Daimler Truck opened a new 22,000 sqm truck and bus all-purpose driveline agnostic servicing and sales centre in Stuttgart (“Mercedes-Benz Commercial Vehicle Center”) for Mercedes-Benz and Fuso trucks as well as Setra and Mercedes-Benz buses. This is its fifth such facility in the past 12 months, and it plans to add three more in Europe in 2025.

In an attempt to generate operational capital, the Board approved plans for an accelerated book-build offering of newly issued ordinary shares at an extraordinary general meeting on 29 January 2024.

AAG is heading into the bus and coach rental market, so T&BB set up an interview with Martyn Bellis, Commercial Director of Bus & Coach at AAG, to get a better understanding of the company’s strategy to double its turnover in bus and coach from GBP500m currently to GBP1bn in the next three years!

The Board of Directors has approved the decision to repurchase USD 60 million of its common stock over the next 24 months (two years). The transaction will be funded by the company’s cash reserves.

The Board of Directors has approved the decision to repurchase USD 20 million of its common stock through a “stock repurchase program”.

Volvo says there is a burgeoning market in China for its heavy truck models, particularly in the premium segment.

Isuzu to invest THB32bn (USD900m) in its Thai operations over the next five years as it looks to step up its transition to zero-emission vehicles.

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).

This acquisition strengthens Hitachi’s (Hitachi Energy’s Grid-eMotion division**) position in the electric mobility sector by expanding its product portfolio and production capacity of its electric vehicle charging equipment.

The e-Sys is an electric energy recovery and auxiliary traction system developed exclusively by Randoncorp subsidiaries. The Mexican market, according to Suspensys, on average is 25,000 new semi-trailers per year, and is the second largest in Latin America, behind Brazil.

Knorr-Bremse will retain 15% equity in the company, and has committed to remaining a “strategic partner.” Ultimately, the sale falls under Knorr-Bremse’s Boost program, “a strategic initiative aimed at fostering sustainable and profitable growth through various strategic actions.” One of those actions is streamlining business operations by concentrating on core competencies.

The JV aims to manufacture battery cells for commercial electric vehicles at a 21-gigawatt hour (GWh) factory that is anticipated to cost between USD 2-3 billion and come online in 2027.