May 16, 2020

Frost & Sullivan: APAC increases production investment

Technology
Georgia Wilson
2 min
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With middle-class consumer purchasing on the rise Manufacturers are investing in new production facilities to meet escalated demand.

As a result of thi...

With middle-class consumer purchasing on the rise Manufacturers are investing in new production facilities to meet escalated demand.

As a result of this increase of production plants and machines, there has been an drive in a requirement for machine tools. An analysis by Frost & Sullivan predicts that this will push the machine tool market in Asia-Pacific to grow at a compound annual growth rate (CAGR) of 2.2% between 2018 and 2023, reaching US$10bn in revenue. 

"Business expansion strategies and plant localisation of end-user industries are set to drive the growth of the machine tool industry in the APAC region," commented Divya Saiprasad, Principal Consultant, Industrials at Frost & Sullivan. "The rise in demand for machine tools can be attributed to the increase in the production of auto components and growth of the automotive industry."

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Frost & Sullivan expects Japan, South Korea and Taiwan to remain the top three markets for machine tools in the APAC region, contributing 69.5% in 2023. While economies such as Vietnam, Indonesia and Thailand are predicted to show strong growth in the next three years, as a result of foreign direct investment (FDI). 

"On the end-user vertical front, engineering and automotive sectors are projected to remain dominant," commented Saiprasad. "The aviation sector is also expected to further supplement the market for machine tools, given the demand from the burgeoning upper-middle-class population."

How can machine tool vendors tap into further growth?

  • Integrating new features and technologies to increase the efficiency of multi-task tools

  • Harnessing IoT and Big Data for preventive and predictive maintenance

  • Developing smart machines equipped with AI, robots, and software technologies

  • Increasing production efficiency, shortening delivery times, and maintaining price competitiveness

  • Expanding sales, distribution, and aftermarket service channels 

For more information on manufacturing topics - please take a look at the latest edition of Manufacturing Global.

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Image source: Frost & Sullivan 

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May 10, 2021

Lion Electric to Construct US EV Manufacturing Facility

ElectricVehicles
SmartManufacturing
Sustainability
Technology
Georgia Wilson
3 min
Lion Electric |Smart Manufacturing | Sustainable Manufacturing | Electric Vehicles | Electric School Buses | Electric Medium and Heavy Duty Vehicles | Sustainability | Technology | Freight | Transportation
Lion Electric announces its selection of Illinois to construct its all-electric medium and heavy-duty urban vehicle manufacturing facility...

Who is Lion Electric?

Founded in 2008, Lion Electric is an innovative manufacturer of all-electric, zero-emissions, medium and heavy-duty urban vehicles. Lion Electric designs, manufactures, and assembles all components for its vehicles that have unique features specifically adapted to the users and their needs. “We believe that transitioning to all-electric vehicles will lead to major improvements in our society, environment and overall quality of life,” believes Lion Electric. 

Lion Electric’s new Illinois Manufacturing Facility

Just two months after announcing plans to construct a battery manufacturing plant and innovation centre in Quebec, Lion Electric is expanding its locations further, selecting Joliet, Illinois for its new manufacturing facility in the US.

The new facility is said to “represent the largest dedicated production site for zero-emission medium and heavy-duty vehicles in the US,” as well as being the company’s biggest footprint in the market. The new facility will give Lion Electric the capacity to meet increasing demand for ‘Made in America’ zero-emission vehicles and bring production closer to customers. 

It is expected that the first vehicles off the production line will be in the second half of 2022.

“Lion’s historic investment to bring its largest production facility to Illinois represents not only a win for our communities, but a strong step forward in our work to expand clean energy alternatives and the jobs they bring to our communities,” said Gov. J.B. Pritzker. 

“The new Joliet facility will put Illinois at the forefront of a national movement to transition to zero-emission vehicle use, advancing our own goals of putting one million of these cars on the road by 2030. In Illinois, we know that a clean energy economy is about more than just vehicles – it’s about healthier communities and jobs for those who live there. We are excited to welcome Lion to the Land of Lincoln and look forward to their future success here.”

Lion Electric’s Agreement with the Government of Illinois

Over the next three years, Lion Electric will invest a minimum of US$70mn into Illinois. The new facility - totalling 900,000 square feet - is expected to create a minimum of 745 clean energy direct jobs in the next three years, and have an annual production capacity of up to 20,000 all electric buses and trucks.

Scaling electric bus production and decarbonising freight and transportation

As the US moves to electrifying its school buses, the additional production capacity at the facility will help Lion Electric to scale its electric bus production, as well as produce an increased volume of heavy-duty zero-emission trucks to help governments and operators in the US further the decarbonisation of freight and transportation fleets.

“Lion is the leader in electric school buses and has always been dedicated to the U.S. market, and our commitment to be close to our customers is one of the core values we have as a company. This significant expansion into the U.S. market will not only allow us to drastically increase our overall manufacturing capacity of electric trucks and buses but to also better serve our customers, while adding critical clean manufacturing jobs that will form the backbone of the green economy,” said Marc Bedard, CEO and Founder of Lion.

“I also want to acknowledge the crucial role that P33 and Intersect Illinois, civic groups committed to developing developing a long-term roadmap for the local tech industry, played in connecting Lion with the Chicago area’s business and civic community to help further commercial traction, as well as engagement with key workforce and supplier partners.” 

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