Finance
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Shift to reverse: Lordstown Motors backtracks (again) on electric pickup orders
Two days after declaring it had binding orders for its commercial electric pickup trucks, Lordstown Motors backtracked in an SEC filing.
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Heyl Truck Lines buys regional carrier Holiday Express
Heyl Truck Lines announced the acquisition of Holiday Express. The deal combines two Iowa-based temperature-controlled haulers.
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Nikola goes private to raise up to $300M in new money
Nikola Corp. agreed to sell Tumim Stone Capital up to $300 million in new shares over the next three years.
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NextNav, with its warehouse-ready positioning technology, going public via SPAC
Spartacus will acquire the company in a valuation of more than $1B; more than $400M will be plowed back into the business for growth.
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Gemspring Capital invests in Transport Investments
The investment was motivated by continued growth in the specialty freight logistics markets.
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Ongoing port congestion may create opportunistic ‘inventory bubbles’ for off-price retail
Trips that once took three to four weeks are often taking three to four months, and shipments will undoubtedly miss their season for some retailers.
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Small Fleet Summit: Financing owner-operators’ day-to-day operations with factoring
Factoring is one of the most important sources of liquidity for small fleets and independents, and it’s undergoing significant consolidation.
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XPO provides GXO guidance, pulls forward spinoff date
XPO Logistics provided updated expectations for the second quarter and issued 2022 guidance for soon-to-be stand-alone logistics company GXO.
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BravoTran spins off from HubTran, sets sights on freight forwarding efficiencies
The new company already has 10 clients, as it takes the HubTran platform and steers it toward a market that is similar but with key…
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Navistar posts big jump in Q2 earnings with help from TuSimple
Autonomous trucking software startup TuSimple’s public offering helps boost Navistar Q2 earnings while a trucking recovery leads to added production.
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