23 Jul Nikola Breaks Ground on Arizona Plant Nikola Corp. broke ground July 23 on a new electric-truck factory in Coolidge, Ariz., that it hopes to open next year, but first the startup needs to figure out a way to pay for the 1 million square-foot facility and other expenses with little cash on hand. Read more...
23 Jul Women In Trucking Conference Announces Virtual Plans The Women In Trucking Association’s annual conference will be virtual this year, a decision made in light of the recent surges of COVID-19 cases. Read more...
23 Jul Echo Global Reports $514 Million in Q2 Revenue Echo Global Logistics saw a large drop in profit but a smaller decline in revenue during the second quarter. Read more...
23 Jul Tesla to Build Factory in Austin, Texas, for Semi Production Tesla Inc. managed to stay profitable even in the midst of a global pandemic, but something is still nagging at Elon Musk: the electric-car maker isn’t growing fast enough. Read more...
23 Jul Tesla’s ‘Home-Run Quarter’ Leaves Even the Bears Praising Elon Musk Tesla Inc. shares extended their meteoric gains in U.S. pre-market trading as even the most pessimistic analysts struggled to find faults in the electric-car maker’s quarterly earnings report. Read more...
23 Jul Mnuchin Says Payroll Tax Holiday Not in Next Stimulus Bill A payroll tax holiday sought by President Donald Trump won’t be in the next stimulus package, but may be in follow-up virus relief legislation, Treasury Secretary Steven Mnuchin said. Read more...
23 Jul 1.4 Million Seek Jobless Aid, First Increase Since March The number of laid-off Americans seeking unemployment benefits rose last week for the first time since the pandemic struck in March, evidence of the deepening economic pain the outbreak is causing to the economy. Read more...
22 Jul Kansas City Southern’s Q2 Profit, Revenue Decline The COVID-19 pandemic hit Kansas City Southern’s second-quarter profits as net income slipped to $110.3 million or $1.16 per share, compared with $129.1 million or $1.29 per share in second-quarter 2019, the Class I railroad reported July 17. Read more...
22 Jul FCA, Waymo Extend Autonomous Partnership Fiat Chrysler Automobiles and Google affiliate Waymo said July 22 they are extending their partnership in the development and testing of autonomous vehicles for commercial delivery and for future FCA products. Read more...
22 Jul Fiat Chrysler, Iveco Offices Searched in Emissions Probe FRANKFURT, Germany — Investigators searched offices of automaker Fiat Chrysler and truck maker Iveco in Germany, Switzerland and Italy on July 22 as part of an investigation into suspected illegal manipulation of diesel emissions. Read more...