Canoo

Megawatt grants electrify truck charging corridors

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Startup electric truck infrastructure developer WattEV won’t say how much money it has raised from...

https://www.freightwaves.com/news/megawatt-grants-electrify-truck-charging-corridors

Carnage grows among transportation startups

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In the world of electric vehicle and autonomous trucking startups, the picture of winners and losers...

https://www.freightwaves.com/news/carnage-grows-among-transportation-startups

Canoo gets lifeline from Walmart in electric delivery van deal

Blue Canoo lifestyle delivery vehicle on blue background

Startup electric vehicle maker Canoo Inc., which said as recently as May there was “substantial doubt” about its survival. It appears safe for the moment thanks to Walmart’s purchase of 4,500 of its lifestyle delivery vehicles.

The announcement Tuesday morning before the opening bell on the Nasdaq sent Canoo (NASDAQ: GOEV) shares soaring. It more than doubled in price before falling back to a 53%, gain, closing at $3.63 Tuesday.

Walmart signed a definitive agreement with Canoo for its LDV with an...

https://www.freightwaves.com/news/canoo-gets-lifeline-from-walmart-in-electric-delivery-van-deal

Truck Tech: SPAC shenanigans edition

This week, Electric Last Mile Solutions becomes another data point for those who argue shady dealings are a byproduct of SPAC mergers; Hyliion recruits another all-star board member but investors would rather see hybrid truck contracts generating revenue; and Paccar extends its deal for Meritor’s integrated electric powertrain.

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The shady side of SPACs

The stock shenanigans that took down the top two...

https://www.freightwaves.com/news/truck-tech-spac-shenanigans-edition

Starting over: Workhorse overhaul could lead to more than electric vans

Workhorse Group reported negative revenue and profits in Q3 as new CEO Rick Dauch grounded production of the C-1000 electric delivery van, jettisoned 25% of the hourly workforce, overhauled the executive leadership and dropped a lawsuit against the U.S. Postal Service over the company’s unsuccessful bid to build battery-powered mail trucks.

The Loveland, Ohio-based company also acknowledged Tuesday that it is being investigated by the Securities and Exchange Commission and the Department of...

https://www.freightwaves.com/news/starting-over-workhorse-overhaul-could-lead-to-more-than-electric-vans

Q&A: FRONTdoor Collective executives explain importance of franchised DSP network

To keep up with rising demand, e-commerce platforms and merchants have relied on delivery service partners (DSPs) to provide a dependable last-mile delivery experience. 

Now, founders and executives with experience from FedEx, Walmart, XPO, Amazon, Instacart and the U.S. military have come together to form the FRONTdoor Collective (FDC), a network of franchised DSPs.

With more than 100 franchisees with experience in delivering for companies like Amazon (NASDAQ:AMZN), XPO (NYSE:XPO), Axlehire and...

https://www.freightwaves.com/news/qa-frontdoor-collective-executives-explain-importance-of-franchised-dsp-network

Truck Talk: Proxy plumbing edition

This week, we’re looking at the salaries of some CEOs at de-SPACed electric vehicle startups whose share values are plummeting, and the 15-year anniversary of a technology that literally drives the industry.

The de-SPACed pay picture

Proxy materials typically don’t make scintillating reading. But a company’s top earners can be interesting, especially when the CEOs hold the majority interest in their companies — and draw a salary and other dollar-denominated perks.

We’ve seen a couple of paper...

https://s29755.pcdn.co/news/truck-talk-proxy-plumbing-edition

Truck Talk: Pancakes and chicken edition

Welcome back to Truck Talk. Subscribe here to get it in your inbox every Friday. 

This week, we’re looking at TravelCenters of America resuming conversion of restaurants to International House of Pancake outlets; Bosch’s new semiconductor plant that, while impressive, is too late to help with the current chip shortage, and a very busy week at Mack Trucks.

With sprinkles on top

The deal to convert up to 94 TravelCenters of America restaurants into International House of Pancakes outlets preceded CEO...

https://s29755.pcdn.co/news/truck-talk:-pancakes-and-chicken-edition

Tiny electric delivery vans occupy former home of hulking Hummer H2

The tale of Electric Last Mile Systems (ELMS) brims with irony. 

The startup’s Class 1 battery-powered delivery vans will be assembled in the plant where the hulking Hummer H2 SUV came off the line from 2003 to 2009.

Jim Taylor, the same executive who ran Hummer at General Motors (NYSE: GM), led talks to sell the brand to Sichuan Tengzhong Heavy Industrial Machinery as GM teetered on the edge of an eventual bankruptcy reorganization in 2009. The deal fell apart in February 2010 and GM mothballed...

https://s29755.pcdn.co/news/tiny-electric-delivery-vans-occupy-former-home-of-hulking-hummer-h2

The Daily Dash: FMCSA eases CDL restrictions; Schneider boosts pay

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, federal regulators have issued a final rule to ease restrictions for drivers seeking to obtain a commercial driver’s license. Plus, Schneider has boosted driver pay again and Navistar reports lower sales and earnings in what is likely its final earnings report as an independent company.

FMCSA issues rule to ease requirements to obtain a CDL

Federal regulators issued a final rule Thursday to make it...

https://s29755.pcdn.co/news/the-daily-dash-fmcsa-eases-cdl-restrictions-schneider-boosts-pay

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