13 Nov Volkswagen Breaks Ground on Chattanooga, Tenn., Electric Vehicle Facility Marking construction of an electric vehicle facility in Chattanooga, Volkswagen of America today broke ground on an $800 million expansion that will add more than 700,000 square feet of new space to its plant. Read more...
13 Nov Dean Foods Files for Chapter 11 Bankruptcy Reorganization Top U.S. milk processor Dean Foods Co. filed for Chapter 11 bankruptcy and is in advanced talks with Dairy Farmers of America Inc. about a potential sale. Read more...
13 Nov Hyliion Makes Gains With Hybrid Electrification Hyliion CEO and founder Thomas Healy said the company anticipates receiving more investment funds soon. It built an 80,000-square-foot plant, and trucks with its e-axle have accumulated more than 1 million miles of real-world travel as fleets begin to see hybrid-electric powertrains as a timely choice for improved fuel efficiency. And yet, he sometimes feels as if he is on the industry sidelines. Read more...
13 Nov Jacobs Prepares for Tougher Emissions Standards Jacobs Vehicle Systems is taking to the road to demonstrate its latest technologies directly to fleets and others as the company retools how it wants to be viewed — as a provider of emissions technology, not just the place for engine brakes. Read more...
13 Nov Fed’s Powell Sees Steady Growth, Signals Pause in Rate Cuts WASHINGTON — Federal Reserve Chairman Jerome Powell expects the U.S. economy to continue growing at a solid pace, though it still faces risks from slower growth overseas and trade tensions. Read more...
13 Nov Tesla to Build Factory in Germany After Subsidies Announced BERLIN — Germany on Nov. 13 hailed Tesla’s decision to build its first European factory in the country, days after the government said it would boost subsidies for buyers of electric cars. Read more...
13 Nov Economist Noel Perry Sees US Recession Looming in Late 2020 In the trucking, freight and logistics industry, when economist Noel Perry talks, people listen. Read more...
13 Nov Al Gore’s Fund Leads $400 Million Deal With Convoy In the four years since it was founded, Convoy Inc. has assembled a lineup of big-name investors that includes Bill Gates, Jeff Bezos and Marc Benioff. It’s adding one more to the list: Al Gore. Read more...
13 Nov Truckers File First Suit Contesting California Gig Economy Law SACRAMENTO, Calif. — The California Trucking Association on Nov. 12 filed what appears to be the first lawsuit challenging a sweeping new labor law that seeks to give wage and benefit protections to workers in the so-called gig economy, including rideshare drivers at companies such as Uber and Lyft. Read more...
13 Nov World Thirst for Oil Keeps Growing, With SUVs a Key Culprit PARIS — The world’s thirst for oil will continue to grow until the 2030s, with climate-damaging emissions climbing until at least 2040 — and consumers’ insatiable appetite for SUVs is a big reason why. Read more...