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General Motors Co. (NYSE: GM) and embattled electric truck startup Nikola Corp. (NASDAQ: NKLA) will not close on a manufacturing partnership by Wednesday as the two companies predicted earlier this month."Our transaction with Nikola has not closed," GM said in a statement provided to FreightWaves on Tuesday. "We are continuing our discussions with Nikola and will provide further updates when appropriate or required."A joint Nikola-GM press release on Sept. 8 said, "The parties anticipate closing the transaction prior to Sept. 30, 2020."But in a text Tuesday, a Nikola spokeswoman wrote, "Both teams are still working."The deal, under which GM would take an 11% stake in Nikola in exchange for providing the platform for the Nikola Badger, was valued at $2 billion. GM also expected to supply batteries and the fuel cell system for Class 7-8 heavy-duty trucks Nikola planned at a plant in Coolidge, Arizona.A battery-electric version of the Nikola Tre...
Walmart Canada has more than tripled its order for Tesla Semi trucks in a show of confidence for the all-electric heavy-duty vehicles and the ability of its maker to deliver them. The Canadian division of retailer Walmart, Inc. (NYSE: WMT) said Tuesday it reserved 130 of the trucks. Once in service, Walmart will have one of the biggest electric truck fleets in Canada as part of a companywide goal to achieve zero emissions by 2040. "I'm excited to have my drivers drive this truck," Francis Lalonde, Walmart Canada's vice president for transportation, told FreightWaves.Walmart Canada expects to get its Teslas in 2021. Lalonde wouldn't detail the delivery schedule, but said the company has full confidence in Tesla Inc. (NASDAQ: TSLA) ability to deliver them."We trust our partner," he said. The Teslas will operate within Canada as part of Walmart's private fleet of around 300 trucks with about 500 drivers. Their 500-mile range provides a...
Final Court Decision Has Not Been GivenNEW YORK and TORONTO, Sept. 29, 2020 /CNW/ - iAnthus Capital Holdings, Inc....
According to a report from Bloomberg, a group of 60 scientists have recommended that Pfizer withhold its vaccine until November for safety and efficacy. Yahoo Finance’s Anjalee Khemlani joins The Final Round to discuss the latest on the coronavirus....
Eroad Go connects to a truck fleet’s transportation management system to help dispatchers make better decisions on the fly, while also connecting them to drivers through the Go mobile app. ...
According to Forbes, Donald Trump is currently the 1056th richest person in the world, with a net worth of $2.5 billion. But this week’s blockbuster story from The New York Times reported that the president has paid no income taxes in 10 of the previous 15 years in part because he reported losing more money than he made and is “personally responsible for loans and other debts totaling $421 million.” This new information, which Trump has denied though not formally refuted by releasing his tax returns, has led some to ask if the president actually is a billionaire....
