The Malaysian commercial vehicle market over 2 tons gvw expanded by more than 5% to 22,217 units in the fourth quarter of 2023 from 21,050 in the same period of the previous year

ABB has opened its newly refitted U.S. robotics facility in Michigan for manufacturing AI-enabled robotics and automation technology to help EV OEMs manufacture products more efficiently.

The Indonesian market for commercial vehicles over 2 tons gvw continued to decline sharply in the fourth quarter of 2023, by 29% to 34,552 units from 48,636 units a year earlier.

The commercial vehicle market over 2 tons gvw expanded by 12% to 91,830 units in the fourth quarter of 2023 boosting annual sales overall.

Sales of commercial vehicles over 2 tons gvw in East Asia’s seven main markets, excluding China, continued to deteriorate in the fourth quarter of 2023, with sales falling by more than 14%.

Formed in 1996, Toyota had gradually increased its stake in the JV andcurrently holds 80.5% of the shares and Panasonic the remaining 19.5%.

With an increasing focus on battery packs, electric powertrains and battery management systems for electric Commercial Vehicles (CVs), the firm has active plans to expand its customer base amongst global CV manufacturers.

Of the two divisions (CVS and RVS), Knorr-Bremse said the Commercial Vehicle Systems (CVS) Division profited from strong positive market developments resulting in an 11.5% increase in revenue to EUR 4,180.2 million (2022: EUR 3,750.0 million). Order intake was up 6.5% at EUR 4,212.2 million (2022: EUR 3,954.3 million).

The company announced record 2023 sales figures of USD 10.6 billion, an increase of 4% compared with 2022 figures of USD 10.2 billion. Adjusted EBITA rose by USD 145 million, to USD 845 million in 2023 (2022: USD 700 million). Financially, the company is healthy with an operating cash flow of USD 476 million and a sales backlog of USD 950 million.

Steven Miller replaces Brett Icahn as Icahn Capital Board Designee. Miller is a portfolio manager at Icahn Capital L.P. a subsidiary of Icahn Enterprises L.P. The board will continue to be composed of 10 directors, nine of whom are independent.

Record sales (526,053 trucks and buses sold) led to record revenue in 2023 (EUR 55.9 billion) and an increase of EUR5bn compared with EUR 50.9 billion in 2022). Adjusted EBIT in 2023 grew by 39% to a record EUR 5,489 million compared with EUR 3.959 million in the previous year.

New energy commercial vehicles (NECVs), comprising mainly hydrogen, electric and plug-in hybrid vehicles, increased by 32% to 447,000 units.