Ex-Nikola CEO mysteriously vanishes from social media after abrupt resignation

One day after his abrupt resignation from Nikola Corp., former Chairman and CEO Trevor Milton ghosted his Twitter followers and vanished from public view.  Why he did it is a bit of a mystery. But his disappearing act, to some, points to guilt or cowardice in the fallout from a report that accused the company he founded of “intricate fraud.” Now Wall… Continue reading Ex-Nikola CEO mysteriously vanishes from social media after abrupt resignation

Tesla will face challenges with a new battery technology, experts say

Welcome to Insider Energy, a weekly energy newsletter brought to you by Business Insider.  Here’s what you need to know: Want to get Insider Energy in your inbox every Friday? Sign up here.  Do you have feedback or story tips? Reach out to me at bjones@businessinsider.com.  A reminder: BI is looking for an energy reporter/editor… Continue reading Tesla will face challenges with a new battery technology, experts say

Nikola chairman, VectoIQ CEO Steve Girsky eyes his next transportation investment

Steve Girsky, the former GM vice chairman, consultant and investor whose special purpose acquisition company (SPAC) merged with hydrogen electric startup Nikola this summer, is in talks to back self-driving trucks startup TuSimple, according to four people familiar with the deal. The capital would come from Girsky’s VectoIQ LLC, a consulting and investment company he… Continue reading Nikola chairman, VectoIQ CEO Steve Girsky eyes his next transportation investment

UK engine production down -35.1% in August as sector braces for coronavirus second wave

25 September 2020 #SMMT News #UK Manufacturing 106,398 UK engines produced in August as output falls -35.1%. Production for domestic and overseas markets declines -36.9% and -34.1% respectively. Year-to-date engine production now down -35.2% as coronavirus second wave looms. Mike Hawes, SMMT Chief Executive, said, These figures come at an extremely worrying time for the… Continue reading UK engine production down -35.1% in August as sector braces for coronavirus second wave

Commercial vehicle production falls -11.5% in August

25 September 2020 #SMMT News #UK Manufacturing August commercial vehicle production declines -11.5%, with 4,915 vans, taxis, trucks and buses manufactured. Some 641 fewer vehicles produced in the month than the previous year, which marked the strongest August since 2012. Year-to-date performance remains down, as industry struggles to make up demand shortfall of -20.0%. UK… Continue reading Commercial vehicle production falls -11.5% in August

UK car manufacturing falls -44.6% in August as coronavirus bites again

UK car production declines -44.6% in August with 51,039 units rolling off factory lines. Ongoing coronavirus crisis stalls efforts to ramp up output with weak demand overseas compounded by heavy domestic losses. Production so far this year down -40.2% with a loss of 348,821 units worth more than £9.5bn to UK car makers. As pandemic’s… Continue reading UK car manufacturing falls -44.6% in August as coronavirus bites again

Tenneco Releases Annual Sustainability Report Outlining 2019 Progress and Plans for the Future

As outlined in the report, Tenneco continues to make strides toward improving its Environmental, Social and Governance strategy, including key performance metrics, and evaluating Sustainability Accounting Standards Board (SASB) and other reporting frameworks to drive long-term stakeholder value. Along with these metrics, the company has committed to share best practices and employ continuous improvement initiatives… Continue reading Tenneco Releases Annual Sustainability Report Outlining 2019 Progress and Plans for the Future

PSA and FCA offer van concessions to win EU nod for $50bn merger

PSA and FCA offer van concessions to win EU nod for $50bn merger Read M&A insights you won’t find elsewhere Exclusive scoops Smart data to help spot risk and opportunity Analysis of broader trends in M&A Lex, our agenda-setting business commentary (Premium only) Due Diligence, an exclusive M&A newsletter (Premium only) Choose your subscription Trial… Continue reading PSA and FCA offer van concessions to win EU nod for $50bn merger

Kongsberg Automotive enhances its financial capabilities by an additional “Receivables Securitization” facility

Fri, Sep 25, 2020 18:44 CET We have today, September 25th, entered into an agreement with NORD/LB and Finacity Corporation (“Finacity”) to provide to Kongsberg Automotive Group a committed 60 Million EUR facility with a three years tenure, intended to take effect on October 19th, 2020. The securitization program will finance trade receivables originated by… Continue reading Kongsberg Automotive enhances its financial capabilities by an additional “Receivables Securitization” facility

HumanForest suspends London e-bike sharing service, cuts jobs after customer accident

UK-based startup HumanForest has suspended its nascent ‘free’ e-bike service in London this week, after experiencing “mechanical” issues and after a user had an accident on one of its bikes, TechCrunch has learned. The suspension has also seen the company make a number of layoffs with plans to re-launch next spring using a different e-bike.… Continue reading HumanForest suspends London e-bike sharing service, cuts jobs after customer accident