09 Feb DTNA Announces Detroit Brand ePowertrain Daimler Trucks North America announced its proprietary Detroit ePowertrain for the upcoming Freightliner eCascadia and Freightliner eM2 models, and plans a $20 million investment in its Detroit brand manufacturing facility that will serve as the North American source of Detroit ePowertrain components. Read more...
09 Feb Ritchie Bros. Taps Kari Taylor for Revenue Post Ritchie Bros. announced Kari Taylor, president of North America sales, has been appointed to the newly created position of chief revenue officer. Read more...
09 Feb Pete Buttigieg to Quarantine After Security Agent Gets COVID-19 WASHINGTON — Transportation Secretary Pete Buttigieg will quarantine for 14 days after a member of his security detail tested positive Feb. 8 for the coronavirus. Read more...
09 Feb Hyzon SPAC Merger Includes $400 Million Investment Fuel cell truck startup Hyzon Motors Inc. agreed to a merger with blank-check company Decarbonization Plus Acquisition Corp. in a deal that values the two combined at more than $2 billion. Read more...
09 Feb California Drivers Ask Appellate Court to Require Pay for Nondriving Work A federal appeals court is being asked to overturn a lower court’s determination that state law does not require motor carriers to pay drivers separately for nondriving work such as inspections, refueling, and loading and unloading at docks, when drivers are paid on what’s known as a piece-rate basis. Read more...
09 Feb ODFL Expands National Service Center Network Old Dominion Freight Line Inc. has added nine service centers in new and existing markets, the less-than-truckload carrier announced. The steady growth brings the count to 245 and solidifies Old Dominion’s presence across the continental United States. Read more...
08 Feb Diesel Surges 6.3¢ for Biggest Weekly Rise Since 2019 The nationwide average price of diesel fuel increased by 6.3 cents per gallon, marking the 14th straight week with a gain and the largest rise in nearly 17 months, according to U.S. Energy Information Administration data released Feb. 8. Read more...
08 Feb Saia Reports Earnings Nearly Doubled to $40.2M for Q4 Saia Inc. saw income surge and revenue gains during the fourth quarter, the company reported Feb. 8. Read more...
08 Feb BP Swaps High Returns for a Cleaner Future With Unproven Profits One week and two deals later, BP Plc has cemented the view that for an oil and gas company to go green, it must sacrifice profits. Read more...
08 Feb American Tire to Eye $1 Billion Refinancing Post Bankruptcy Bankers for American Tire Distributors Inc. are sounding out investors on a junk bond sale that would help the company refinance its debt more than two years after exiting bankruptcy, according to people with knowledge of the matter. Read more...