam To Remove Import Tax For Auto Materials

Vietnam To Remove Import Tax For Auto Materials Ministry of Finance (MoF) plans to eliminate the import tax for auto parts and accessories, which are not available domestically, to support the development of the local automotive industry. The tax cut was part of the Government’s revised decree on the schedule for preferential import tariffs, flat taxes, compound tariffs, and out-of-quota import tariffs.

Furthermore, MoF will develop preferential import tax policies for raw materials for automotive manufacturing and assembly from 2019 to 2023.

Removal of the import tariff for auto parts could help local companies reduce operation costs and improve competitiveness.

By 2030, Vietnamese automobile market will be fully open to major automobile production centres around the world including Japan, Mexico and the EU.

 

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The Auto Industry: Roadmap To The Future

The Auto Industry: Roadmap To The Future

As the sector transforms itself, will the auto industry keep its soul? Article by Paul Gao, Russell Hensley, and Andreas Zielke, McKinsey & Company.

Over the past 50 years, automobiles have continued to be our “freedom machines”, a means of both transportation and personal expression. Even so, as the industry recognised, the automobile is but one element of a mobility system – an element governed by extensive regulations, constrained by a need for fuel, and dependent on a network of roadways and parking spaces. Automobiles are also a force for change. Over the past half century, their very success has generated pollution and congestion while straining the supply of global resources. The rapid surge of emerging markets has heightened these dynamics.

Even more transformative change is on the way. Global competitive intensity will rise as Chinese players expand from their vast domestic market. Governments are examining the entire automotive value chain and beyond with an eye toward addressing externalities. Technological advances – including interactive safety systems, vehicle connectivity, and, ultimately, self-driving cars – will change the game. The automobile, mechanical to its soul, will need to compete in a digital world, and that will demand new expertise and attract new competitors from outside the industry. As value chains shift and data eclipses horsepower, the industry’s basic business model could be transformed. Indeed, the very concept of cars as autonomous freedom machines may shift markedly over the next 50 years. As mobility systems gain prominence, and vehicles are programmed to drive themselves, can the soul of the car endure? This is just one of the difficult questions that confront the automotive industry as a result of the forces described in this article.

The China Factor

Fifty years of innovations in horsepower, safety, and rider amenities have helped automobile sales grow by an average annual rate of three percent since 1964. This is roughly double the rate of global population growth over the same period and makes for a planet with over one billion vehicles on its roads. For the past 20 years, though, sales in North America, Europe, and Japan have been relatively flat. Growth has come from emerging markets – much of it in China, which over the past decade has seen auto sales almost triple, from slightly less than 8.5 million cars and trucks sold in 2004 to, estimates suggest, about 25 million in 2014. IHS Automotive predicts that more than 30 million vehicles a year will be sold in China by 2020, up from nearly 22 million in 2013.

For decades, Japanese, North American, and European OEMs formed a triad that, at its height, produced an overwhelming majority of the world’s automobiles. The growth of Chinese players is changing the equation – and things are moving fast. Ten years ago, only one Chinese OEM, Shanghai Automotive Industry Corporation, made the Fortune Global 500. The 2014 list has six Chinese automakers. Given surging local demand, the Chinese may just be getting started.

Regulating From ‘Well To Wheels’

Governments have been driving automotive development for decades. Initially, they focused on safety, particularly passive safety. The process started with seat belts and padded dashboards and moved on to airbags, automotive “black boxes,” and rigorous structural standards for crash-worthiness, as well as requirements for emissions and fuel economy.

More recently, the automobile’s success has strained infrastructure and the environment, especially as urbanisation has accelerated. Brown haze, gridlock, and a shortage of parking now affect many urban areas in China, as they do in other cities around the world. Municipalities have begun to push back: Mexico City’s Hoy No Circula (“no-drive days”) programme uses the license-plate numbers of vehicles to ration the number of days when they may be used, and dozens of cities across Europe have already established low-emission zones to restrict vehicles with internal-combustion engines.

China too is acting. Influenced by its dependence on foreign oil and by urban-pollution concerns, the government has indicated that it favours electric vehicles, even though burning domestic coal to power them can leave a larger carbon footprint. In Beijing, a driver wishing to purchase a vehicle with an internal-combustion engine must first enter a lottery and can wait two years before receiving a license plate. Licenses are much easier to get for people who buy state-approved electric vehicles.

Regulation would also create new opportunities beyond traditional industry competencies. For example, some automakers are investigating potential plays across the value chain – such as developing alternative fuels or investing in wind farms to generate power for electric vehicles – to offset the emissions created by the vehicles they sell.

In any event, the automotive industry should expect to remain under regulatory scrutiny, and future emissions standards will probably require OEMs to adopt some form of electrified vehicle. Indeed, we believe that regulatory pressures, technology advances, and the preferences of many consumers make the end of the internal-combustion engine’s dominance more a matter of “when” than of “if”. The interplay of those forces will ultimately determine whether range-extended electric vehicles, battery electric vehicles, or fuel-cell electric vehicles prevail.

Digital Disruption

The car of the future will be connected – able not only to monitor, in real time, its own working parts and the safety of conditions around it but also to communicate with other vehicles and with an increasingly intelligent roadway infrastructure. These features will be must-haves for all cars, which will become less like metal boxes and more like integrators of multiple technologies, productive data centres – and, ultimately, components of a larger mobility network. As every vehicle becomes a source for receiving and transmitting bits of information over millions of iterations, safety and efficiency should improve and automakers should be in a position to capture valuable data. Electronic innovations have accounted for the overwhelming majority of advances in modern vehicles. Today’s average high-end car has roughly seven times more code than a Boeing 787.

Digital technology augurs change for the industry’s economic model. Over the past decades, automakers have poured their cost savings into mechanical, performance-oriented features, such as horsepower and gadgetry, that allow for higher returns. While it’s unlikely that regulatory and competitive pressures will abate, the shift from mechanical to solid-state systems will create new opportunities to improve the automakers’ economics. The ability to analyse real-time road data should improve the efficacy of sales and marketing. Digital design and manufacturing can raise productivity in a dramatic way: big data simulations and virtual modelling can lower development costs and speed up time to market. That should resonate with customers conditioned to the innovation clock speed of consumer electronics, such as smartphones.

Common online platforms can connect supply and demand globally to increase the efficiency of players across the supply chain. Embedded data sensors should enable more precise monitoring of the performance of vehicles and components, suggesting new opportunities for lean-manufacturing techniques to eliminate anything customers don’t value and dovetailing with the digitisation of operations to boost productivity, including the productivity of suppliers, in unexpected ways. As automobiles become more digitally enabled, expect connected services to flourish. When the demands of driving are lifted, even the interiors of vehicles may give automakers opportunities to generate revenue from the occupants’ connectivity and car time.

Autonomous Vehicles And The Soul Of The Car

Currently, human error contributes to about 90 percent of all accidents, but autonomous vehicles programmed not to crash are on the horizon. To be sure, some technological issues remain, emissions issues will linger, and regulators are sure to have a say. Furthermore, combining autonomous and non-autonomous vehicles in a single traffic mix will be a significant challenge. The most difficult time is likely to be the transition period, while both kinds of cars learn to share the road before self-driving ones predominate. The technology, though, is no longer science fiction.

The possible benefits, by contrast, read like fantasy. If we imagine cars programmed to avoid a crash – indeed, programmed never to crash – we envision radical change. Passengers, responsible only for choosing the destination, would have the freedom to do what they please in a vehicle. Disabled, elderly, and visually impaired people would enjoy much greater mobility. Throughput on roads and highways would be continually optimised, easing congestion and shortening commuting times.

Freed from safety considerations such as crumple zones, bumpers, and air bags, OEMs could significantly simplify the production of cars, which would become considerably lighter and therefore less expensive to buy and run. Automobiles could also last longer as collisions stop happening and built-in sensors facilitate the creation of parts on demand.

But what about the soul of the car: its ability to provide autonomy and a sense of self-directed freedom? Google’s prototype autonomous vehicle has no steering wheel, brake pedal, or accelerator. The vision of a connected car, in fact, challenges even the most essential concepts of personal car ownership and control. When a rider need only speak a destination, what becomes of the driving experience—indeed, why even purchase a car at all? Manufacturers may continue to refine the feel of the ride and to enhance cabin infotainment. Still, there’s probably a limit to how “special” a cabin can be or even to how special consumers would want it to be.

 

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Global Metal Stamping Market Forecast

Global Metal Stamping Market Forecast

According to Research And Markets, the global metal stamping market is projected to grow at a CAGR of 3.9 percent from 2018 to reach USD 289.2 billion by 2023. Contributing factors for this growth include rising urbanisation and industrialisation, growth of the automotive industry, increasing demands from the aerospace and aviation industry and a rise in technological advancements. To add to this trend, the increased adoption of sheet metal across manufacturing industries and the blooming of metal stamping facilities has further supported the metal stamping market. However, the emergence of plastics and composite materials have also hindered market growth.

Blanking processes currently hold a huge market share and this can be attributed to the popularity of the technique among the automotive, aerospace and aviation and consumer electronics sector as this is a process that can mass produce precise and superior quality metal work pieces in large volumes at low costs. Similarly, the application of metal stamping in the automotive industry is highly popular, especially in China and India as both countries are experiencing rapid technological advancements and possess a large number of automotive metal stamping companies.

Growth of the market in Asia Pacific is expected to continue as the region held the largest share of the global metal stamping market in 2017, followed by Europe and North America. This can be attributed to factors such as the displacement of manufacturing from the west to the east, rising regional industrialisation,increased investment inflows and industrial growth across numerous sectors.

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Overview Of The Global Sheet Metal Market

Overview Of The Global Sheet Metal Market

Sheet metal is widely used in the metalworking industry. Metal such as brass, aluminium, steel, copper, nickel and tin are processed into flat or thin sheets. These thin sheets of metal can then be cut, bent or moulded into different shape and sizes for use in the automobile, aerospace and steel industries.

The major sheet metal markets are the developing regions in Asia Pacific such as China and India due to the large demand for sheet metal in the automobile industry. According to market research by Technavio, Asia Pacific led the market in 2017 with a market share of nearly 45 percent and is expected to dominate the market through 2022, with an increase in market share by nearly three percent.

Aluminium is also a big driver for the sheet metal industry as it is a major raw material used across industries. “The production process for aluminum releases high quantities of carbon emissions, negatively impacting the environment. This has been overcome by new advances in technology to reduce the carbon dioxideemissions and production-related expenses. For the process, inert anodes are used instead of carbon-rich anodes, leading to the production of oxygen instead of carbon dioxide. Thus, the increasing adoption of such manufacturing processes across the globe will increase the production of aluminum, in turn, driving the production of sheet metals in the future,” said a Senior Analyst for metals and minerals at Technavio.

Key players in the global sheet metals market include Associated Materials, ABC Sheet Metal, A&E Manufacturing Company, ATAS International, BlueScope Steel, Bud Industries, General Sheet Metal Works, NCI Building Systems, Nucor Corporation, United States Steel Corporation, Alcoa, Wise Alloys L, Noble Industries, Prototek, Autoline Industries, Humble Manufacturing, Gupta Metal Sheets, Gajjar Industries, Dhananjay Group, Rajhans Pressings, Nimex International, Kay Jay, Samesor, Fabrimech Engineers, Deepesh pressing, Southwark Metal, PROTO-D ENGINEERING, PEPCO MANUFACTURING COMPANY, Northern Manufacturing, Vinman Engineering Private, Aero Tech Manufacturing, Dulocos Conveyors and Moulds, SSR Metals Private, Fabrinox, and Acosta Sheet Metal Manufacturing.

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Vietnam And South Korea To Increase Bilateral Trade To US$100 Billion By 2020

Vietnam And South Korea To Increase Bilateral Trade To US$100 Billion By 2020

Vietnam’s Minister of Industry and Trade, Tran Tuan Anh, has signed a memorandum of understanding (MoU) with South Korea’s Minister of Trade, Industry and Energy, Sung Yunmo. Under this MoU, both countries will embark on an action plan to increase bilateral trade to US$100 billion by 2020. Additionally, this document will function as an added legal documentation between both leaders with regards to the broad agreements that were discussed at the Asia-Pacific Economic Cooperation (APEC) meetings in Da Nang in November 2017.

Based on the MoU, from now on till 2020, South Korea would support Vietnamese enterprises by enhancing their competitiveness in areas that include accessories and parts, automobile and electronics.

Bilateral trade between Vietnam and South Korea reached US$61.5 billion in 2017 which is an increment of 41.3 percent year-on-year. Within this figure, Vietnam’s exports to South Korea made up US$14.8 billion, which was an increment of 30 percent while the country’s imports to South Korea was worth US$46.7 billion. This was an increment of 45.3 percent year-on-year.

In the January – November period, South Korea remained Vietnam’s second largest import market with turnover of US$43.5 billion. This was an increment of 1.7 percent year-on-year and South Korea was only behind China by US$ 59.7 billion.

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