Romeo Power Inc.

Bankrupt Proterra delays auctions of electrification businesses

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Bankrupt electric bus, battery and infrastructure developer Proterra Inc. has delayed the auction...

https://www.freightwaves.com/news/bankrupt-proterra-delays-auctions-of-electrification-businesses

Nikola will replace batteries in fire-prone electric trucks

Nikola Corp. is telling customers it will replace the battery packs in its electric trucks, a worst-case scenario following several fires. Nikola is bringing all the trucks back to its Arizona plant but won’t say where or when it will get pack replacements.

In most recalls, the supplier of the part or component involved bears at least some of the cost of the campaign. In Nikola’s case, it owned its since-liquidated former supplier, Romeo Power Inc. It is therefore on the hook for the full cost...

https://www.freightwaves.com/news/nikola-will-replace-batteries-in-fire-prone-electric-trucks

Who wants a piece or two of Proterra?

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Those surprised by Proterra Inc.’s Chapter 11 bankruptcy filing earlier this month probably should...

https://www.freightwaves.com/news/who-wants-a-piece-or-two-of-proterra

Another electric transportation startup may hang a ‘For Sale’ sign

Lightning eMotors is asking shareholders to agree to authorize 20% more stock to boost its dwindling supply of cash. Otherwise, the bus, shuttle van and work truck maker may put itself up for sale or be forced into bankruptcy.

“We continue to explore all options and have been working with financial advisers to support a recapitalization and/or sale of the business,” co-founder and CEO Tim Reeser said on a second-quarter earnings call with analysts Monday.

Shareholders vote Aug. 24 on whether to...

https://www.freightwaves.com/news/another-electric-transportation-startup-may-hang-a-for-sale-sign

Nikola will recall 209 battery-electric trucks following 2 fires

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Nikola will recall approximately 209 Class 8 battery-electric vehicles (BEVs) and temporarily halt...

https://www.freightwaves.com/news/nikola-will-recall-209-battery-electric-trucks-following-2-fires

Proterra won’t fight Nasdaq delisting following bankruptcy filing

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Electric bus and battery maker Proterra Inc. won’t fight its Aug. 17 delisting from the Nasdaq as it...

https://www.freightwaves.com/news/proterra-wont-fight-nasdaq-delisting-following-bankruptcy-filing

Volvo, Mack replacing batteries on electric trucks because of fire risk

Volvo Trucks North America and Mack Trucks are recalling nearly all the battery-powered electric trucks made over the past four years because of an issue that can cause a battery fire.

The recall is the fourth for the trucks since they entered series production in 2022. The latest recall affects 173 Volvo and nine Mack vehicles built between April 1, 2019, and Feb. 10, 2023. 

Battery-powered electric trucks are still relatively new on the market. Some of the issues are consistent with new...

https://www.freightwaves.com/news/volvo-mack-replacing-batteries-on-electric-trucks-because-of-fire-risk

Carnage grows among transportation startups

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In the world of electric vehicle and autonomous trucking startups, the picture of winners and losers...

https://www.freightwaves.com/news/carnage-grows-among-transportation-startups

Nikola moves to liquidate battery pack maker Romeo Power

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Nikola Corp. is liquidating Romeo Power, the battery pack maker it acquired for $144 million in stock

https://www.freightwaves.com/news/nikola-moves-to-liquidate-battery-pack-maker-romeo-power

Nikola cashes out European JV and refocuses on fuel cells at home

Cash-strapped Nikola Corp. is selling its stake in a European joint venture with Iveco Group for $35 million and 20.6 million shares of Nikola stock. It will prioritize hydrogen and fuel cell trucks in North America and phase out battery-electric models except for special orders.

The end of the joint venture, formed in 2019 when CNH Industrial invested $250 million in cash and partial ownership of a plant in Ulm, Germany, far from ends the relationship.

Iveco gets a license to keep developing...

https://www.freightwaves.com/news/nikola-cashes-out-european-jv-and-refocuses-on-fuel-cells-at-home

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