With recent financing from major fleets, TuSimple eschewed the blank check company frenzy to chart its own course to public trading.
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Daimler AG will create a stand-alone truck business, separating Daimler Trucks from the Mercedes-Benz passenger vehicle business to focus on zero-emissions technologies.
Navistar is selling an engine-testing facility in Illinois to an industrial park developer, laying off 250 employees by the end of the year. The need for engine testing is shrinking amid the industry transition to alternative propulsion like battery-electric vehicles.
German newspaper Handelsblatt says Daimler AG may spin off Daimler Trucks in 2021 to spare it the drag of Mercedes-Benz’s financial struggles.
Navistar reported lower sales and earnings in its fiscal Q4 and for all of 2020 as it prepares to become part of Volkswagen’s TRATON Group.
Autonomous truck maker TuSimple makes a deal with TRATON GROUP to expand into the European market and KLLM raises driver wages.
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.
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.
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.
The autonomous trucking company partners with Volkswagen’s TRATON Group on a Swedish autonomous truck program.
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.
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?
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.
The departure of Andreas Renschler as CEO of TRATON assures that new executives at TRATON and Navistar will oversee what most see as an inevitable combination.
After extending CEO Troy Clarke’s tenure as CEO three times, Navistar International Corp. has chosen Chief Operating Officer Persio Lisboa as his successor.
With Texas halting business reopenings because of a surge in coronavirus cases, Navistar executives and others who would have tossed shovels full of dirt instead read prepared remarks over the internet to kick off construction of a $250 million high-tech plant.
Navistar included only one full month of impact from the COVID-19 pandemic in its loss-making second quarter. How bad will it be for manufacturers who report on a traditional April-June quarter?
Volkswagen truck holding company Traton Group urges a Euro-style “cash for clunkers” program to boost new truck purchases following lower first-quarter sales, profits and orders.
ACT Research cannot model downturn scenarios fast enough for Class 8 trucks, but high inventory levels make the coronavirus crisis a good time to take a production break as demand is practically nonexistent.
