NEW YORK, Sept. 23, 2021 /PRNewswire/ -- Lightweight materials have a positive impact on various factors including agility, fuel consumption and driving dynamics. As a result, there is a surge in demand for lightweight materials in the transportation, automotive and aviation industries. Aluminum, polymers and high-strength steel are widely favored to help achieve emission targets that these industries, as well as governments, have set. Automakers are now trying to develop multi-material designs using lightweight materials to improve fuel efficiency of various vehicles. In addition, use of composites and polymers in vehicle manufacturing is expected to grow significantly in the coming years, given the lightweight property of these materials. And according to data provided by Market Research Future, the lightweight materials market size is projected to reach USD 276.50 Billion by 2027 at 8.2% CAGR. TD Holdings, Inc. (NASDAQ: GLG), Rio Tinto Group (NYSE: RIO), Axalta Coating Systems Ltd. (NYSE: AXTA), BorgWarner Inc. (NYSE: BWA), Allison Transmission Holdings, Inc. (NYSE: ALSN).
By using lightweight structural materials, cars can carry additional advanced emission control systems, safety devices, and integrated electronic systems without increasing the overall weight of the vehicle. According to Energy.gov, a 10% reduction in vehicle weight can result in a 6%-8% fuel economy improvement. Replacing cast iron and traditional steel components with lightweight materials such as high-strength steel, magnesium (Mg) alloys, aluminum (Al) alloys, carbon fiber, and polymer composites can directly reduce the weight of a vehicle's body and chassis by up to 50% and therefore reduce a vehicle's fuel consumption.
TD Holdings, Inc. (NASDAQ: GLG) just announced breaking news that, "the Company entered into a strategic cooperation framework agreement (the "Agreement") on September 17, 2021 with Guangdong Enterprise Investment Promotion association ("GEIP"), a influential not-for-profit organization founded by China's leading enterprises, financial institutions, investment institutions, and government investment promotion agencies, in Guangdong province.
Pursuant to the Agreement, the Company plans to develop a lightweight new materials business in China. GEIP agrees to provide assistance and services to the Company by using its extensive resources, assisting the Company with launching its lightweight new material business, jointly establish an industry guidance fund with local governments, as well as launching the Company's smart digital cloud warehouse. The parties plan to enter into a definitive agreement with details of the cooperation in the future.
Ms. Renmei Ouyang, the Chief Executive Officer of the Company, commented, "It is our honor to cooperate with GEIP. According to the International Energy Agency's Global Electric Vehicle Outlook, the global electric vehicle fleet across all transport modes (excluding two/three-wheelers) shall expand from over 11 million in 2020 to almost 145 million vehicles by 2030, an annual average growth rate of nearly 30%. With the growth of the electric vehicle market, this cooperation will provide opportunities for the Company to develop the lightweight new materials business and build a new material supply chain for the electric vehicles industry."
Rio Tinto Group (NYSE: RIO) engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. Earlier this month Rio Tinto Group and Caterpillar have signed a Memorandum of Understanding (MoU) for Caterpillar's development of zero-emissions autonomous haul trucks for use at one of Rio Tinto's Western Australian mining operations. The collaboration will see Rio Tinto work with Caterpillar to advance the development of the manufacturer's future 220-tonne 793 zero-emissions autonomous haul truck including the validation of Caterpillar's emerging zero-emissions technology. "We look forward to working together to validate these zero-emissions haul trucks in just a few years' time. The advanced technology at Gudai-Darri puts it at the forefront of new mining operations globally and we look forward to adding Caterpillar zero-emissions haul trucks to the site."
Axalta Coating Systems Ltd. (NYSE: AXTA) through its subsidiaries, manufactures, markets, and distributes high-performance coatings systems. The company develops and supplies electrocoat, primer, basecoat, and clearcoat products for OEMs of light and commercial vehicles; and various coatings systems for various commercial applications, including HDT, bus, and rail under the Imron, Imron Elite, Centari, Rival, Corlar epoxy undercoats, and AquaEC brands; and sells and ships its products to light vehicle OEM customers. Earlier this week the company provided an update to third quarter and full-year 2021 financial guidance given the ongoing supply chain issues its Mobility customers are experiencing as well as continued raw material inflation and supply chain and logistics constraints impacting the coatings industry. Axalta expects Net Sales for the third quarter to decrease by approximately $40 million relative to volume levels assumed in previously communicated guidance, and for Adjusted EBIT to be reported between $130-140 million, benefiting from positive business mix, ongoing price increases, and continued cost actions.
BorgWarner Inc. (NYSE: BWA) provides solutions for combustion, hybrid, and electric vehicles worldwide. Last month, the Company's President and CEO, Frédéric Lissalde, and other members of the BorgWarner leadership team attended the Grand Opening of AKASOL'S Gigafactory 1, Europe's largest factory for commercial-vehicle battery systems, located in Darmstadt, Germany. The grand opening, held on August 16th, was attended by Tarek Al-Wazir, Hessian Minister of Economics, Energy, Transport and Housing, numerous representatives from politics and business and Peter Altmaier, Federal Minister for Economic Affairs and Energy who shared a personal congratulatory video message. "AKASOL is at the forefront of battery-pack technology, and BorgWarner is amongst the world leaders in most of the products we produce," said Lissalde. "This is the case for electronics and battery thermal management. Together, we will realize product synergies that will create value for our customers and growth."
Allison Transmission Holdings, Inc. (NYSE: ALSN) together with its subsidiaries, designs, manufactures, and sells commercial and defense fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium- and heavy-tactical U.S. defense vehicles worldwide. Earlier in July the Company announced that in partnership with Cummins and GILLIG, has delivered 24 electric hybrid buses to IndyGo, the Indianapolis Public Transportation Corporation. In addition, beginning in 2022, Allison's next generation eGen Flex™ electric hybrid system with geofence technology will be integrated into three of IndyGo's new buses, providing full electric operation for up to 10 miles, multiple times per route, depending on the duty cycle. This will enable IndyGo buses to eliminate engine emissions and noise by operating the bus with the engine off when the bus is stopped for loading and unloading passengers at bus stops and in dense pedestrian areas, as well as when moving through zero emission zones and bus depots.
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