The Daily Dash is a quick look at what is happening today in the freight ecosystem. In this edition, California is mandating electric-truck sales, and some other states may follow suit. Plus, drivers facing life-or-death situations shouldn’t worry about hours-of-service violations and why are investors so interested in electric-truck makers?
As California goes, so goes the nation
When California announced the world’s first electric-truck sales mandate, it garnered headlines and its fair share of critics who said industry would leave the state. There may be fewer states to go to, though, as several have said they will review the California rules and could implement similar mandates.
Linda Baker has more on the continuing fallout of the decision: What happens in California doesn’t stay in California
Be safe, even if it means violating HOS rules
Drivers who fear for their safety have an out, the Federal Motor Carrier Safety Administration says. In a tweet, the agency has told drivers who have reasonable fear for their safety due to civil strife they can use an emergency exception to exceed hours-of-service driving limits to complete their trip.
John Gallagher has more on when drivers can use this exception: FMCSA: Drivers fearing for their safety can tap HOS exception
That’s a lot of money
Electric-truck startup Rivian has secured $2.5 billion in new financing, adding to the $1.3 billion it raised in 2019, bringing its overall total to almost $6 billion. The company, which started out building adventure vehicles, has an order from Amazon for 1,000 of its electric vans.
Linda Baker has more about the company and its future: Electric truck maker Rivian secures $2.5B in new financing
Stories drive value, product be damned
Electric-truck startups, most of which have yet to deliver production vehicles, have found no shortage of investors. Stocks of companies like Nikola Motors, Workhorse Group and Hyliion have jumped in recent months as interest in electrification grows and investors bank on an electrified future.
Alan Adler breaks down what that means for the companies: Electric truck story stocks drive market enthusiasm
Stories we think you’ll like:
Did you miss this?
Technology transition periods can be rough for any company. Werner Enterprises (NASDAQ: WERN) is finding that out as it moves from Omnitracs’ ELD platform to one provided by Platform Science. To ease that transition, Werner asked for and received exemptions from federal regulators from certain data requirements for up to eight days as drivers make the switch. While most praised the flexibility offered, there are some critics.
John Gallagher has more details on this potentially precedent-setting ruling: Regulators give relief to Werner during ELD transition
Hammer down, everyone.