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Nikola shares jumped 15% on Wednesday as the electric truck maker issued a lengthy statement confirming that it is making progress in achieving its key business milestones in a bid to regain investor confidence.The move comes after the stock plunged 50% over the past month amid a report published on Sept. 10 by short-seller Hindenburg Research, which accused the company of being an “intricate fraud built on dozens of lies” and of misleading investors about its business prospects. On Sept. 21, Nikola founder Trevor Milton stepped down as executive chairman of the board.In Wednesday’s statement, which lays out its strategy to become a global leader in zero-emissions transportation, Nikola (NKLA) said that it expects the first batch of 5 prototypes of the Nikola Tre, a 100% battery-electric truck, to be completed in the next few weeks. In addition, the startup stated that it plans to begin testing production-engineered prototypes of its hydrogen...
(Bloomberg) -- Bayer AG slumped after the agriculture and pharma giant said it would have to slash costs as the pandemic’s impact on farm commodities extends into next year, further undermining the rationale for its $63 billion purchase of Monsanto Co.The stock fell as much as 13% in German trading, knocking 6.6 billion euros ($7.7 billion) from a market value that has sagged well below the price paid for Monsanto. Bayer, already reeling from a legal battle over its Roundup herbicide, said late Wednesday it would cut 1.5 billion euros of annual costs and may also eliminate jobs and sell businesses.Chief Executive Officer Werner Baumann is confronting multiple challenges just after getting his contract extended. Besides Roundup, the German company faces slumping crop prices and weakening demand for biofuel that threaten its agriculture unit two years after the controversial Monsanto takeover.“It was already quite clear that the growth prospects of Monsanto...
The Tesla Model 3's Autopilot scored just 36 when assessed on its ability to maintain a driver's focus on the road. In contrast, the Mercedes GLE's system, which had the highest overall score of 174 and received the top rating of 'very good', received a score of 85 for driver engagement. The European New Car Assessment Program (NCAP), which worked with UK insurance group Thatcham Research, called the assessments the first consumer ratings specifically focused on driver assistance systems - technology that automates some tasks, including acceleration, braking and steering support....
Route optimization, though sometimes neglected, can be extremely valuable to any busy fleet. Whether you deliver products or services, optimizing routes can help drivers complete tasks faster and more accurately, cut fleet costs, save time and improve customer service. ...
Identifying the type of battery is the first step to addressing battery problems effectively. One of the most common service mistakes is using the incorrect method of charging for the battery type. ...
Many fleets are turning to vehicle and trailer leasing in order to meet increased demand. Explore temporary branding options with 3M graphic wrap films. ...
Shares in Bayer plunged 11% after it flagged that adjusted profit may slip next year and it may have to write down the value of agriculture assets by close to 10 billion euros ($11.7 billion). Bayer, which acquired seed maker Monsanto in 2018, said late on Wednesday that the impact of the coronavirus on the agriculture business will be more severe than originally expected because of competition in soy, lower biofuel demand and negative currency effects. The company now expects 2021 sales to come in at around the 2020 levels, with 2021 core earnings per share slightly below 2020 levels, based on constant exchange rates....
