Nikola

Breaking news: Trevor Milton out of Nikola Motors

Sources close to the embattled fuel cell truck manufacturer are reporting that founder Trevor Milton has resigned as Executive Chairman of Nikola Motors (NASDAQ: NKLA) and has departed the company effective immediately.

He will remain as one of the company’s largest shareholders, but will not have a say in how the company is managed going forward. Sources tell FreightWaves that the decision was Milton’s, in an effort to protect the company and his investment. Milton owns approximately 82...

https://s29755.pcdn.co/news/breaking-news-trevor-milton-out-of-nikola

The Daily Dash: Hindenburg continues attack on Nikola; OOIDA pushes for more truck parking

Nikola Tre electric truck

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, short seller Hindenburg Research continued to lob allegations of wrongdoing at Nikola Corp. Plus, OOIDA said it will renew its push for more funds for truck parking when the next Congress convenes, and TFI International expands its presence in the U.S. logistics market.

Hindenburg continues Nikola attack

Hindenburg Research, the short seller that successfully beat down Nikola’s share price, reloaded...

https://s29755.pcdn.co/news/the-daily-dash-hindenburg-continues-attack-on-nikola-ooida-pushes-for-more-truck-parking

FreightCasts Weekly Recap (9/7-9/13)

You can find every FreightWaves podcast conveniently in one feed via the free FreightCasts channel on freightwaves.com/podcasts, iTunes, Spotify or wherever podcasts are found. 

Subscribe to FreightCasts and never miss a FreightWaves podcast.

The full list of FreightWaves media can be streamed via the FreightWavesTV app available for your smartphone, Apple TV, Roku and Fire TV. The app is free on all platforms.

Users of the FreightWavesTV app also have access to a full lineup of FreightWavesTV...

https://www.freightwaves.com/news/freightcasts-weekly-recap-9-7-9-13

The Daily Dash: Nikola turmoil, Trimble layoffs and HOS changes

Trevor Milton of Nikola

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, a short seller has laid out a blistering report on Nikola, suggesting the company is perpetrating a fraud on investors. Plus, Trimble has announced layoffs within its transportation business, hours-of-service changes could impact safety and YRC’s issues linger.

Not everything is as it seems

Nikola Corp. (NASDAQ: NKLA) has been a media and industry darling of late, but a report from a recognized short...

https://s29755.pcdn.co/news/the-daily-dash-nikola-turmoil-trimble-layoffs-and-hos-changes

Nikola, Hyliion defend divergent paths to zero-emission trucking

Hybrid electric powertrain maker Hyliion Inc. is working on a hydrogen fuel cell version of its Class 8 ERX Hypertruck. But don’t be confused. The long-term plan still calls for a renewable natural gas-powered generator to make electricity onboard, according to CEO Thomas Healy.

Using any fossil fuel, renewable or not, is a pathway to failure, said Trevor Milton, founder and executive chairman of startup Nikola Corp. (NASDAQ: NKLA) Nikola plans to build and sell grid-powered battery-electric...

https://s29755.pcdn.co/news/nikola-hyliion-defend-divergent-paths-to-zero-emission-trucking

Borderlands: Survey highlights China’s dominance of rare earth metals; Coca-Cola FEMSA acquires 45 Kenworth trucks

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Concern for China’s supply dominance of rare earth metals; CEVA Logistics to operate a warehouse for IKEA in Mexico; Coca-Cola FEMSA acquires 45 Kenworth trucks; Nikola’s new factory to rely on cross-border supply chain.

Survey shows concern for China’s supply dominance of rare earth metals 

Reducing the supply reliance on China’s domination of strategic metals is a...

https://s29755.pcdn.co/news/borderlands-survey-highlights-chinas-dominance-of-rare-earth-metals-coca-cola-femsa-acquires-45-kenworth-trucks

The Daily Dash: Excess insurance; can autonomous vehicles fit in the last mile?

Truck insurance

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, fleets looking for excess insurance coverage are paying handsomely for it — if they can even find it. Plus, Landstar sees good times ahead, Waymo plans to test autonomous vehicles in the last mile, and Nikola breaks ground on a new manufacturing plant.

If you want excess insurance, you will pay for it

Many fleets turn to excess insurance to provide additional protection against claims beyond what...

https://www.freightwaves.com/news/the-daily-dash-excess-insurance-can-autonomous-vehicles-fit-in-the-last-mile

The Daily Dash: Freight volumes, capacity and earnings remain strong

The Daily Dash is a quick look at what is happening today in the state of freight.

Freight volumes remain strong through July 

There was little evidence that freight volumes would weaken beyond the Fourth of July holiday peak — and this bullish outlook proved correct. The outbound tender volume index (OTVI) remains strong after the traditional holiday peak and finished this week 25% above 2019 volumes. Truck capacity remains tight. Tender rejections climbed again this week and are now at 16.55%. 

S...

https://s29755.pcdn.co/news/the-daily-dash-freight-volumes-capacity-and-earnings-remain-strong

Fuel cell trucks enroute from Korea to Switzerland

Hyundai Motor Co. (OTC: HYMTF) is shipping the first 10 of its mass-produced Xcient hydrogen-powered fuel cell heavy-duty trucks from South Korea to Switzerland, where fleets will take possession in September. 

Hyundai plans to ship 50 trucks by the end of the year and 1,600 by 2025.

While startup Nikola Motors (NASDAQ: NKLA) plans Class 8 fuel cell truck production from a new plant south of Phoenix in 2023, Hyundai revealed plans with Swiss company H2 Energy and a prototype at the IAA Commercial...

https://www.freightwaves.com/news/fuel-cell-trucks-enroute-from-korea-to-switzerland

Xos electric truck startup edging toward low-volume production

Xos Trucks leaders

Despite help from a Google map on a sunny February afternoon, finding the headquarters of  Xos Trucks in North Hollywood, California, was not easy. Block letters on a window to the left of the building’s recessed entry was the only signage.

Most Xos employees work from home these days because of the coronavirus pandemic. A few workers test battery packs and perform other duties in the back of the building, whose neighbors include an auto repair garage and a thrift shop.  

Though unintentional,...

https://s29755.pcdn.co/news/xos-electric-truck-startup-edging-toward-low-volume-production

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