Class 8 battery-electric trucks

Kenworth charges forward with next-generation electric trucks

ANAHEIM, Calif. – Kenworth announced last week a major update to its electric vehicle lineup at ACT Expo in Anaheim, California. The company introduced an updated T680E battery-electric truck and launched the industry’s first Class 8 vocational battery-electric truck, the T880E. The announcements come as Kenworth expands its zero-emission vehicle portfolio with advanced powertrain technology, extended range capabilities and new driver-focused features.

The updated T680E and all-new T880E both...

https://www.freightwaves.com/news/kenworth-charges-forward-with-next-generation-electric-trucks

Tesla to trucking industry: Step up your electric game

LAS VEGAS — The Advanced Clean Truck Expo is a come-all event. Until this year, Tesla has passed on attending.

The ACT Expo has outgrown the art deco charm of Long Beach and the “Disney-fied” atmosphere of Anaheim, California. This year, it moved to convention mecca with exhibitors filling the North Hall of the sprawling Las Vegas Convention Center. It returns to Anaheim in 2025, occupying both halls of the convention center in 2025.

Dozens of battery electric, fuel-cell electric and alternative...

https://www.freightwaves.com/news/tesla-to-trucking-industry-step-up-your-electric-game

Nikola electric truck recall price tag $61.8M

Nikola Corp. has set aside $61.8 million to replace the batteries in its recalled electric trucks. The company expects to begin returning repaired trucks to customers in the first quarter.

The accrued liability in third-quarter earnings includes the estimated cost to reengineer, validate and retrofit the 209 recalled battery-electric trucks with an alternative battery pack. Nikola did not identify the supplier.

“Upon further investigation, it was determined that the compromise of the battery...

https://www.freightwaves.com/news/nikola-electric-truck-recall-price-tag-61-8m

Nikola asks customers to return electric trucks at risk of fires

Nikola Corp. is asking dealers and customers to return battery-electric trucks under recall for possible battery fires to its Coolidge, Arizona plant despite the company still working on a fix.

“We’re bringing them back to Coolidge for repairs to be made instead of in the field,” spokesman Dan Passe told FreightWaves in an email Saturday.

“We are able to keep a very close eye on all non-used vehicles (either from inventory or customers who are not running them daily) if they are on site in...

https://www.freightwaves.com/news/nikola-asks-customers-to-return-electric-trucks-at-risk-of-fires

Outrider ready to scale distribution yard autonomy

Outrider autonomous yard tractor next to a line of trailers

Five-year-old startup Outrider is ready to scale its autonomous approach to logistics hubs, aiming to eliminate freight inefficiency.

The Golden, Colorado-based company is releasing a next-generation autonomy kit for yard automation. Over-the-air software updates and the ability to to swap autonomous yard tractors also include remote technical support.

“Distribution yards are harsh industrial environments with around-the-clock operations, Andrew Smith, Outrider founder and CEO, said in a press...

https://www.freightwaves.com/news/outrider-ready-to-scale-distribution-yard-autonomy

Nikola posts first, albeit tiny, gross profit on electric truck chargers

Aerial view of Nikola plant with solar panels

Nikola Corp. posted its first-ever gross profit in Q1, a milestone for the electric truck maker that also recorded 134 heavily incentivized orders from fleets planning to operate in California.

The startup electric truck maker began regular production of its battery-electric Class 8 Tre BEV cabover on March 21. Nikola shipped 11 trucks at the end of April to dealers to fulfill customer orders.

Forty preproduction trucks built in Q1 are being used by dealers as demonstration units. Univar Solutions

https://www.freightwaves.com/news/nikola-posts-first-albeit-tiny-gross-profit-on-electric-truck-chargers

Nikola names veteran automotive executive as president to guide global growth

Nikola Corp. has named Michael Lohscheller as its new president, reporting to CEO Mark Russell who gave up the president’s title.

Lohscheller’s career includes leadership roles in finance, technology, purchasing and logistics at Volkswagen, where he also was executive vice president of Volkswagen Group of America. In addition, he led European brand Opel to profitability under General Motors and Stellantis ownership.

He was recruited to the CFO role at Opel by Steve Girsky, Nikola’s chairman, who...

https://www.freightwaves.com/news/nikola-names-veteran-automotive-executive-as-president-to-guide-global-growth

Flatbed hauler PGT Trucking intends to lease 100 Nikola fuel cell trucks

Electric truck maker Nikola Corp. has a letter of intent for 100 fuel cell electric trucks from flatbed hauler PGT Trucking, converting a piece of its 14,000-unit reservation book for hydrogen-powered FCETs that has Anheuser-Busch at the front of the line.

Deliveries of fuel cell-equipped Tre daycabs capable of up to 500 miles of range are scheduled to begin in 2023. Early builds are underway at Nikola’s new plant in Coolidge, Arizona. The first two trucks will be road-tested by Anheuser-Busch,...

https://www.freightwaves.com/news/flatbed-hauler-pgt-trucking-intends-to-lease-100-nikola-fuel-cell-trucks

Cash-strapped Nikola expands equity-for-credit line to $600M

Electric truck startup Nikola Corp. is doubling the size of its stock-for-credit line with a private lender to $600 million, enough credit to ramp up production through 2022, the company said Monday.

Nikola (NASDAQ: NKLA) will sell up to $300 million shares to Tumim Stone Capital at a 3% discount and make an up front payment of  252,040 shares worth $3,011,878 at Monday’s closing price of $11.95. The 75 basis points up front and the discount are the same as the terms of the first $300 million...

https://www.freightwaves.com/news/cash-strapped-nikola-expands-equity-for-credit-line-to-600m

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