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☆ Electric semi-trucks are ready to be deployed, but there aren't near enough plugs to charge them
▼ + stars: | 2023-02-04 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +3 min

Truck manufacturer Daimler has a production capacity of around 2000 electric semi-trucks per year. Lack of charging infrastructure is slowing down adoption across the industry. Sure, the batteries are a bit heavier than truckers might like, but that's not what's slowing down the deployment of electric semi-trucks on US streets. But there are only around 100 electric trucks out on the streets. The majority of electric passenger vehicles charging stations have fast charging at around 150 kilowatt.

☆ Factbox: Investments flow to automated vehicles in non-auto settings
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +2 min

Feb 1 (Reuters) - Corporate and private investors have turned from funding autonomous trucks and passenger cars to companies and applications in a variety of non-automotive settings, from construction and mining to airports and agriculture. Among them:Company: Aurrigo (AURR.L)Headquarters: Coventry, UKStatus: publicFounded: 1993Focus: urban & airport shuttlesMarket capitalization: $40 millionCompany: OxboticaHeadquarters: Oxford, UKStatus: privateFounded: 2014Focus: passenger shuttles, warehouse vehicles, last-mile deliveryInvestors: ZF, BP, Ocado, Eneos, AXA, TencentMoney raised: $256 millionValuation: $720 millionPartners: ZF, BP, OcadoCompany: EinrideHeadquarters: Stockholm, SwedenStatus: privateFounded: 2016Focus: logistics yardsInvestors: Maersk, Ericsson, TemasekMoney raised: $655 millionPartners: Maersk, Bridgestone, InBev, GECompany: OutriderHeadquarters: Golden Colorado, USAStatus: privateFounded: 2017Focus: yard & warehouse vehiclesInvestors: Nvidia, Sumitomo, Abu Dhabi Investment FundMoney raised: $200 millionValuation: $550 millionCustomers: Georgia-PacificCompany: TeleoHeadquarters: Palo Alto, California, USAStatus: privateFounded: 2019Focus: construction & mining equipmentInvestors: UP Partners, Trucks, F-Prime, K9Money raised: $12 millionValuation: $44 millionCompany: Parallel SystemsHeadquarters: Los Angeles, USAStatus: privateFounded: 2020Focus: railcarsInvestors: Anthos, Congruent, Embark, RiotMoney raised: $53 millionValuation: $188 millionCompany: KodiakHeadquarters: Mountain View, California, USAStatus: privateFounded: 2018Focus: trucks, defense vehiclesInvestors: BMW, Bridgestone, PilotMoney raised: $198 millionValuation: $506 millionCustomers: IkeaCompany: Fox RoboticsHeadquarters: Austin, Texas, USAStatus: privateFounded: 2017Focus: forkliftsInvestors: Menlo, Eniac, Congruent, AMEMoney raised: $33 millionCompany: Apex.AIHeadquarters: Palo Alto, California, USAStatus: privateFounded: 2017Focus: agriculture equipmentInvestors: Toyota, Airbus, Agco, Daimler Truck, ZF, Jaguar Land Rover, Volvo Group, Hella, ContinentalMoney raised: $74 millionValuation: $297 millionSources: PitchBook, companiesReporting by Paul Lienert in Detroit Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

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☆ AB Volvo profit just short of forecast as supply strain lingers
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +1 min

[1/2] Volvo trucks are seen for sale in Linden, New Jersey, U.S., May 23, 2022. REUTERS/Andrew Kelly/File PhotoJan 26 (Reuters) - Swedish truck maker AB Volvo (VOLVb.ST) reported a slightly smaller rise than expected in fourth-quarter core profit on Thursday and proposed an extra dividend but warned that its supply chain struggles are set to linger. Adjusted operating profit at Volvo, a rival of German brands such as Daimler Trucks (DTGGe.DE), rose to 12.2 billion Swedish crowns ($1.19 billion) from 10.1 billion crowns a year earlier and an average forecast of 12.5 billion crowns from analysts in a Refinitiv poll. Chief Executive Martin Lundstedt said the business continued to be affected by a volatile supply chain for components as well as its supplier base being under financial pressure from high energy prices and input costs. The world's second-biggest truck manufacturer proposed an ordinary annual dividend of 7.00 crowns per share and a extra dividend of the same amount.

☆ Making America's semitrucks
▼ + stars: | 2023-01-25 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +2 min

"Demand for trucks is, I would say, unprecedented," said David Carson, SVP of sales and marketing for Daimler Trucks North America. "We've seen an incredible demand going through Covid and continuing well into next year. Four companies dominate U.S. truck manufacturing: Daimler Trucks, Paccar, Volvo and Traton. Truck makers are spending billions to replace fuel-burning diesel engines with battery- and hydrogen-powered electric systems. Established truck makers, such as the more-than-century-old Daimler, are balancing keeping their particular and often extremely cost-sensitive customers happy in the present, while investing for an uncertain future.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWho makes America's semi-trucksNearly every product Americans touch is carried at some point by a truck. Daimler Trucks is the biggest, through its Freightliner brand. Daimler has about 40 percent market share. Upstarts are boldly promising to deliver electric semi trucks and autonomous driving systems. But some industry analysts say there is not a clear business models for a lot of these innovations yet in long haul trucking.

☆ Daimler Truck's Q3 unit sales jump as chip shortage eases
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Fabian BimmerBERLIN, Nov 11 (Reuters) - Daimler Truck reported a 27% jump in third-quarter unit sales to nearly 135,000 units on Friday, as the chip shortage that hit the heavy truck business particularly hard a year earlier began to ease. The jump in earnings was highest in Europe at 316% from the same quarter last year compared to 111% in North America, traditionally Daimler Truck's strongest market. In Asia, however, where a depressed Chinese market prompted the company to lower its regional adjusted earnings margin last quarter to 1-3% from 3-5%, earnings fell 63% even as revenues and unit sales increased. Sales of Daimler Buses, which did not grow at all in 2021, were up 18% this year so far, with earnings more than tripling to 23 million euros ($23.51 million). ($1 = 0.9785 euros)Reporting by Victoria Waldersee, Ilona Wissenbach Editing by Miranda Murray and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Daimler Truck raises unit sales as chip shortage eases
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Nov 11 (Reuters) - Daimler Truck raised unit sales by 27% to nearly 135,000 units in the third quarter, as the chip shortage that hit the heavy truck business particularly hard in the same period last year began to ease. Incoming orders were down 18% from the third quarter last year and down 14% this year so far, the company said in a statement, a sign that the backlog of demand outstripping supply as chip shortages prevented automotive manufacturers from delivering goods is clearing up. Higher pricing, favourable exchange rate effects and a strong after-sale business pushed revenues up 47% and earnings before interest and taxes up 159%, the truckmaker said on Friday, confirming results released in an ad-hoc statement in late October. Reporting by Victoria Waldersee, Ilona Wissenbach Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

☆ Daimler Truck raises FY outlook on stronger than expected Q3
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Oct 26 (Reuters) - Daimler Truck (DTGGe.DE) on Wednesday slightly raised its full-year earnings forecast after reporting better-than-expected results in the third quarter thanks to a jump in unit sales, higher prices and strong aftersales business. Daimler Truck now expects full-year group revenue between 50 billion - 52 billion euros ($50.40 billion - $52.42 billion), up from a previous forecast of 48 billion - 50 billion. The company, which will present its third-quarter report on Nov. 11, said adjusted earnings before interest and taxes (EBIT) rose 159% in the third quarter to 1.27 billion euros, above analysts' forecast of 1.08 billion euros. ($1 = 0.9921 euros)Reporting by Riham Alkousaa Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Mercedes-Benz to sell shares in Russian subsidiaries to local investor
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Oct 26 (Reuters) - Mercedes-Benz (MBGn.DE) said on Wednesday it would withdraw from the Russian market and sell shares in its industrial and financial services subsidiaries to a local investor, becoming the latest carmaker to exit the country. A Mercedes spokesperson said the company's stake in Russian truckmaker Kamaz (KMAZ.MM) would not be affected by the intended transaction and should be transferred to Daimler Truck this year as planned. Reporting by Victoria Waldersee; Writing by Alexander Marrow; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Mercedes-Benz triples pre-pandemic Q3 cars earnings, raises outlook
▼ + stars: | 2022-10-26 | by ( Victoria Waldersee | ) www.reuters.com time to read: +2 min

The luxury carmaker now expects 13-15% in adjusted sales returns for the cars division this year, and 9-11% for Mercedes-Benz Vans, from previously 12-14% and 8-10%, respectively. In the third quarter of 2019, the cars division saw 1.4 billion euros in earnings from 23.5 billion in revenue, but in this year's quarter, it reaped 4.03 billion euros from 28.2 billion revenue, Wednesday's statement showed. Group earnings reached 5.2 billion euros from July to September, with revenue up by a fifth to 37.7 billion euros, adjusted returns of 14.5% for the cars division and 12.7% at Mercedes-Benz Vans. Mercedes-Benz Vans saw sales up by just under a fifth to 104,000 vehicles, with electric van sales up by a third this year so far. Top-end luxury sales lifted revenues, making up 15% of overall cars sales in the third quarter.

☆ Mercedes-Benz to quit Russian market, sell shares to local investor
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +2 min

[1/2] The Mercedes-Benz logo is seen on a car at a new Mercedes-Benz plant's cornerstone laying ceremony in the town of Esipovo outside Moscow, Russia, June 20, 2017. REUTERS/Tatyana MakeyevaBERLIN/MOSCOW, Oct 26 (Reuters) - Mercedes-Benz (MBGn.DE) said on Wednesday it would withdraw from the Russian market and sell shares in its industrial and financial services subsidiaries to a local investor, becoming the latest carmaker to exit the country. Mercedes-Benz Russia said shares in the local subsidiaries would be sold to car dealer chain Avtodom. "Final completion of the transaction is subject to the authority's approval and the implementation of contractually agreed conditions," he added. The Association of European Businesses (AEB) said 9,558 Mercedes vehicles were sold in Russia from January to September, down 72.8% from a year earlier.

☆ How Germany's industrial giants are preparing for winter
▼ + stars: | 2022-09-27 | by ( Victoria Waldersee | ) www.reuters.com time to read: +7 min

Some industrial giants in particular gas-heavy industries like chemicals have begun shifting production and sourcing from elsewhere, while others are switching from gas to coal or oil - spelling trouble for their carbon footprint. read moreBMW (BMWG.DE)BMW consumes around 3,500 gigawatt hours (GWh) of energy annually in Germany and Austria, three-quarters of which comes from natural gas. The carmaker can reduce its gas intake by at least 15% compared to last year, the company's chief financial officer said on Monday. LINDEThe world's largest industrial gas company said in July it produced gases which were critical from a medical or process safety perspective and so believed it would be prioritised for gas allocation from Germany' government. read moreA spokesperson declined to provide further information, saying an update would be provided later in October in line with third quarter results.

☆ Factbox: How Germany's industrial giants are preparing for winter
▼ + stars: | 2022-09-27 | by ( Victoria Waldersee | ) www.reuters.com time to read: +7 min

Industrial giants, in particular gas-heavy industries like chemicals, have begun shifting production and sourcing from elsewhere. It is now sourcing some of its ammonia from outside of Europe, where prices are lower, a spokesperson said. read moreBMW (BMWG.DE)BMW consumes around 3,500 gigawatt hours (GWh) of energy annually in Germany and Austria, three-quarters of which comes from natural gas. Chief executive Dominik von Achten said the company was shifting production at plants to times when power prices were lower, such as weekends. LINDEThe world's largest industrial gas company said in July it produced gases which were critical from a medical or process safety perspective and so believed it would be prioritised for gas allocation from Germany' government.

☆ Daimler Truck begins producing Mercedes-Benz branded trucks in China
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +1 min

Visitors surround an Actros truck of German truck maker Mercedes-Benz at the IAA truck trade fair in Hanover, Germany September 19, 2018. REUTERS/Fabian Bimmer/File PhotoBERLIN, Sept 23 (Reuters) - Daimler Truck (DTGGe.DE) has begun producing Mercedes-Benz branded trucks in China, with the first vehicles rolling off production lines at its joint plant with China's Foton Motor Co (600166.SS) in Beijing on Friday, the truck and bus maker said. China is the world's biggest market for heavy trucks, with around 1.5 million units sold in 2021 - more than in the U.S., Japan and Europe combined, according to data from German car association VDA. Daimler Truck has so far only produced the joint venture's brand, Auman, in China, while selling Mercedes-Benz trucks imported from Germany at a higher price. A document seen by Reuters in 2020 on plans for the revamp of the joint plant to begin heavy truck production said the target was to produce 50,000 Actros trucks a year.

☆ Daimler Truck CEO says output could have been higher by 'five-digit figure' without supply chain problems
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +2 min

Martin Daum, head of Daimler Trucks and Buses gestures during the annual results news conference in Stuttgart, Germany, February 11, 2020. REUTERS/Andreas GebertHANNOVER, Germany, Sept 19 (Reuters) - Daimler Truck's (DTGGe.DE) deliveries could have been higher by a "five-digit figure" in 2021 and 2022 if it had not faced supply chain problems, its chief executive Martin Daum told Reuters. Register now for FREE unlimited access to Reuters.com RegisterThe company sold 120,961 units in the second quarter of 2022, up 4% from the same period last year. Daum said Europe, and Germany in particular, was lagging on building battery production, with most still coming from Asia. This could hold back the country's ambitions to build batteries, a highly energy-intensive process, Daum said.

☆ Loop Energy says new hydrogen fuel cell more efficient than diesel engine
▼ + stars: | 2022-09-18 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

REUTERS/Mark Blinch/File PhotoSept 18 (Reuters) - Hydrogen fuel cell maker Loop Energy (LPEN.TO) said on Sunday that its latest cell system can deliver better fuel economy than a diesel engine at current price levels. Hydrogen fuel cells have faced two challenges for broad adoption: they have so far been less efficient than diesel and fuelling infrastructure in Europe is virtually non-existent. "This brings the future forward," Loop Energy Chief Executive Ben Nyland told Reuters. Nyland said that Loop Energy aims to provide the fuel cell system to startup truck makers and as part of hydrogen powertrains provided to big truck makers by major suppliers. The company's biggest shareholder is U.S. engine maker Cummins (CMI.N), which holds a more than 20% stake in Loop Energy.

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