Apollo Will Take Parts Supplier Tenneco Private
Tenneco Inc. agreed to be acquired by affiliates of Apollo Global Management Inc., taking the auto parts supplier out of the public market after years of share declines and business upheaval.
February 23, 2022Perspective: Rethinking the Pitch for Truck Parking
Truck parking is a major pain point for the industry, and needs more investment from the government. It’s time to get creative about urging that investment, and potentially look to an unconventional source to find it: states’ climate budgets.
February 22, 2022US House, Senate Negotiate Semiconductor Production Bill
Legislation that would dedicate $52 billion to boost the country’s role as a semiconductor manufacturer amid a supply chain crisis is expected to be a main item on Congress’ agenda over the coming weeks.
February 22, 2022Eaton’s Vehicle Group Forms ePowertrain Business Unit
Power management company Eaton announced its Vehicle Group formed a new ePowertrain business unit, which will focus on products from Eaton’s electrified vehicle transmission, reduction gearing and differential portfolios.
February 22, 2022Cummins to Buy Parts Manufacturer Meritor for $3.7 Billion
Engine maker Cummins Inc. is acquiring components manufacturer Meritor in a $3.7 billion cash deal announced Feb. 22.
February 22, 2022Kenworth Receives Its Largest Order to Date for BEVs
Kenworth Truck Co. announced it received its largest Kenworth battery-electric vehicle order placed to date. Jack Khudikyan, owner of AJR Trucking and MDB Transportation, ordered 15 Kenworth T680E and 10 Kenworth K270E battery-electric vehicles from Inland Kenworth in Montebello, Calif.
February 18, 2022Lion Electric Launches New Financing Division
Lion Electric Co. announced the launch of LionCapital Solutions, a new division dedicated to providing customers with flexible financing options specifically tailored to the medium- and heavy-duty electric vehicle market.
February 18, 2022Allison Reports Q4 Increases in Net Income, Revenue
Allison Transmission Holdings Inc. reported Q4 net income nearly doubled as diluted earnings per share jumped 117% and revenue in the period climbed 20%.
February 17, 2022Rush Q4 Results Powered by Aftermarket Business
Rush Enterprises reported gains in fourth-quarter net income and revenue largely on the strength of its aftermarket segment and sales of used vehicles.
February 17, 2022Oshkosh Decision to Build Mail Trucks in South Carolina Questioned
Major manufacturer Oshkosh Defense says it’s sticking with South Carolina for its $155 million mail truck plant, despite efforts by Wisconsin officials and union leaders to keep the company’s new investment in their state. The Oshkosh, Wis.-based company expects to hire 1,000 workers in South Carolina’s Upstate.
February 16, 2022