Lion Electric
Nikola says it may run out of money in next 12 months
Nikola Corp. said in a government filing Thursday that it may run out of money in the next 12 months and have to “modify or terminate” its business.
The startup booked $6.5 million in revenue in the fourth quarter. But the cost of those sales was more than seven times the revenue generated. Such is the life of a startup trying to launch battery-electric vehicles (BEVs) and fuel cell-electric Class 8 trucks and simultaneously start a hydrogen production, distribution and sales business.
While the...
https://www.freightwaves.com/news/nikola-books-q4-revenue-but-it-was-really-expensive
Nikola dice que podría quedarse sin dinero en los próximos 12 meses
Nikola Corp. dijo en una presentación ante el gobierno el jueves que podría quedarse sin dinero en los próximos 12 meses y tener que “modificar o terminar” su negocio.
La startup obtuvo unos ingresos de 6,5 millones de dólares en el cuarto trimestre. Pero el costo de esas ventas fue más de siete veces superior a los ingresos generados. Así es la vida de una startup que intenta lanzar vehículos eléctricos de batería (BEV) y camiones de clase 8 eléctricos de pila de combustible y, al mismo...
Truck Tech: Snowy reception edition
Welcome to Truck Tech. Was this forwarded to you? Sign up here to receive the latest news, perspective and context in autonomy, electrification and other trucking technology on Fridays by email.
This week, Embark Trucks tests Level 4 autonomy in the snow; Volvo Trucks boosts the driving range of the VNR Electric to 280 miles; Waymo Via gets engaged to J.B. Hunt; and more.
Let it snowWhen developers of driverless trucks talk about “edge” cases — the unusual and unforeseen happenings that can...
https://www.freightwaves.com/news/truck-tech-snowy-reception-edition
Truck Talk: Trash talking edition
This week, we’re talking trash. Not what’s in it, but what moves it. The frequent stop-and-go operation of garbage trucks make them ideal for electrification. So why aren’t they being adopted more quickly?
Waste notIs there a better vehicle candidate for electrification than the unlovable garbage truck?
They start and stop for a living. Regenerative braking captures energy to put it back into the battery. Garbage is still going to be smelly. But take away the diesel fumes spewing from the...
https://www.freightwaves.com/news/truck-talk-trash-talking-edition
Embark Trucks: Autonomous testing pioneer latest to join SPAC parade
Embark Trucks Inc., the first autonomous trucking software company to hit the highway, is the latest to join the SPAC parade to public trading.
The Mountain View, California, startup, founded in 2016, completed a 2,400-mile cross-country trip from Los Angeles to Jacksonville, Florida, two years later using autonomous software monitored by a human safety driver and an autonomous engineer.
The proposed business combination with special purpose acquisition company (SPAC) Northern Genesis...
Newly public Lion Electric will build electric trucks in Illinois
On its first day of public trading, Canada’s Lion Electric Co. made good on a pledge to expand manufacturing in the U.S., investing $70 million to convert a partially finished warehouse in Joliet, Illinois, into a plant to build electric trucks and buses.
At least 745 new jobs are expected to be created over the next three years.
Lion, based in St. Jerome, Quebec, is expected to receive about $490 million after expenses in a business combination completed Thursday with Northern Genesis...
https://s29755.pcdn.co/news/newly-public-lion-electric-will-build-electric-trucks-in-illinois
Lion Electric SPAC wins shareholder approval
Lion Electric is set to go public after shareholders of special purpose acquisition company (SPAC) Northern Genesis Acquisition Corp. (NYSE: NGA) approved a merger Friday with the Canadian electric truck and bus manufacturer.
Quebec-based Lion will trade on the New York Stock Exchange and the Toronto Stock Exchange under the symbol LEV once the transaction closes.
The company announced its plans to go public via a SPAC merger in November saying it would help fund a U.S. manufacturing facility...
https://www.freightwaves.com/news/lion-electric-spac-wins-shareholder-approval
Transmission: Electric delivery trucks from Volvo, Lion get ready to roll in California and Canada
It’s a good day to breathe a bit easier. The number of all-electric trucks headed out to make local deliveries is growing. Whether you’re in Southern California or a major Canadian city, all-electric trucks will be coming your way by the end of 2022, with some going into service by this fall.
Volvo announces largest-ever VNR Electric order, now has over 100 to deliver in two years
Last week we mentioned how Daimler is now taking orders for its new all-electric delivery trucks, the medium-duty eM2...
IKEA to electrify last-mile delivery in Canada with Lion Electric
IKEA and its last-mile delivery partner in Canada, Second Closet, will deploy 15 all-electric Lion Electric trucks this fall in Canada.
The vehicles making deliveries for IKEA Canada will operate in Bocherville, Quebec; Etobicoke, Ontario; and Richmond, British Columbia. They are Lion6 heavy-duty zero-emission vehicles and will play a significant role in IKEA’s broader sustainability effort, the company said.
“Electrifying our last mile delivery service is an important step in our journey to...
https://www.freightwaves.com/news/ikea-to-electrify-last-mile-delivery-in-canada-with-lion-electric