Meritor

Split-off gain masks some cracks in Cummins’ financial armor

Cummins Inc. recorded a massive one-time gain from the split-off of its filtration business. But first-quarter revenue dropped as weakening business conditions impacted the engine maker and power distribution giant.

The Tier 1 supplier of truck engines and power systems for data centers and other businesses reported Q1 revenue of $8.4 billion. That was down 1% from a year ago. The number missed analyst estimates by $50 million. Sales in North America were flat. International revenues fell 1% due...

https://www.freightwaves.com/news/split-off-gain-masks-some-cracks-in-cummins-financial-armor

Nikola whistleblower enriched by short seller may get more $$$

Paul Lackey worked as a contractor for Nikola in the early days of the electric truck company. On the witness stand in Trevor Milton’s fraud trial this week, he spoke of a founder more interested in making money than cleaning up the environment. 

But Lackey wasn’t exactly a dream witness for the prosecution. He collected about $600,000 in stock sale proceeds after aligning himself with short sellers that nearly crushed the startup.

As the prosecution’s first witness on Tuesday in a trial expected...

https://www.freightwaves.com/news/nikola-whistleblower-enriched-by-short-seller-may-get-more

Truck Tech: Hypertruck first drive edition

The story of Hyliion’s extended-range Class 8 truck is more complex than just battery-electric power. We took the first media ride and drive in Austin, Texas, this week. Another makeover of a trailer maker as Great Dane freshens up its brand. And the best of the rest.

Checking out Hyliion’s Hypertruck

Hyliion Holdings hosted me for a quick visit to its Austin, Texas, headquarters for a ride and drive of its Hypertruck ERX. The Peterbilt Model 579-based natural gas and battery-powered hybrid Class...

https://www.freightwaves.com/news/truck-tech-hypertruck-first-drive-edition

ACT Expo: Shell Starship 2.0 — a diesel intruder at an electric truck show

LONG BEACH, Calif. — In the 1987 film “The Untouchables,” the late actor Sean Connery sarcastically accused a would-be assailant of bringing “a knife to a gunfight.”

The presence of the diesel-powered Shell Starship 2.0 at this week’s Advanced Clean Transportation Expo is a sort of metaphor for the famous scene, a pivotal moment in the Prohibition-era crime drama.

Diesel fuel is no more the point of Shell’s futuristic technology test bed for freight efficiency than the knife-wielding mobster who...

https://www.freightwaves.com/news/act-expo-shell-starship-20-a-diesel-intruder-at-an-electric-truck-show

Truck Talk: Safety sells edition

Welcome back to Truck Talk. Was this forwarded to you? Subscribe here for delivery to your inbox every Friday.

This week, we’re looking at some impressive outcomes from truck safety technology; a couple of dump truck developments (because dump trucks are cool) and the definition of a pre-order.

This stuff really works

Daimler Trucks North America was the first to show off limited hands-free driving in its 2020 model Cascadia flagship. The suite of technologies included active braking, active lane...

https://www.freightwaves.com/news/truck-talk-safety-sells-edition

The Daily Dash: Schneider’s youth movement; UPS CEO talks UPS Freight sale

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, Schneider National plans to invest in new equipment in 2021 as it seeks to lower the age of its tractors. Plus, UPS CEO Carol Tomé talks about the sale of UPS Freight, and the world reacts to Jeff Bezos stepping down as CEO of Amazon.

Youth movement

Schneider National (NYSE: SNDR) plans to invest in new equipment to lower the age of its trucks in 2021, using a cash balance to help fund the initiative.

https://www.freightwaves.com/news/the-daily-dash-schneiders-youth-movement-ups-ceo-talks-ups-freight-sale

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

Kenworth begins taking orders for Class 8 electric truck

Kenworth will launch its first-ever Class 8 battery-electric truck in the U.S. and Canada in 2021, joining other major truck makers producing zero-emission heavy-duty models.

The volume of orders across the industry likely will be small as fleets measure the total cost of ownership against the higher up-front purchase price of an electric truck. With thousands of fewer parts, maintenance costs will be lower. The price of electricity to power the batteries could be cheaper over time than diesel...

https://s29755.pcdn.co/news/kenworth-begins-taking-orders-for-class-8-electric-truck

Meritor Q3 fiscal results reflect worst of pandemic

Meritor Inc. (NYSE: MTOR) reported coronavirus pandemic-impacted losses in its fiscal third quarter despite layoffs and pay cuts.

The supplier of commercial vehicle and industrial drivetrains, as well as mobility, braking and aftermarket components lost $36 million, or 50 cents per diluted share, in the April-June period. That compared to income of $86 million, or $1 per diluted share, in the same quarter of 2019.

The adjusted loss from continuing operations was $34 million, or a loss of 47 cents...

https://www.freightwaves.com/news/meritor-q3-fiscal-results-reflect-worst-of-pandemic

PACCAR moves deliberately on electric and driverless trucks

PACCAR electric truck

PACCAR Inc. (NASDAQ: PCAR) isn’t rushing electric trucks to market. But it says its Kenworth, Peterbilt and European DAF brands will sell them at the right time.

“Our goal is to make sure that we’re in a position to provide our customers the lowest-operating-cost vehicles whenever the market is ready, when there’s infrastructure, when there’s regulation and when the technology is ready,” CEO Preston Feight said Tuesday.

“It’s [the] early days, and we feel like we’re really on top of it, and we’re...

https://s29755.pcdn.co/news/paccar-moves-deliberately-on-electric-and-driverless-trucks

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