The results showed that the Canadian CV manufacturer's revenues dropped by over 55% from USD41.7m in 2021 to USD18.5m.

Daimler Truck’s aim is to replace legacy systems inherited from its former parent, Mercedes-Benz Group, with a new system which integrates workflows and product design across all of its brands.

The German component and mobility systems manufacturer published its annual report for 2022, showing a 14% increase on its total sales for 2021, which were EUR38bn.

Paccar announced earlier this year that Kenworth and Peterbilt trucks built from 2024 onwards will be installed with Platform Science's 'Virtual Vehicle' edge computing hardware.

In 2022, the Canadian manufacturer of gas engines made USD305.7m, a 2% fall compared to revenues (USD312.4m) reported in 2021.

Its subsidiary, PowerCo, will build gigafactories for EV battery cells in Sagunto, near Valencia, Spain, and in St Thomas, Ontario, Canada, to open in 2026 and 2027 respectively.

The agreement with Italian lightweight automotive components manufacturer, Poggipolini, will see both companies combine resources, skills and research and development projects regarding battery module and pack design solutions to service the automotive EV sector.

The organisation has made three recommendations to ensure the successful implementation of hydrogen into the UK transport sector, with the first being, a minimum network of 200 hydrogen refuelling stations by 2030.

Borgwarner stated that the acquisition is an important move for the company’s electrification business in Asia.