News and Events

Transportation Industry News

• Volkswagen Management Tumult Spills Over to Truck Subsidiary
  Volkswagen AG’s series of executive shakeups is reaching its commercial-vehicle operations, with the surprise departure of Traton SE’s chief and other managers highlighting friction over restructuring plans that were jolted by the COVID-19 pandemic.
• Crude Oil Pares Weekly Decline on Optimism Over Virus Treatment
  Oil rebounded as a new virus treatment showed promising results, but rising COVID-19 cases continued to weigh on the market.
• Greenbrier CEO Will Remain in Position Until September 2022
  The Greenbrier Companies Chairman and CEO Bill Furman has agreed to continue in his position for up to two more years as a result of the coronavirus pandemic.
• Kansas DOT Awards 22 Projects Through Cost Share Program
  Officials in Kansas recently announced 24 projects have been selected as part of the state Department of Transportation’s Cost Share Program, a popular initiative designed to provide funding for transportation projects.
• Trump Says Phase 2 China Trade Deal Unlikely at This Point
  President Donald Trump said a phase two trade deal with China isn’t under consideration, saying the relationship between Washington and Beijing has deteriorated too much.
• Wicker, Bennet Introduce Infrastructure Bonds Bill
  Legislation that would create certain “direct-pay” taxable municipal bonds as a way to finance public projects during the pandemic was recently introduced by two key senators.
• Mack, VTNA Extend Respective Uptime Services Support at No Cost
  Volvo Group’s commercial truck brands Mack Trucks and Volvo Trucks North America separately announced they extended their uptime services support bundle at no cost through the end of the year, or a minimum of three months, whichever is longer.
• Chevron, Clean Energy Partner on Adopt-a-Port Initiative to Reduce Emissions
  Chevron Corp. announced it is partnering with California natural gas retailer Clean Energy Fuels Corp. on Adopt-a-Port, an initiative that provides truck operators serving the ports of Los Angeles and Long Beach with carbon-negative renewable natural gas to reduce emissions.
• EV Maker Rivian Raises $2.5 Billion in New Funding Round
  Rivian Automotive Inc., the electric truck startup already backed by Amazon.com Inc. and Ford Motor Co., raised $2.5 billion in new funding from a group of investors led by T. Rowe Price Associates Inc.
• Dana Introduces New Drive Technologies
  Dana Inc. announced new drive technologies for material-handling vehicles, including a low-voltage, high-efficiency motor for electric-powered applications.