ENC bus manufacturing at Riverside will wind down by the end of fiscal year 2024, once outstanding commitments to customers have been fulfilled.

Cummins is offering its remaining stake (80.5%) in Atmus to its shareholders, who have the option of exchanging Cummins common stock for shares in Atmus (at a 7% discount).

The company reported that sales of Maxus vans grew by 46% in 2023, while its battery electric vans took fourth place in the UK LCV-EV market, and it forecasts growth of 50% across all brands this year. 

Arrival confirmed that it had received a stock trading suspension notice from the Nasdaq Stock Market LLC on January 26. The news sent the company’s share price down 15% on Monday the 29th of January with trading completely suspended on January 30, 2024.

The establishment of Krone Norge AS is part of a wider strategic restructuring of the Krone Scandinavian sales network. This subsidiary replaces its previous sales partner, Vogn Service, which has been exclusively importing Korne products into the region since 2008.

The factory employed 1,070 staff and produced 2,100 TBR tyres a day. Further reasons for closure included the impact on local communities, issues with the rubber supply chain and the overall profitability of the factory.

Giorgio Zino is set to lead commercial operations in Europe, Danilo Fetzner in Latin America, Gauthier Ricord in Africa and the Middle East and Marco Franza in the Asia Pacific. Stéphane Espinasse has been appointed to lead Sales and Market Development of global operations.

Didier Pfleger is promoted to the position of Executive Chairman from his former role as CEO, and Petr Novotný, who led the company’s Components & Bus Mobility division, succeeds Pfleger as CEO.

The British startup manufacturer of electric trucks has issued a repudiation of ElectraMeccanica’s allegations and has announced its intention to take legal action.

Modine's German subsidiaries are specialists in the manufacture of exhaust gas recirculation coolers, radiators, and charge air cooler modules for automotives power by internal combustion.

In May 2023, Sono Motors announced that it had filed for a protective shield proceeding with the Munich Local Court when the business became insolvent.

Phillips says the restructure will encourage greater collaboration and cohesiveness across the company.