Under the Exro name, the combined company will supply e-powertrains to original equipment manufacturers in the passenger car and commercial vehicle segments.

On 12 January, Phoenix Motor announced that it had completed its acquisition of the Proterra Transit, and on 2 February, Volvo announced that its acquisition of Proterra Powered had completed.

The directors of Xos and ElectraMeccanica have agreed to an all-stock transaction, whereby Xos will acquire all of the issued and outstanding common shares of ElectraMeccanica.

Founded in 2007, TST is primarily known for its tyre pressure monitoring systems for recreational vehicles, though it also serves applications such as agricultural trailers, construction equipment, and commercial transport vehicles.

The IMS Group, based in Barneveld, Netherlands, has long been a distributor of truck-trailer parts, including SAF-Holland components.

The Hedin Mobility Group is purchasing the dealership and retail services network in the Nordic countries in Sweden (Gothenburg, Helsingborg and Malmö), Norway (Bærum), Finland (Espoo) and Denmark (Odense).

The EUR 75 million takeover of Eldor’s EHS segment, includes, on-board chargers (OBCs), DC/DC converters, and integrated high voltage boxes, all of which are expected to complement BorgWarner’s existing product portfolio.

Schaeffler stated that the combination with Vitesco could realise earnings before interest and taxes (EBIT) of EUR600m per year before the end of the decade, through improved “revenue and cost synergies” achieved by combining their respective product portfolios.

According to a report from The Bolton News, WN VTech called in administrators due to supply chain “challenges” - it has since been confirmed that Mellor, along with Treka, VCS, Promech Technologies, Coleman Milne and JM Engineering, will be rescued following the Dumarey acquisition, allaying fears of significant job losses.

Administrators from professional services firm Alvarez & Marsal sold the UK business and assets to a new entity, ‘Volta Commercial Vehicles Ltd’, supported by a hedge fund of Luxor Capital Group.

According to the terms of the asset purchase agreement between the two companies, Phoenix Motor will acquire the ‘Proterra Transit’ business assets for a sum of USD10m.

The acquisition, through its US subsidiary Komatsu America Corporation, will allow the Japanese company to develop and produce a full range of battery-powered vehicles and machinery in-house, starting with mining vehicles for the North and South American markets.