Outrider Inc. founder and CEO Andrew Smith is the very definition of deliberate. Each robotic advance his company has made to a dangerous or dirty job in a distribution yard builds on another. Since raising $73 million in a Series C round in January, he’s been growing his team.
“While a lot of folks were pulling back on developing their teams, we’ve continued to build out Outrider’s leadership position in both safety technology and deep learning, or AI, for industrial systems,” Smith told me...
Traton SE, the parent company of Navistar International, reported dramatically higher second-quarter sales and profits compared with a year earlier. But economic uncertainty resulted in significantly lower incoming orders.
Traton’s adjusted operating profit in the April-June period reached $1.15 billion compared with $438.5 million a year ago. Q2 revenue totaled $12.92 billion compared with $10.47 billion in the same period a year earlier.
Navistar reported adjusted operating profit of $190.4...
TuSimple told federal officials about the crash of one of its supervised autonomous trucks and temporarily grounded its fleet. But it neglected to inform its partner, Navistar. Meanwhile, the incident led rival Torc Robotics to make some changes to its own self-driving truck processes.
Was meaning to say something…Much ado about something has been made of the TuSimple supervised autonomous truck crash in April in Arizona. No one was hurt, but the unintended sharp left turn across a lane of...
https://www.freightwaves.com/news/truck-tech-dont-ask-dont-tell-edition
The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, Volkswagen’s truck division TRATON has formally agreed to acquire Navistar. Plus, carriers remain firmly in charge when it comes to rates and the first truckload earnings are out and they are not as good as expected.
A marriage made in truck heavenTRATON has formally agreed to acquire U.S. truck maker Navistar, concluding a nearly yearlong saga that was first rumored years ago.
Alan Adler has the...
https://s29755.pcdn.co/news/the-daily-dash-traton-to-acquire-navistar-early-earnings-disappoint
The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, September saw an increase in truck driver drug test failures. Plus, TRATON makes a final offer in its bid to acquire Navistar and Waymo pulls back the curtain – a little bit – on its autonomous technology.
More drivers failing drug testsPositive drug tests among truck drivers increased 8% in September, and most have not started the return-to-duty process to regain their eligible status to drive.
John...
Seven months after TRATON SE (ETR: 8TRA) offered $2.9 billion offer to acquire the rest of Navistar International Corp. (NYSE: NAV) the on-again, off-again merger talks may be heating up, according to a Bloomberg report.
TRATON is the truck holding company of German automaker Volkswagen AG. It owns about 16.7% of Navistar, which builds International-brand trucks, school buses, defense vehicles and engines.
On Jan. 30, TRATON offered $35 a share in cash for the rest of Navistar shares. But it...
https://s29755.pcdn.co/news/report-traton-navistar-merger-talks-heat-up
Navistar International Corp. (NYSE: NAV) is staffing its NEXT eMobility Solutions business unit in Michigan. It is close to several major suppliers working on battery-electric truck systems.
The 19,000-square-foot facility is 30 miles north of Detroit in Rochester Hills. That is a short drive from Continental Automotive Systems (OTC: CTTAY) and Meritor Inc. (NYSE: MTOR) in Troy, Michigan. Other suppliers are nearby.
“We look forward to joining this community as we create what will be the...
https://s29755.pcdn.co/news/navistar-locates-electrification-unit-among-major-suppliers
Navistar International Corp. (NYSE: NAV) CEO Troy Clarke will lead the company until at least July 1 as the coronavirus pandemic delays action on a $2.9 billion buyout offer by Volkswagen AG’s trucking subsidiary TRATON Group.
Clarke’s contract was extended on April 11 beyond its scheduled expiration on April 22, according to a Navistar filing with the U.S. Securities and Exchange Commission (SEC). It is the third time his contract has been pushed out following extensions in 2018 and 2019.
The...
https://www.freightwaves.com/news/navistar-extends-ceos-contract-as-buyout-by-traton-on-hold