Dana Inc.

Truck Talk: Deal or no deal edition

This week, we’re following TuSimple Holdings Inc.’s $1.1 billion IPO as well as merger prospects for Tula Technology, which makes cylinder-skipping engine controls that dramatically reduce planet-warming greenhouse gases.

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Safe at home

TuSimple’s (NASDAQ: TSP) big news this week was, of course, its initial public offering as it became the first autonomous trucking software developer to go public. With enough money in the bank to get the company to its...

https://s29755.pcdn.co/news/truck-talk-deal-or-no-deal-edition

BorgWarner plans 15X growth in electrification revenue by 2030

BorgWarner Inc. (NYSE:BWA) plans to grow its electric vehicle revenue from less than 3% to about 45% of its top line by 2030. The Tier 1 supplier will shed existing businesses worth up to $4 billion to get there.

The Michigan-based supplier last October completed a $3.3 billion acquisition of Delphi Technologies, once part of the world’s largest automotive supplier. In February, it announced an $880 million takeover of European battery maker AKASOL.

“Now is the time to move away from a balanced...

https://www.freightwaves.com/news/borgwarner-plans-15x-growth-in-electrification-revenue-by-2030

9 questions with Daimler Trucks North America CEO Roger Nielsen

Freightliner dealers in the American Southwest should be on the lookout for Daimler Trucks North America (DTNA) CEO Roger Nielsen. He is taking one final motor-home tour and playing secret shopper before officially retiring April 30.

“I usually just show up and go into the parts department, and usually something’s broken. Nothing major, like lost hub nut covers,” he said. “But, hey, you can always use DEF (diesel exhaust fluid).”

Freightliner Custom Chassis Corp. builds the chassis on which the...

https://s29755.pcdn.co/news/9-questions-with-daimler-trucks-north-america-ceo-roger-nielsen

Truck Talk: Flying things edition

This week, we go airborne with the Workhorse Horsefly drone, consider a high-flying SPAC for a vertical-takeoff-and-landing jet maker and dive deeper into Cummins’ deal to make medium-duty engines for Daimler Truck.

Click here to get Truck Talk delivered via email at 11 a.m. every Friday.

Gonna fly now

So much has been made of Workhorse Group’s losing out on the U.S. Postal Service contract for next-generation mail trucks that it was easy to overlook the update on the company’s truck-mounted...

https://www.freightwaves.com/news/truck-talk:-flying-things-edition

Dana books half of $700M backlog from electrification contracts

Dana Inc. (NYSE: DAN) lost $31 million in 2020. But a $700 million book of new business — half in electric powertrains — should drive profit margins higher even as spending rises.

The maker of drivelines for internal combustion engines and integrated electric powertrain systems points to several new contracts boosting its profit margin to 12% by 2023. They include an electrified powertrain for a medium-duty chassis for Freightliner Custom Chassis Corp. Production begins in the third quarter. 

Maum...

https://s29755.pcdn.co/news/dana-books-half-of-$700m-backlog-from-electrification-contracts

Meritor readies integrated electric powertrain for heavy-duty trucks

Meritor Inc. (NYSE: MTOR) will begin producing a fully integrated all-electric powertrain for heavy-duty trucks, freeing up space for additional batteries while cutting up to 800 pounds from the weight of a conventional chassis.

“We’re not just bolting that onto our axle. We’re integrating it, and that saves space and it saves weight,” said John Bennett, Meritor vice president and chief technology officer. “To do that effectively and reliably is no small task.”

Bennett claims the Blue Horizon...

https://www.freightwaves.com/news/meritor-readies-integrated-electric-powertrain-for-heavy-duty-trucks

FreightWaves Truck Talk: Inside job edition

This week we’re looking at the latest at Workhorse Group; new parts and components for Kenworth and Mack heavy-duty trucks; burgeoning growth in Daimler Trucks parts stores; and  the never-ending debate over battery-electric versus hydrogen fuel cells.

Five trucks a day

Workhorse Group (NASDAQ: WKHS) is shooting to build about five of its C-Series electric delivery vans a day this quarter and double production to 10 a day later this year. That’s according to Chief Financial Officer Steve...

https://s29755.pcdn.co/news/freightwaves-truck-talk-inside-job-edition

Run on Less demonstration plugs into electric vehicles

Electric trucks from vans to semi-tractors are the subjects of the next Run on Less demonstration by the North American Council for Freight Efficiency (NACFE).

The first two Run on Less exercises focused on how to improve the fuel efficiency of diesel-powered heavy-duty trucks in long-haul and regional use.

The NACFE Run on Less-Electric (RoL-E) study with the Rocky Mountain Institute (RMI) will seek to show what technology works and what needs work in battery-powered electric vehicles and the...

https://s29755.pcdn.co/news/run-on-less-demonstration-plugs-into-electric-vehicles

Hyliion hauls in $142 million from sale of stock warrants

Startup hybrid electric truck driveline maker Hyliion Holdings (NYSE: HYLN) is $142 million better off following the sale of shares converted from warrants issued by the blank check company (SPAC) that brought Hyliion public.

Interestingly, Hyliion doesn’t need the money to run the business. Its reverse merger with Tortoise Acquisition Corp. in October 2020 gave Hyliion $520 million after expenses to fund its business plan.

“This incremental capital allows us to pursue additional partnerships and...

https://s29755.pcdn.co/news/hyliion-hauls-in-142-million-from-sale-of-stock-warrants

Dana builds electrification vertical for commercial vehicles

Dana Inc. (NYSE: DAN) spotted the trend toward commercial vehicle electrification four years ago when China offered incentives for smog-beating battery-powered buses. Since then, the Tier 1 automotive supplier has purchased and partnered its way to create all-in zero-emission electric powertrain systems.

The 117-year-old company was founded by Charles Spicer and later joined by Charles Dana. The company invented the first encased universal joint that eliminated sprockets and chains in automotive...

https://s29755.pcdn.co/news/dana-builds-electrification-vertical-for-commercial-vehicles

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