Whittling away: Indicted Nikola founder dumps 7M more shares
Just as his former company distances itself from him, indicted Nikola Corp. founder Trevor Milton continues to reduce his stake.
The latest news and trends for electric trucks.
Just as his former company distances itself from him, indicted Nikola Corp. founder Trevor Milton continues to reduce his stake.
Truck Talk is a weekly newsletter adding perspective and context to trucking industry news.
The similarities of solving fleet challenges helped Rich Mohr decide to leave Ryder System after 25 years to join ChargePoint.
Volvo’s first Class 8 VNR Electric truck on the East Coast goes to a beer distributor dedicated to cleaning air in New York City’s South Bronx.
The automaker is eyeing locations in Texas and Arizona as possible sites for its second electric vehicle factory.
Legislation aimed at aerodynamic retrofits is expected to be introduced this week.
The company will build a limited number of trucks in the fourth quarter for validation and regulatory clearance.
Workhouse Group is reviewing its electric delivery van designs to add cargo capacity and sold most of its stake in troubled Lordstown Motors.
Nikola founder makes biggest divestiture to date, selling 7 million shares over three days and transferring 600,000 shares to his spouse.
Precipitous fall in company stock is a backdrop to change at the top of struggling battery maker Romeo Power.
Hybrid powertrain maker Hyliion is increasing electric range to get zero-emission credits for customers of its natural gas-electric Class 8 truck.
In its Q2 earnings announcement Wednesday, GM said it would leverage its BrightDrop business to help it launch a full-size electric cargo van and medium-duty truck.
Confident that the indictment of founder Trevor Milton won’t lead to legal trouble, Nikola focuses on supply challenges.
‘Today’s government actions are against Mr. Milton individually, and not against the company,’ Nikola said in a statement.
From a COVID outbreak to supply shortages, Workhouse Group has repeatedly missed production targets.
Tesla is delaying production of its battery-powered electric Semi until 2022 because of a shortage of batteries, threatening its first-mover advantage.
Pollution credit sales are less of a factor as vehicle profitability at Tesla shifts to overdrive in Q2.
Improving utilization of existing resources in a capacity-crunched market is a “game changer,” Locomation CEO Çetin Meriçli says.
Grants and incentives will be needed to offset high front-end costs, Ryder EV executive says.
Xos’ Dakota Semler and FreightWaves’ Kevin Hill chat about electrifying less glamorous vehicles such as armored trucks and transit vehicles.
Proterra has been making electric buses for more than a decade. It is also making batteries and charging infrastructure.
At its fast charging stations, EVgo provides several options for light-, medium- and heavy-duty electric commercial fleets.
Daimler Truck, TRATON and Volvo Group will spend $593 million to build a truck charging network across Europe.
Troubled electric pickup truck maker Lordstown Motors reportedly is the subject of a Justice Department probe, according to multiple media reports.
Workhorse’s unsealed complaint against the Postal Service claims Oshkosh got preferred treatment and skirted the rules in lobbying for the main truck contract.
Testing in Brooklyn convinced the New York City Department of Sanitation the Mack LR Electric refuse hauler has the right stuff for wider use.
Electric Last Mile Systems went public through a SPAC merger on Monday, with its stock initially jumping about 10% before sliding as the morning trading session wore on.
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Nikola Corp. is investing $50 million to buy a 20% stake in an Indiana clean hydrogen company to eventually supply fuel cell trucks in the Midwest.
Electric vehicle manufacturer ELMS will debut a prototype of its Class 3 cargo van at the FedEx contractors event at the end of July.
Two days after declaring it had binding orders for its commercial electric pickup trucks, Lordstown Motors backtracked in an SEC filing.
Oshkosh files to intervene in Workhorse’s lawsuit against the U.S. Postal Service.
Nikola puts FreightWaves in the passenger seat of a battery-electric Class 8 daycab nearing production in Arizona.
A day after its CEO and chief financial officer quit, Lordstown Motors said it is proceeding with battery-electric commercial pickup production..
Nikola Corp. agreed to sell Tumim Stone Capital up to $300 million in new shares over the next three years.
Lordstown Motors Corp.’s top two executives are out following an internal investigation into allegations of phony preorders for electric pickup trucks.
Once high-flying SPAC Lordstown Motors said Tuesday it may fail without more money to produce commercial electric pickup trucks.
Jerome Guillen, the head of the Tesia Semi Class 8 electric truck program, has left the electric vehicle maker without explanation.
Nikola founder makes bank for early employees to whom he gave 6 million low-priced stock options.
Workhorse Group has nothing significant driving its stock price higher, only retail traders seeking to make money if the price falls.
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From a shortage of truck production workers to parts depot staff, Daimler Trucks North America is trying to keep up with blistering demand.
The nation’s top trucking research group plans to update previous studies on the effects of legalized marijuana and other drugs on truck safety along with integrating 18- to 20-year-old drivers into the industry.
Regulations coming out of SCQAMD are usually for stationary sources of pollution, but the rules on trucks are an expansion of its authority.
Nikola’s top five executives are taking $1-a-year salaries with huge stock payouts ahead if they restore lost share value.
Arrival, which has a large electric van order from UPS, has selected HERE Technologies to provide turn-by-turn navigation and a location visibility platform for vehicles.
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The Q1 earnings call covers everything but financials as Hyliion Holdings reworks its filings to show stock warrants as liabilities instead of equity.
Workhorse Group built 38 last-mile electric delivery vans in Q1 and revised its build to 1,000 trucks from 1,800 for the full year.
On its first day of public trading, Canada’s Lion Electric announces a plan to build trucks and buses in Illinois, creating 745 new jobs over three years.
Nikola exposes battery-electric Class 8 Tre to 25 fleet customers and gets first firm order for delivery late this year.
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Nikola was early to the SPAC party. Now it is among the first to take a paper loss on stock warrants by following stricter SEC guidelines.
Pennsylvania’s move to scrap fuel taxes could change how states generate revenue to pay for road projects.
Biden’s infrastructure plan becomes a platform for legislation that includes billions in grants for fast-charging truck stations.
Oshkosh can make 100% battery-electric delivery trucks for the U.S. Postal Service, likely dashing Workhorse’s hopes of reigniting the competition.
Despite supply chain constraints, Tier 1 driveline supplier Dana beat analyst expectations for Q1 and raised full-year estimates.
“There’s no reason the yard of the future shouldn’t operate with the click of a button and the power of the sun,” says Outrider CEO Andrew Smith.
Canadian electric truck and bus manufacturer Lion Electric is poised to go public after Northern Genesis Acquisition Corp. shareholders approve SPAC merger.
After a delay in getting hydrogen infrastructure partners, Nikola cuts its second deal in a week, this one withTravelCenters of America.
As hydrogen grows as a fuel source for long-haul trucking, Nikola Motor Corp. is finding ways to bring down the cost of manufacturing the fuel.
Daimler Trucks and Portland General Electric opened their Electric Island charging site as part of a border-to-border charging corridor.
Hyliion Holdings stock is getting hammered along with most electric vehicle startups, but CEO Thomas Healy is staying optimistic.
Incentives help make Volvo VNR Electric Class 8 trucks affordable for a food logistics supplier, whose 14-unit order benefits from a $3.9 million grant.
Daniel Sperling, founding director of the Institute of Transportation Studies at the University of California, Davis, shared his thoughts on the path to reducing emissions in the road freight sector.
Truck Talk is a weekly newsletter where FreightWaves adds context, commentary and color to industry news and trends.
Isuzu trucks will install technology from autonomous vehicle startup Gatik on its medium-duty N-Series truck models.
Research firm Cowen has set a price target of $28.50 per share for EV startup Arrival – more than $10 higher than Monday’s trading price. Cowen cited its unique approach to manufacturing as one reason for its optimism.
Nikola founder and former Executive Chairman Trevor Milton pockets $49 million in sale of electric truck maker’s shares.
Truck Talk is a weekly newsletter where FreightWaves adds context, commentary and color to industry news and trends.
The costs of keeping up with four engine technologies and the pace of self-driving trucks push rival truck manufacturers into partnerships.
The New York City last-mile fleet will have 40 electric vehicles, with the Los Angeles region adding 50 more, IKEA said.
Parcel initiatives are expected to bring in $24 billion in new net revenue by 2020, the agency said in releasing its 10-year reorganization plan.
BorgWarner’s acquisitions in electric components and systems position the Tier 1 supplier to grow its electrification revenue to 45% from 3% by 2030.
UK electric van and bus startup Arrival adds to Charlotte, North Carolina, presence with second US microfactory targeted to fill UPS order.
The soon-to-be parent of Navistar increases electrification investment to $1.9 billion by 2025 and says 80% of its brands’ trucks will be electric by 2030.
South Korean’s Hanwha Group plans to cut 50% of its holdings in Nikola as the electric truck startup seeks to sell $100 million in new shares.
Amazon has started testing Rivian electric delivery vans in San Francisco as part of its planned rollout of 10,000 electric vehicles by 2022.
Lawmakers hear from trucking on outlook for achieving zero-emission vehicle targets
SPAC acquisitions are cropping up with more frequency, and we can only expect more deals to go through in 2021.
Short seller Hindenburg Research alleges fictitious orders and other fraudulent at electric pickup truck startup Lordstown Motors.
Nikola has less need for partners for its hydrogen fueling stations now that it has a sweet price for electricity in Arizona.
Einride conducted a survey to explore women’s views on a career in the trucking industry and how interest was impacted by environmental factors and technological factors such as autonomous trucking and artificial intelligence.
Seventeen Democratic House members introduced a bill to assure the Postal Service electrifies its delivery fleet. It could get Workhorse back in the game.
Stockholm-based electric trucking company Einride conducted a survey to gain insights into women’s views on a career in the trucking industry and how technology and autonomy impact interest.
Roger Nielsen will need a new outlet for his electric and driverless truck passion as the Daimler Trucks North America CEO retires after a 35-year career.
Workhorse expects a “prolonged process” in trying to wrest mail truck business from the U.S. Postal Service that contracted with defense contractor Oshkosh.
The company sets ambitious fleet electrification goals and establishes a center at Yale University to research climate-capture techniques.
A recent survey conducted by Convoy highlights how truck drivers, dispatchers and owner-operators view different sustainable trucking issues and regulations.
Workhorse Group built just seven electric delivery vans for the second consecutive quarter. Production systems and supply chain problems hamper the company.
Workhorse Group is not taking the loss of a contract to make battery-electric mail trucks for the U.S. Postal Service lying down.
Nikola’s Arizona electric truck plant is going up in phases to allow for fast movement and capital control, said Mark Duchesne, global head of manufacturing at Nikola.
The supply chain for electric vehicles has major pinch points in battery components and charging infrastructure.
Borrowing pegged to inflated stock price may become a problem for Workhorse Group in the aftermath of missing out on the U.S. Postal Service contract.
Hyliion will initially buy Peterbilt trucks to equip its Hypertruck ERX and sees fuel cells as an eventual option in to natural gas-powered generators.
Nikola lays out plans for hydrogen-powered fuel cell trucks but offers nothing new on customer reservations.
With medium- and heavy-duty trucks already using its electrified chassis, Xos Trucks will have $575 million to scale its business following a SPAC merger.
Driveline and thermal management supplier Dana Inc. has $700 million in new business from auto and truck makers. Half of it is in electrification contracts.
Kenworth delivered two natural gas-powered T680 hybrid electric trucks to a fleet for drayage testing in California. They are the first and likely the last.
Autonomous vehicle startup Gatik has announced it will deploy electric trucks as part of its autonomous testing in New Orleans with partner Walmart.