The new warehouse investment has been a result of significant and sustained growth in the Asia Pacific market as the company looks to drive future growth.

Earlier this month at the Commercial Vehicle Show at the NEC in Birmingham, T&BB spoke to Greg Ethridge, the Chief Financial Officer of American EV manufacturer, Canoo Inc who confirmed that the company had indeed purchased manufacturing assets (robotics and machinery equipment) from now defunct, Arrival Ltd. The manufacturing assets are set to be shipped by sea to the Canoo manufacturing facility in Oklahoma City, in the U.S.A.

Olof Persson is to replace Gerrit Marx as CEO of the Iveco Group starting from July 2024, as Marx moves to take up the appointment of CEO of CNH Industrial N.V.

Due to the next-generation battery technology supplied by Polish battery company Impact Clean Power Technology, ADL has increased its “warrantable energy throughput” of its next-gen electric buses (Enviro400EV and Enviro100EV).

BP Pulse has acquired the 21-acre Ashford International truck stop in Kent with plans to electrify the site with twenty-megawatt chargers in Q1 2026. This acquisition signifies BP’s long-term plan - creating a European-wide EV charging network.

Having announced its ‘E-Mobility kit’ in 2023 – a portfolio of advanced electric drives, auxiliary components and complete systems for medium and heavy-duty commercial vehicles – ZF says it plans to ramp up production from 2025 to meet demand.

The rebranded firm has elected to focus instead on military contracts and off-highway commercial trucks, which it believes will carry fewer risks and provide quicker returns on investment. 

Tata Daewoo claims to have a presence in more than 90 markets worldwide, which includes using knock-down (KD) assembly operations in seven countries.

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.