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After winning breathing room with its bankers to look for additional funding earlier in December, Lion said it failed to raise any cash and was now in default on debt repayments.

Almost 600 of the Volvo Group AB unit’s battery-electric straight trucks and tractors are now operational in the U.S. and Canada, collectively driving more than 200,000 miles every week.

The president of Canadian electric bus and truck manufacturer Lion Electric Co. resigned as the cash-poor company made a last-ditch attempt to stay afloat.

Days after laying off 400 staff and halting production at its Joliet, Ill., bus manufacturing plant, Lion continued its ongoing fundraising push with the building sale.

Nikola Corporation, a global leader in zero-emissions transportation and energy supply and infrastructure solutions, released their first-ever sustainability impact report. Nikola’s 2023 Sustainability Impact Report covers environmental and social impacts, reporting, and progress towards Nikola’s sustainability priorities.

“Securing these two sites in California is a significant step forward in our mission to support the electrification of commercial fleets,” said Sylvia Hendron.

A combination of shareholders, lenders and customers are participating in the bridge funding, and the instruments vary among these groups, a source said.

The memorandum of understanding sends a signal to the freight market that utilities are allies, Aravind Kailas told TT. “We can present a united front,” he said.

Clarios is introducing technology that predicts battery health, informing drivers, fleet managers and maintenance teams of a battery’s status.

In addition to requiring increased power, today’s trucks need redundancy in the electronic architecture to ensure critical safety systems aren’t disrupted.