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Buoyant appetite for data center power generators underpinned a 23.3% year-on-year jump in Cummins Inc.’s profit in the third quarter, trumping weak demand for heavy-duty truck engines.

Schaeffler AG will cut about 4,700 jobs in Europe and close two sites as a deepening slump at Volkswagen AG and other German carmakers ripples through their supply chains.

Sunnyvale, Calif., will host both a research and development semiconductor facility and serve as joint headquarters for Natcast and the National Semiconductor Technology Center.

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Losses at truck maker Nikola more than halved year on year in the third quarter as a result of record sales, cost cutting and the absence of expenses incurred in the year-ago period.

Allison Transmission’s profit in the third quarter jumped 26.6% on the back of demand for Class 8 vocational trucks in North America, with executives saying it shows no sign of slowing down.

The business said late last week that it had raised $5.6 billion in new capital at an undisclosed value. The financing was led by Alphabet, which also owns Google.

Truck makers are becoming more optimistic about the prospects for 2025 Class 8 purchases.

Stellantis NV’s third-quarter revenues slumped 27% as the automaker shipped fewer cars from factories in most of its major markets.