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        Nikola Motor Company (Nikola), a developer of battery electric (BEV) and hydrogen fuel cell electric (FCEV) heavy-duty trucks, has announced that it plans to raise USD 100 million through a secondary stock offering to the public.&nbsp;
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        Citigroup will underwrite this offer with the option to purchase an additional USD 15 million worth of shares. Moreover, the company has also entered a forward stock purchase agreement with an undisclosed private investor to purchase the shortfall (at the public offering price) in the event the public offering raises less than USD 100 million.&nbsp;
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        The company plans to use the funds to meet its working capital needs and for other general purposes.&nbsp;
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        The company is reportedly planning to build 250&ndash;350 BEV semis and 125&ndash;150 FCEV trucks (launching in fall) in 2023, compared to 258 BEV trucks in 2022.
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Truck Industry Tech

Nikola announces USD 100 million secondary stock issue

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

<div>
 <p>Volvo has uncovered plans to introduce a new long-range version of its FH electric truck, capable of reaching up to 600 km on a single charge. The new version is planned to be available for purchase in the second half of 2025.</p>
 <p>The increased range of the truck is due to Volvo's new driveline system, the “e-axle,” which allows for greater battery capacity. Other features of the upgraded electric truck include more efficient batteries, an advanced battery management system, and an improved overall powertrain efficiency.</p>
 <p>The car manufacturer suggests that this new electric truck will aid in achieving zero-exhaust emission transport over greater distances. The longer range will enable transport companies to handle interregional and long-distance routes over a day's work without needing to recharge. Plus, the trucks will operate with lower noise and vibration levels.</p>
 
</div>

Volvo announces long-range version of FH electric truck

<div>
 <p>European truck manufacturer, DAF Trucks, is set to begin series production for its new electric truck models. These new models are based on the company's zero-emission XD and XF models.</p>
 <p>The electric trucks are fitted with engines of up to 350 kW (480 hp) and use Lithium Ferro Phosphate (LFP) batteries. These trucks can reportedly travel almost 500 km (310.7 mi) on a single charge and up to 1,000 km (621.4 mi) with an additional charge.</p>
 <p>DAF Trucks has conducted road testing for these models in collaboration with several Dutch transport companies, such as Oegema Transport and Cornelissen Transport.</p>
 
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DAF Trucks to commence series production of new electric models

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 <p>Volvo Trucks, a heavy-duty vehicles manufacturer, has entered into an agreement with DSV, a worldwide logistics firm, for 300 electric heavy trucks. This stride involves positioning 300 electric trucks with zero-exhaust emission under DSV’s European operations, signifying the most significant commercial orders for Volvo’s electric trucks so far. These include their new model, the FH Aero Electric. This collaboration fits perfectly with DSV's objective of rolling out 2,000 electric trucks by 2030. </p>
 <p>In addition to this, the partnership includes 500 Volvo trucks equipped with fuel-efficient diesel and gas drivelines. The scheduled delivery of these trucks by Volvo is between 2024 and 2026.</p>
</div>

Volvo Trucks secures order for 300 electric trucks from DSV

ANALYST_QUICK_TAKE

<div>
 <p>Gatik, an autonomous middle-mile logistics company, has received a strategic investment from NIPPON EXPRESS HOLDINGS, INC. (NX Group), a leading global logistics company. The funding amount has not been revealed.</p>
 <p>The investment is intended to bolster Gatik's standing in North America's logistics sector and to speed up the regional deployment of its autonomous technology.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> The partnership follows Gatik’s recent strategic partnerships with Japan-based general trading and investment company <a href="https:<br>
//sp-edge.com/updates/30366"> ITOCHU Corporation </a> and Japanese automaker <a href="https:<br>
//sp-edge.com/updates/29407"> Isuzu Motors </a> , under which it secured strategic investments that should help expand its existing routes and enter new states.</p>

Gatik secures investment from NIPPON EXPRESS HOLDINGS to expand logistics operations

<div>
 <p>Hyzon Motors, a hydrogen truck manufacturer, is at risk of being delisted from the Nasdaq exchange since its share price is under USD 0.10. Nasdaq has provided the company with a delisting determination, however, Hyzon plans to contest this.</p>
 <p>To comply with Nasdaq's rules and maintain its listing, Hyzon Motors is considering a reverse stock split.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Hyzon recently announced plans to <a href="https:<br>
//sp-edge.com/updates/30727"> realign its strategic priorities </a> to focus on its core North American markets and subsequently announced plans to halt its operations in the <a href="https:<br>
//sp-edge.com/updates/31645"> Netherlands and Australia. </a> &nbsp;</p>

Hyzon to appeal Nasdaq delisting after low share price

<div>
 <p>Fleet management solutions provider, Zonar, has laid off 57 of its employees as part of its parent company, Continental Automotive's restructuring initiative. Given Zonar's North American workforce of approximately 300, this lay-off represents a significant percentage.</p>
 <p>Zonar, despite these changes and Continental Automotive's shift in focus on certain projects, maintains that its core business and markets remain unaffected. Zonar still continues to serve various industries including construction, transportation, and utilities with its GPS and telematics solutions.</p>
</div>

Zonar Systems lays off 57 employees amid parent company restructuring

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 <p>Hydrogen Vehicle Systems (HVS), a startup specializing in hydrogen trucks, has entered into a Memorandum of Understanding (MoU) with Hybot, a Chinese hydrogen fuel cell truck manufacturer. The partnership aims to collaborate on the development of hydrogen-powered commercial vehicles.</p>
 <p>Through this partnership, both entities aim to create hydrogen fuel cell trucks that produce zero emissions. The technical development aspects of this undertaking will be handled by Hybot, while HVS will manage the sales and after-sales in the UK and EU. This initiative hopes to reduce costs and accelerate the development process by drawing on Hybot's supply chain system. Additionally, there is also a consideration to import HVS products to China and spread their reach to other global markets.</p>
</div>

HVS and Hybot partner to develop hydrogen fuel cell trucks for UK and EU markets

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 <p>IoT-based fleet management solutions provider, Platform Science, forms a partnership with asset management solution company, SkyBitz, integrating tractor-trailer pairing solution, SkyMatch, for use on fleets.</p>
 <p>SkyMatch will utilize smart logic and Bluetooth networks for tractor-trailer pairing verification through the in-cab tablet from Platform Science. This integrated solution is currently used by freight trucking company Cargo Transporters, resulting in increased asset awareness, decreased cargo claims, and boosted trailer utilization. </p>
 <p>The solution will be available initially for the existing partners of Platform Science Marketplace with a broader accessibility expected later this year. </p>
 
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Platform Science partners with SkyBitz to introduce tractor-trailer pairing for fleets

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 <p>Aurora Innovation, a tech company focusing on autonomous vehicles, has generated $483 million through an upsized public offering of its Class A common stock. This figure is prior to deductions like underwriting discounts and commissions. After these deductions, the expected net proceeds range between $405 million and $466 million.</p>
 <p>These funds will be used for working capital and other general business needs. Aurora plans to initially invest these proceeds in short and long-term investment-grade tools, certificates of deposit, or guaranteed obligations.</p>
 <p>Aurora operates on a driver-as-a-service model and anticipates commencement of commercial driverless truck operations by the end of 2024. The company aims for this funding to provide sufficient financial support up till 2026, thereby preparing it to deploy driverless trucks on a large scale and achieve a positive cash flow by 2028.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> Aurora initially planned to sell up to <a href="https:<br>
//ir.aurora.tech/news-events/press-releases/detail/104/aurora-announces-pricing-of-420-million-upsized-public"> USD 420 million </a> of Class A common stock. The company first announced its intention to sell <a href="https:<br>
//www.businesswire.com/news/home/20240731927571/en/Aurora-Announces-Proposed-Public-Offering-of-Class-A-Common-Stock"> USD 350 million </a> in shares but increased the offering to USD 420 million due to strong investor demand. However, Aurora exceeded its original goal and raised USD 483 million, demonstrating investors' confidence in Aurora's potential for long-term success.</p>

Aurora Innovation raises USD 483 million in public offering to fund operations

<div>
 <p>German freight platform, Sennder, has acquired the European ground transportation assets of C.H. Robinson, a global logistics company, in an all-cash, undisclosed deal. Positioned to be the world's second-largest logistics provider after Amazon, C.H. Robinson's market cap exceeds USD 10 billion. The acquisition amalgamates a workforce of 1,700 people across 20 markets, making Sennder one of the top five companies in Europe's full truckload services industry. Sennder's annual revenue is anticipated to double to EUR 1.4 billion (USD 1.5 billion) as a result of the acquisition. Sennder expects this expansion to accelerate its European expansion and significantly enhance its network density and digital capabilities.&nbsp;</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> Sennder has also made similar acquisitions in the past, including Uber Freight’s European freight business <a href="https:<br>
//www.sennder.com/press/sennder-acquires-uber-s-european-freight-business"> (September 2020) </a> and Netherlands-based freight forwarder Cars&amp;Cargo <a href="https:<br>
//www.sennder.com/press/sennder-acquires-dutch-based-cars-cargo-supplying-digital-offering-whilst-expanding-network"> (May 2021). </a></p>

All Updates

Nikola announces USD 100 million secondary stock issue

Volvo announces long-range version of FH electric truck

DAF Trucks to commence series production of new electric models

Volvo Trucks secures order for 300 electric trucks from DSV

Gatik secures investment from NIPPON EXPRESS HOLDINGS to expand logistics operations

Hyzon to appeal Nasdaq delisting after low share price

Zonar Systems lays off 57 employees amid parent company restructuring

HVS and Hybot partner to develop hydrogen fuel cell trucks for UK and EU markets

Platform Science partners with SkyBitz to introduce tractor-trailer pairing for fleets

Aurora Innovation raises USD 483 million in public offering to fund operations

Sennder acquires C.H. Robinson's European ground transportation assets for undisclosed sum

Truck Industry Tech

Nikola announces USD 100 million secondary stock issue

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