Quick Hits: November 2, 2020

Volvo Group inks deal with Daimler; ICOMIA issues state of the industry; and LCI reports Q3 growth.
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In a move that may signal bringing fully renewable power to the marine industry, the Volvo Group and Daimler Truck AG have agreed to jointly develop and commercialize fuel-cell systems — with commercial trucks as the initial focus. “The hydrogen-based fuel-cell is a key technology for enabling CO2-neutral transportation in the future. We are both fully committed to the Paris Climate Agreement for decarbonizing road transport and other areas, and to building a prosperous jointly held company that will deliver large volumes of fuel-cell systems,” said Daimler Truck AG board management chairman Martin Daum in a statement. Martin Lundstedt, president and CEO of the Volvo Group, added: “In the future, the world will be powered by a combination of battery-electric and fuel-cell electric vehicles, along with other renewable fuels to some extent. The formation of our fuel-cell joint venture is an important step in shaping a world we want to live in.”  

As many European nations — and several regions in the United States — face upticks in Covid-19 cases, a handful countries across Europe are imposing new national lockdowns. With this in mind as the boating season draws to a close in many places, the International Council of Marine Industry Associations has updated its detailed, country-by-country guide on the pandemic’s impact on the global marine business. ICOMIA lobbies on behalf of national marine associations with the goal of presenting a united voice to address industry issues. The latest update can be seen here

Lippert Components parent company LCI Industries reported consolidated net sales growth of 32 percent in the RV segment in the third quarter, and 11 percent growth in adjacent industries — the segment that includes the company’s marine business. The marine segment continued to benefit from “secular tailwinds,” driving strong growth in the quarter, according to the company. “The integration of the PWR-ARM brand of electric biminis and our new SureShade brand continue to drive growth in the market, in-line with diversification strategy,” the company said in a statement

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Strong demand continued through September.

2020: What We Learned

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Inventory to Remain a Challenge in 2021

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Amplifying Our Collective Voice

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Fortune Favors the Bold

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