Reporting strong results in 2022, the German tyre and technology company said its focus was on the environment and sustainability by developing tyres from renewable and recycled materials.

The company said it ended the year with liquidity of USD154m, which it believes will be enough to kickstart production of its ‘P7’ modular electric vehicle platform later this year.

Challenges cited by the company included parts shortages, inflation, and other costs associated with starting up production at the new battery plant in South Carolina.

However, the last quarter of 2022 finally saw the beginning of production and deliveries of Nikola’s Class 8 electric trucks - 133 ‘Tre’ BEVs rolled off the production line, of which 20 were delivered to Nikola’s dealers.

“Overall, Hyliion remains on schedule to start Hypertruck ERX system production in late 2023,” was one of the main statements in the executive summary for the financial year ending December 2022 at alternative drivetrain supplier startup, Hyliion Holdings Corp of Cedar Park Texas.

The Canadian bus and coach group's income went into the red in 2022, with adjusted EBITDA tumbling from USD164m the year before to minus USD59m.

Although it made more in sales, Shyft took less income in 2022: its adjusted net income for the year was USD44.5m, a 40% drop from the year before.

The proportion of vehicles sold with electric, hydrogen and hybrid drives increased from 41% to over half (55% - 823 versus 669 units with internal combustion engines), marking the first time in the company’s history that buses with alternative drives have outsold conventional ones. 

Excluding the contribution from the recently-acquired Meritor, Cummins made USD26.2bn, a 9% improvement on the year before (USD24bn).

Marcopolo's fiscal action plan paying off, says CEO.

Sales in the commercial vehicle applications segment contributed Euro 350,2 million in 2022 compared to Euro 293.9 million the previous year, a growth of Euro 56.3 million.

Total net sales came to USD2,769 million, up 15% from USD2,402 million in 2021