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Embark to Go Public, Merge With SPAC in $4.5 Billion Deal

Self-driving truck technology company Embark Trucks Inc. has entered into a definitive business combination agreement with Northern Genesis Acquisition Corp. II, a special purpose acquisition company.

June 24, 2021

Infrastructure Deal Closer With Biden, Senators Meeting June 24

President Joe Biden and a group of bipartisan senators are close to agreement on a $559 billion infrastructure plan that would fulfill one of his top priorities, according to lawmakers and officials familiar with the discussions.

June 24, 2021

FET on Heavy-Duty Trucks Deters Sales, ATD Says

Industry-led attempts to repeal the 12% federal excise tax on heavy-duty trucks, which also covers trailers more than 26,000 pounds, went — yet again — to Capitol Hill.

June 23, 2021

Proterra Eyes US Battery-Cell Facility Within Next Few Years

Proterra Inc., the electric-bus and battery maker that joined the Nasdaq Global Select Market, is planning a domestic battery-cell manufacturing facility within the next few years.

June 23, 2021

Nikola Invests in Midwestern Hydrogen Plant

Zero-emission truck builder Nikola Corp. has invested $50 million in cash and stock in Wabash Valley Resources in exchange for a 20% equity interest in the clean hydrogen production project WVR is developing in West Terre Haute, Ind.

June 23, 2021

VW CEO Sees Autonomy Transforming Cars More Than Electrification

Volkswagen AG is undergoing the world’s largest industrial overhaul for the electric-vehicle age, plotting half a dozen battery plants just in Europe and retooling assembly lines around the globe. And yet, its CEO sees autonomous-driving technology bringing about an even bigger shift.

June 22, 2021

Trucker Tools Acquired by ASG

Trucker Tools has been acquired by the software-focused investment portfolio company ASG, the companies announced June 22.

June 22, 2021

China Trucking Startup Full Truck Alliance Raises $1.6 Billion in US IPO

Full Truck Alliance Co., an Uber-like trucking startup, has raised $1.6 billion after pricing its U.S. initial public offering at the top of a marketed range, in one of the biggest listings stateside by a Chinese company this year.

June 22, 2021

Amazon Might Have to Sell Logistics Business Under Bill

Amazon .com Inc. could be forced to sell its valuable logistics services division — the network of warehouses and delivery hubs around the country that power quick delivery of online orders — under antitrust legislation proposed by a congresswoman from Amazon’s hometown of Seattle, according to a spokesman for the lawmaker.

June 22, 2021