SAN JOSE, Calif. — Nestled among flat-roofed Silicon Valley startups in an unassuming tree-lined neighborhood, Tula Technology is perfecting its Dynamic Skip Fire engine controls for diesel and electric truck powertrains that could clear expected 2027 regulatory emissions hurdles — and save a lot of fuel in the process.
The private company doesn’t care if you’ve never heard of it as long as automotive and commercial vehicle manufacturers have. Through regular appearances at industry confabs,...
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...
Rick Dauch isn’t fooling around.
The new CEO at Workhorse Group is halting sales of the company’s long-delayed and production-challenged electric delivery vans because customers want more cargo capacity and a better design.
And Workhorse (NASDAQ: WKHS) is recalling 41 vans already in customer possession because it cannot vouch for their safety. The company said it has not received any customer complaints about safety but it is alerting the Securities and Exchange Commission about the issue.
“The...
Quarter after quarter of missed production targets finally caught up with Workhorse Group CEO Duane Hughes, ousted Thursday at the electric delivery van maker and replaced by auto industry veteran Rick Dauch.
Workhorse (NASDAQ: WKHS) has produced very few composite body electric vans in each of the past few quarters. Supply chain disruptions are the latest setback following a decision to change battery suppliers and a COVID outbreak that affected 36% of the workforce.
The company failed to meet...
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
BorgWarner Inc. (NYSE: BWA) has completed its takeover of Delphi Technologies, the last vestige of the once-vast General Motors Co. (NYSE: GM) Worldwide Components Group.
The $3.3 billion stock deal positions BorgWarner to grow as a leader in electrified propulsion systems for cars and heavy-duty trucks. The merger was announced in January. BorgWarner and Delphi Technologies estimate they generated $10.17 billion and $4.36 billion in net sales respectively in the 2019 fiscal year.
It is the...
https://s29755.pcdn.co/news/borgwarner-completes-33-billion-takeover-of-delphi-technologies