With an increasing focus on battery packs, electric powertrains and battery management systems for electric Commercial Vehicles (CVs), the firm has active plans to expand its customer base amongst global CV manufacturers.

The parent of MAN, Scania, and Navistar reported record vehicle sales of 338,200 units for 2023, a 10.7% improvement on the year prior (30,500 units).

Of the two divisions (CVS and RVS), Knorr-Bremse said the Commercial Vehicle Systems (CVS) Division profited from strong positive market developments resulting in an 11.5% increase in revenue to EUR 4,180.2 million (2022: EUR 3,750.0 million). Order intake was up 6.5% at EUR 4,212.2 million (2022: EUR 3,954.3 million).

JBM makes fully integral vehicles at its 20,000 capacity plant in Haryana.

The company says its engineering team has focussed on making the ELON 3X ultra-light weight and modular in design. It is based on, what Blackbuck calls, the ‘ELON skateboard platform’, which is seen as a way to offer other length models, like ELON 2X (10.5m) and ELON 4X (14.5m) in the coming years.

The company received an order for 16 units of its lighTram Tosa double-articulating trolleybus from the Italian city of Vicenza thanks to EUR 19 million in state funding to local transport company SVT, who plan to deploy the fleet on the LAM Rossa line in 2027.

Tata Motors has delivered a further 100 StarBus EV buses to Bengaluru Metropolitan Transport Corporation (BMTC), as part of a contract for 921 units of Tata Motors’ Urban 12m electric buses. (Deliveries to date account for approximately 40% of the contract, Tata Motors states).

The buses will be delivered to the New York City Transit Authority, which is part of the Metropolitan Transportation Authority.

The company announced record 2023 sales figures of USD 10.6 billion, an increase of 4% compared with 2022 figures of USD 10.2 billion. Adjusted EBITA rose by USD 145 million, to USD 845 million in 2023 (2022: USD 700 million). Financially, the company is healthy with an operating cash flow of USD 476 million and a sales backlog of USD 950 million.

Steven Miller replaces Brett Icahn as Icahn Capital Board Designee. Miller is a portfolio manager at Icahn Capital L.P. a subsidiary of Icahn Enterprises L.P. The board will continue to be composed of 10 directors, nine of whom are independent.

The manufacturer has said that "an inheritance dispute" among shareholders and the Van Hool family "has complicated the planned actions"; the implementation of its recovery plan "in a business continuity situation is no longer viable”.

2,300,000 Class A ordinary shares were sold during the underwritten public offering, which closed on 6 March, at a price of USD6.50 per share.