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Business, Technology, Equipment

VW Raises Full-Year Outlook, Warns of Growing Chip Shortage

New Volkswagen ID.4 electric SUVs. (Liesa Johannssen-Koppitz/Bloomberg News) New Volkswagen ID.4 electric SUVs. (Liesa Johannssen-Koppitz/Bloomberg News)

Volkswagen AG raised its earnings outlook after a strong start to the year, while cautioning that the semiconductor shortage rippling through the industry will become more pronounced in the second quarter.

May 6, 2021
Business, Technology, Equipment, Safety

VTNA Makes Lytx Video Telematics an Option

Lytx DriveCam The Lytx DriveCam event recorder, mounted on the windshield, helps monitor and evaluate driver performance. (Lytx Inc.)

Volvo Trucks North America announced onboard technology from Lytx is available on all model-year 2022 or newer Volvo trucks as a factory-installed option.

May 5, 2021
Government, Business, Equipment, Fuel, Logistics, TCA

Bill Would Create National EV Charging Network in Five Years

Electric vehicle chargers in New Greenfield, Mass., parking garage. Electric vehicle chargers in a New Greenfield, Mass., parking garage. (

WASHINGTON — Rep. Andy Levin (D-Mich.) is reintroducing the EV Freedom Act, which seeks to build a nationwide electric vehicle charging network within five years.

Riley Beggin | The Detroit News
May 5, 2021
Business, Technology, Equipment

Grote Appoints Brian Blanton Chief Financial Officer

Grote 90 mm LED lamps A view of 90 millimeter LED lamps that Grote unveiled in February. (Grote Industries)

Grote Industries announced Brian Blanton has joined the company as chief financial officer.

May 5, 2021
Business, Technology, Equipment, Autonomous

Electric Car Startup Lucid Hires Waymo Veteran as Finance Chief

Lucid A Lucid Air Grand Touring electric luxury car. (Patrick T. Fallon/AFP/Getty Images)

Lucid Motors Inc., the Saudi Arabia-backed electric vehicle maker going public via a reverse merger, has hired a former executive of Alphabet Inc.’s Waymo as chief financial officer.

Ed Ludlow | Bloomberg News
May 5, 2021
Business, Technology, Equipment

Stellantis CFO: Chip Shortage Impact Remains ‘Controlled’

Stellantis Marco Alpozzi/LaPresse via Associated Press, File

MILAN — The Stellantis automotive company created out of the merger of Fiat Chrysler Automobiles and PSA Peugeot reported May 5 a 14% increase in first-quarter revenues, despite a drop in production due to the semiconductor shortage.

Colleen Barry | Associated Press
May 5, 2021
Business, Equipment

April Class 8 Orders Cool; Supply Chain Woes Persist

International Trucks assembly line Workers on an International Trucks assembly line. North American Class 8 orders for April eased from March's level, but were substantially higher than April 2020. (International Trucks)

Class 8 orders in April were 33,500, ACT Research reported, and the volume underscored how far the industry has rebounded from a year earlier when orders were the lowest since 1995.

Roger Gilroy | Senior Reporter
May 5, 2021
Business, Technology, Equipment

GM Profit Surges on Sales of Higher-Margin Pickups

GM GM production line. (Jeff Kowalsky/Bloomberg News)

DETROIT — General Motors’ first-quarter net income surged to $2.98 billion as strong U.S. consumer demand and higher prices offset production cuts brought on by a global shortage of computer chips.

Tom Krisher | Associated Press
May 5, 2021
Government, Business, Technology, Equipment

Raimondo Calls for Surge in Chip Production

Commerce Secretary Gina Raimondo speaks during a Senate Appropriations Committee hearing. Raimondo speaks at a Senate hearing in April. (Chip Somodevilla/Getty Images via Bloomberg News)

Commerce Secretary Gina Raimondo called for a major increase in U.S. production capacity for computer chips whose current shortages are causing global manufacturing bottlenecks, saying the push could create jobs and wean the nation off over-dependence on China and Taiwan.

Eric Martin | Bloomberg News
May 4, 2021
Business, Technology, Equipment

Eaton Reports Q1 Stronger Than Expected

Eaton Corp. headquarters First-quarter earnings rose to $459 million from $438 million in the 2020 period. (Eaton Corp.)

Power management company Eaton Corp. reported higher net income and flat revenue in the first quarter as businesses continue to recover from the pandemic.

Roger Gilroy | Senior Reporter
May 4, 2021