The group has signed distribution agreements with two truck-trailer dealers, Ascendance Trucks LLC of Boca Raton, Florida and Allegiance Trucks LLC of Stamford, Connecticut.

Established last year, ‘Our Next Energy Korea Ltd’ was based out of an office in Hwaseong and employed less than ten people.

The company willl use the newly-raised capital to commercialise its technology, starting next year in distribution centres.

Parent company NFI has made “significant” investments in infrastructure and workforce at the site, including the installation of chargers, expansion of storage and commissioning areas, and retraining of staff, in order to prepare the facility for electric coach production.

R. Bruce McDonald will be responsible for implementing Dana’s strategy to streamline operations and enhance shareholder value, as evidenced by its recent announcement to sell its Off-Highway business and initiate a USD 200 million cost reduction plan.

Modine says that, since 2023, Gillig has deployed over one hundred hybrid buses installed with Modine’s EVantage system.

By restructuring the business, Northvolt hopes to raise a total of USD245m in new financing, including USD145m in cash collateral and USD100m of debtor-in-possession finance from an existing customer.

Known for its supply of brake pads and linings to both the aftermarket and OE markets for more than 30 years, the company plans to ramp up the supply of brake discs and heavy-duty shock absorbers in North America.

Labcraft will now be integrated into Safe Fleet’s portfolio of brands that provide safety products for vehicle manufacturers. These companies serve multiple global market segments including emergency services, waste & municipal vehicles, construction vehicles and truck & trailer OEMS.

This decision is part of a broader strategy to focus on Dana's core competencies in light and commercial vehicle markets. The sale is expected to strengthen Dana's balance sheet and unlock untapped shareholder value.

Brazil’s largest trailer builder, Randon, celebrated delivery of the first semi-trailer (container chassis) equipped with its e-Sys electric drive axle system to the North American market.

The company called the test a “milestone” on its path to commercialisation of self-driving trucks, which it aims to achieve by 2027.