VKTR raises IDR 875bn (USD59m) through the floatation of 20% of its equity on the country’s main IDX exchange.

Jing-Jin Electric(JJE) is a global supplier focussed electric drive systems for passenger vehicle and commercial vehicles.  JJE has a full suite of state-of-the-art technologies in electric motors, power electronics, transmissions, software and integrated electric drive (3-in-1) systems.

The two firms hold an equal share in the new company, named ‘PO-Rein’, whose aim is to manufacture high-pressure hydrogen storage systems for the Chinese commercial vehicle market.

Under the banner of the “ZF New Energy Vehicle eDrive Project” – which has reportedly opened two e-mobility plants in China since 2021 – the new factory will cover an area of 8.3 hectares and employ 900 workers when complete.

XCMG states that 30 E7-49T units are already in operation with customers in different parts of Brazil.

MasterTrans is a dedicated bus builder established a decade ago in Taiwan, which is transitioning to production of electric buses in 18 months' time.

Foton to invest USD1bn in new truck in Mexico with plans to enter the markets of Canda and USA via NAFTA.

Economic growth in the country accelerated to 4.5% year-on-year in the first quarter of 2023, up from a multi-decade low of 3.0% in the whole of last year, as the country began a gradual recovery from the Covid pandemic.

The U.S. Department of Energy took the decision to cancel the deal with Microvast in late May without offering any specific reason - though the company has been the subject of allegations linking it to the Chinese government.

The company said trucks built on these two platforms will give it a presence in around 80% of the country’s heavy-duty truck sub-segments.

Commercial vehicle sales in the first four months of 2023 were up by almost 9% after declining by 40% in the same period of last year.

The company is set to supply its HVH emotors to a major Chinese OEM, with mass production of the automaker’s DHT and REEV vehicles scheduled to start in August 2023 in Tianjin.