Representing an approximate investment of USD600m, the new facility will be developed along “vertical production” principles a la Tesla, meaning that battery and vehicle assembly will take place at the same location.

Albert Burleigh has been named VP of Alternative Fuels and Dr Jeff Van Assche, VP of Purchasing.

According to the terms of the asset purchase agreement between the two companies, Phoenix Motor will acquire the ‘Proterra Transit’ business assets for a sum of USD10m.

The 44-tonne E-Tech T and C trucks will be assembled on the same production line as their diesel-powered counterparts at Bourg-en-Bresse.

YA II PN Ltd, a hedge fund managed by Yorkville Advisors, has agreed to invest an undisclosed sum in Sono Motors in order to keep it solvent until at least the end of 2024.

The educational tour will stop off at all 34 DAF Trucks’ truck sales and aftermarket services centres in the UK and Ireland, to deliver in-person, hands-on training for all staff.

The market for electric vehicles in North America is currently a very crowded one. In the wake of two crucial U.S. government bills – the Infrastructure Investment and Jobs Act (2021) and the Inflation Reduction Act (2022) – established OEMs and startups are enjoying a boost in interest as grants and tax incentives support the expansion of EV manufacturing, sales, and charging/fuelling infrastructure.

The acquisition, through its US subsidiary Komatsu America Corporation, will allow the Japanese company to develop and produce a full range of battery-powered vehicles and machinery in-house, starting with mining vehicles for the North and South American markets.

According to a Reuters report, 93% of 3,900 union members working at Mack Trucks voted to accept the deal.

Renault Trucks announced concurrently its own 'Red Edition' of the new generation Master.

The international jury said they chose the FH Electric for its “performance, seamless acceleration, quietness, and vibration-free behaviour.”

In a statement dated 29 November, Tevva announced that both parties have “mutually determined that it is in their best interests to privately and amicably resolve any legal disputes concerning the merger agreement.”