Workhorse Group shares plummet as Postal Service delays delivery truck contract to early 2021. Separately, a potential short seller claims the electric delivery truck maker is worth just 20% of its valuation.
Digital freight-matching brokerage Transfix is in discussions with a special purpose acquisition company that could lead to its listing as a public company, according to Bloomberg.
Lockup expiration sends Nikola shareholders heading for the exits for second consecutive day as stock loses about 40% of its value.
Daimler Trucks and Portland General Electric are creating an Electric Island for commercial vehicle charging, a novel approach to meet the growth in battery-powered freight movers.
Navistar makes connected vehicle solutions maintenance standard for five years on all International Trucks on-highway models beginning Dec. 15.
Nikola telegraphed that an equity deal with General Motors was iffy following a short seller’s fraud claims by the electric truck startup. On Monday, GM and Nikola said they may work together to integrate GM fuel cells in Nikola trucks, a small piece of the grander plan.
Excerpt: Nikola and GM signed a nonbinding memorandum of understanding to use the automaker’s Hydrotec fuel cells in its heavy-duty trucks. But GM walks away from taking an equity stake and the Badger electric pickup is dropped.
No longer content to be known only for aerodynamic advances, XStream Trucking becomes TruckLabs to broaden business beyond cab and trailer gap-closing technology.
Nikola Corp. founder Trevor Milton can sell his 92 million shares on Monday, creating a glut of stock that could drive the already volatile share price lower.
Daimler Trucks North America built the 700,000th truck in its medium-duty assembly plant in Mount Holly, North Carolina, marking 41 years of Freightliner production.
Cowen Inc. helps bolster the balance sheets of startup electric vehicle companies by recruiting private investment in public equity to help young companies earn higher valuations.
All trucking operational costs fell in 2019 as freight demand contracted. Drivers earned less per mile but received bigger retention, signing and safety bonuses, according to the American Transportation Research Institute.
With European investors and loads of experience in Asia, Hyzon Motors is targeting the U.S. for heavy-duty fuel cells it plans to build in General Motors’ former research and development facility.
Clutch failures in a 2-year-old Eaton recall are responsible for the callback of 8,267 Daimler Trucks models from 2018-2019 in the U.S. and Canada.
Mining big data to discover problems before they lead to breakdowns is comparatively new in commercial trucking. Heavy hauler United Road tested the service from Uptake. After a 400% return on investment, it is expanding predictive maintenance to more of its fleet.
Loggers, oil field workers and timber haulers all got their say in the functional design of Western Star’s 49X vocational truck. Fortunately, the truck rides better than the work for which it is intended.
The trend of improving used truck sales stalled in October. But year-over-year price gains are holding up. Added capacity could be a problem if pandemic shutdowns slow freight demand.
The International HX Series off-highway trucks are the first expression of a modular approach imbued in Navistar’s Project Compass initiative.
From trains to trucks to data centers, Cummins Inc. sees $400 million in revenue from hydrogen-making electrolyzers in 2025 as it pursues green hydrogen from renewable sources like solar and wind instead of gray hydrogen made from natural gas.
Drivers and carriers tell the American Transportation Research Institute where they need greater understanding of new hours-of-service rules. A separate survey finds a wide swath of fleets still struggles with ELD mandates.
A car-crazed high schooler, Samatha Parlier learned long before becoming vice president of vocational market development for Daimler Trucks North America that even though both have wheels and engines, off-highway trucks are quite different from passenger cars.
Concern over the supply chain for wood and aluminum components to build new trailers adds to consumer goods-driven demand that pushed equipment orders over 50,000 for a second straight month in October.
Startup electric driveline maker Hyliion Holdings Corp. decided against booking $1 million in revenue during its first quarter as a public company when it lost $9.1 million.
Engine maker Cummins is working with Navistar to develop a Class 8 hydrogen fuel cell truck that carrier Werner Enterprises will put through its paces as fuel cells continue to find favor in the future of long-haul trucking.
Daimler Trucks’ electric truck mileage milestone and new orders for battery-powered trucks at Workhorse Group and Motiv Power Systems keep the juice flowing in industry’s nascent transition from diesel.
The official line on continuing negotiations is unchanged. But Nikola’s CEO refers to GM batteries and fuel cells for its trucks as alternatives.
Electric delivery van maker Workhorse Group draws tough questions from analysts following battery supply issue and lack of deliveries to UPS.
Workhorse Group said 36% of its production staff is sidelined by the COVID-19 virus or awaiting test results. The company ditched its projection of building 300-400 electric delivery vans by the end of the year and badly undershot Q3 sales and earnings projections.
Manufacturers take varied approaches to avoiding the chicken-and-egg conundrum of electric trucks. PACCAR is selling and financing them with leases for battery-powered trucks.
Volkswagen AG’s truck holding company TRATON and Navistar International Corp. reached a definitive agreement on TRATON’s $3.7 billion buyout of the maker of International trucks and IC buses.
After brief grooming as chief operating officer, the veteran Meritor operations leader will succeed president and CEO Jay Craig, who becomes executive chairman.
Kenworth and Peterbilt climbed Pikes Peak with Class 8 electric trucks, then descended the 12-mile course of switchbacks and twisting turns to show the range-extending value of regenerative braking.
Volvo Trucks North America will begin building Class 8 VNR Electric day cab trucks in Virginia in December, continuing an industry surge in bringing battery-operated commercial vehicles to market.
The once little-regarded special purpose acquisition company is all the rage on Wall Street as $56 billion in blank check companies seek reverse merger targets. A leader of two of those efforts cautions day traders to know what they are investing in.
Wabash National saw a 37% surge in its backlog of trailers to build from the second to the third quarter as record orders piled in. Third-quarter margins declined but the trailer and last-mile equipment builder was profitable.
A comfortable merger still requires managing change and making parts fit as technology races ahead, says Trinity Logistics President Sarah Ruffcorn
Preliminary Class 8 truck orders in North America reached a two-year high in October with more than 40,000 reservations.
Daimler Truck and Volvo Group expect to hit the ground running in their fuel cell joint venture. Volvo is buying Daimler’s expertise and helping offset the development cost of the zero-emissions technology while the rivals will compete in producing hydrogen-powered trucks.
Increased freight volume and higher carrier profits always drive Class 8 truck demand. The circumstances in 2020 differ from 2018’s tax cut-driven boom, but reasons for the surge are identical.
Daimler Trucks continues to build out autonomous expertise with a partnership and investment in LiDAR maker Luminar
A FreightWaves survey of top election issues as viewed by motor carriers found the economy top of mind ahead of Tuesday’s election. Taxes and regulations tied for second.
For the fourth consecutive year, a shortage of drivers topped the Critical Issues in the Trucking Industry survey conducted by the American Transportation Research Institute.
Dana Inc. sales rose 85% above second quarter as most markets rebounded from COVID pandemic. The company also invested in a maker of electric vehicle software.
A driver shortage worsened by the coronavirus pandemic and failed drug tests topped the American Transportation Research Institute’s list of critical issues in the trucking industry for the fourth consecutive year.
Diesel and advanced powertrain maker Cummins Inc. reported the largest quarter-to-quarter increase in revenue and profits after suffering its worst sales drop in its 100-year history — a stark example of the so-called V-shaped recovery.
Used truck pricing pressure is easing as stakeholders from manufacturers to dealers report growing sales momentum despite the lingering pandemic — and because of it.
The Q3 pattern for truck makers continued at Daimler Trucks with orders recovering dramatically from the second quarter but sales and earnings trailing because deliveries fell due to the pandemic.
Startup gets $780 million from Diamond Peak Holdings Corp. to build commercial fleet-focused electric pickup truck.
All stakeholders are experiencing used truck momentum despite and because of the lingering pandemic.
Barry Engle and his Qell Acquisition Corp. raised $380 million to invest in a next-generation mobility startup. But how many great candidates are left in the SPAC craze?
The EPA and a Southern California air quality district are providing $21.7 million for 70 Volvo Class 8 electric trucks for use in drayage and regional haul, propelling the Swedish truck maker to the lead among battery-powered truck makers.
Navistar tells TRATON it can buy the company for $44.50 a share, or about $3.7 billion, slightly more than TRATON’s final offer and almost $10 more a share than its $2.9 billion bid in January.
Volvo Group Q3 sales and earnings trailed last year. But a recovery in heavy-duty truck orders and market share gains in North America improved a bleak picture.
Hybrid drivetrain maker Hyliion takes a preorder of up to 250 Hypertruck ERX systems from American Natural Gas, securing discounted fuel for Hyliion customers as well as new fueling stations near customer locations with no up-front costs.
The numbers will be small but the competition fierce as major truck makers debut their first fully electric Class 8 trucks in 2021. Kenworth will be in the zero-emission mix with its T680E built on a Meritor electric drive system.
TRATON Group is giving Navistar until noon Friday to accept its $43-a-share offer for the 83% of the truck maker it does not already own, or the German holding company owned by Volkswagen says it will walk away.
Logistics giant NFI is adding 5,000 new jobs before the end of 2020, further evidence of the demand on trucking to meet pandemic-induced and holiday freight needs.
A look at how college English major Amy Davis navigates hydrogen fuel cells and other alternative energies at Cummins, the trucking industry’s top engine maker.
Fleets placed 52,000 preliminary orders for new trailers in September, the third-highest month in history as pandemic-driven consumer goods demand continues unabated.
Workhorse Group is adding $200 million in debt to ramp up electric delivery van production faster and add new products like a refrigerated grocery delivery van.
The vote to complete a reverse merger for commercial electric pickup startup Lordstown Motors is set for Oct. 22 amid greater than run-of-the-mill business risks.
The conversion of natural gas to electricity is not the secret sauce for Hyliion’s drivelines for heavy-duty hybrid trucks. It’s the software that efficiently manages the power.
Startup Xos originally sold itself as a Class 8 electric truck chassis maker. After pivoting to middle-mile medium-duties when they looked like the sweet spot, Xos is back to the larger trucks with a contract from Hino Trucks.
Commercial vehicle battery maker Romeo Power gets a blank check company’s backing as investors target electric components and infrastructure for electric trucks.
Daimler Trucks is recalling 142,110 units of the brand’s flagship Freightliner Cascadia from the 2017-2021 model years because the brake lights may stay on after the brake pedal is released.
Second-largest auto supplier merger of 2020 positions BorgWarner for greater role in electrification while completing the breakup of General Motors’ once-vast parts organization.
Cash from higher spot rates and replacement orders led September Class 8 truck orders to their highest monthly total since October 2019
Hyliion Holdings Corp. CEO Thomas Healy draws distinctions between his company and embattled Nikola Hyliion begins public trading.
A Bendix-Dana joint venture has made more than 3.5 million heavy-duty truck brake system components since 2004. Now Bendix will go it alone.
Nikola Corp. appoints a veteran financial executive to its board of directors, replacing a retiring board member with close ties to departed founder Trevor Milton.
As Nikola’s talks continue with General Motors to preserve a supply deal for batteries and fuel cells, evidence is mounting that the Nikola Badger electric pickup associated with departed founder Trevor Milton may become roadkill.
After three weeks of negative media following a short seller’s allegations of fraud, Nikola is fighting back. The startup electric truck maker showed a timeline of planned milestones to reel back fleeing investors and keep customers from canceling orders.
Six years in development, the new vocational truck adopts safety technology from Daimler Trucks’ on-highway models with other firsts for extreme-use trucks.
A week after renewing confidence in embattled Nikola Corp. and indicating its deal to manufacture the startup’s electric pickup truck was on track, General Motors has dropped its supportive language.
3PL Quiet Logistics lost its supplier of warehouse robots when Amazon bought Kiva Systems in 2012. After three years in stealth mode, Quiet Logistics spun off its own robotics business in 2015. Five years later, Locus Robotics is growing globally.
Holders of stock in a shell corporation voted Monday to merge with electric driveline maker Hyliion Corp., pledging $560 million to fund the startup’s business plan to make heavy-duty trucks cleaner and quieter.
Startup hybrid truck drivetrain maker Hyliion expects to complete its short trip to public trading on Monday when Tortoise Acquisition shareholders count votes on a reverse merger under which Hyliion would trade on the NYSE and get $560 million to fund its business plan.
Workhorse Group’s 1,000-cubic-foot composite body electric delivery van covered 160 miles on a single charge in EPA testing, which the company says lowers its total cost of ownership.
Possible cracked brake pedal plate leads to safety recall covering 17,545 Volvo trucks spanning its lineup in the U.S. and Canada.
Daimler Trucks North America is expanding a recall of medium-duty models because the engine harness could chafe. If the wires are damaged and short, some of the 10,500 recalled trucks may stall and not restart.
Nikola Corp.’s hunt for a partner to build hydrogen fueling stations for its electric trucks stalled because of a short seller report attacking founder Trevor Milton on the startup’s technology claims, the Wall Street Journal reported.
Nikola’s chief financial officer tried to clear a cloud of confusion over the startup electric truck maker, dissecting who does what on the Nikola Tre that goes into production in Europe in 2021.
South Korea’s Hyundai will test heavy-duty fuel cell trucks in the U.S. in 2021 as Nikola resets following its founder’s departure.
Nikola founder Trevor Milton’s departure from the company “was not a termination,” the company said in a federal securities filing. And while Milton remains a billionaire on paper, he gives up a lot in leaving the startup electric truck maker.
Nikola founder Trevor Milton is out as executive chairman of the electric truck startup, the latest fallout from a brutal report by a short seller accusing him of lying about the company’s technology.
Electric trucks from PACCAR siblings can get California rebates when the fund is replenished; Daimler shows future battery and fuel cell trucks; and FMCSA grants Bosch a video mirror waiver.
Nikola’s 700-station hydrogen fueling network will use solar, nuclear or whatever clean energy is cheapest. Some locations will require truck delivery because electricity costs too much to make hydrogen on-site.
Pulled along by improving orders for new Class 8 trucks, demand for late-model heavy-duty used trucks continues to swell.
The continuing rebound in trailer orders is in line with three-year high in spot freight rates as consumers buy more goods than services.
After testing its battery-powered LR Electric refuse truck in New York City and with Republic Services, Mack Trucks will take orders in Q4 for deliveries in 2021. Republic, however, committed in August to startup Nikola for 2,500 cabover Tre models beginning in 2022.
Short seller Hindenburg Research renewed its attack on Nikola after successfully beating down its shares. Nikola clams up as to whether the SEC is investigating.
After delaying a rebuttal to short seller Hindenburg Research’s screed on the electric truck startup’s integrity, Nikola publishes detailed responses to 15 of the accusations Monday, calming jittery investors.
Navistar’s board says TRATON’s takeover offer is too low. But it is good enough for the truck maker to open its books and keep talking.
Two Volvo VNR electric trucks enter testing; Kenworth dealers taking orders for medium-duty battery-powered trucks; and reverse merger vote date set for startup Hyliion.
TRATON parent Volkswagen AG will cover the cost of the additional $700 million offer for Navistar, and it’s willing to go higher. How much will it take to close a deal?
Hindenburg Research, which makes money betting against companies with high stock prices, issued a blistering takedown of Nikola, alleging massive fraud by founder Trevor Milton. Nikola says the report is trying to manipulate its stock.
After creating about 50 millionaires on paper a couple of weeks earlier, Nikola founder Trevor Milton gives another million shares of his personal holdings to 350 employees.
Against the backdrop of a tough third quarter when key businesses posted losses, Navistar looks ahead to building electric trucks on the same assembly line with diesel models at a new plant in Texas.
Former General Motors Vice Chairman Steve Girsky, who led startup truck maker Nikola to its public debut in June, earlier suggested to GM that its battery and fuel cell technology could create value for both companies.
General Motors is putting its battery and fuel cell expertise to work for startup electric truck maker Nikola in exchange for an 11% ownership stake worth $2 billion.