New reports from Europe suggest that Michelin and Bridgestone may be poised to acquire the TomTom Telematics business unit, owned by the Dutch company TomTom. According to the Dutch financial daily Het Financieele Dagblad, Michelin is circling in. Also in the running is Pamplona Capital Management, which already holds a sizable stake in another telematics […]
While the recent move by the Federal Reserve to raise its key interest rate by .25% was widely expected, what may come as a surprise is that the marginally higher cost of borrowing associated with such a move may actually spur new capital expenditures on a broad range of infrastructure projects, notably vehicle maintenance facilities […]
Publishing is fusing with telematics as Summit CE Group is partnering with Hearst Brand Development to launch a new line of Car and Driver-branded dash cams. The result will provide “eyewitness recording of everything that occurs on the road and features crisp 1080p recording, loop recording, accident/motion detection, auto on/off, parking mode, night vision to […]
Proterra, a provider of zero-emission battery-electric buses, has announced the completion of round of financing, raising $55 million. Proterra has closed a $30 million Series 4 equity round led by $19 million from several new strategic investors. The existing major investors in Proterra added $11 million of equity. In conjunction with the equity financing, Proterra […]
Can the sharing economy move into commercial trucking? On the Move Systems, Inc. (OTCBB:OMVS) thinks so and is attempting to develop an “Uber for trucking” platform that it expects “to revolutionize the trucking industry.” Details are few, but the company did announce it has met with a software developer to plan its on-demand services. On […]
Efficient Drivetrains, (EDI), a leader in advanced, high-efficiency Hybrid and Electric drivetrain solutions, has announced that Kent Williams joined its Board of Advisors. Williams brings extensive experience in the capital markets and knowledge of PHEV drivetrains and new battery technologies. He is a strategic advisor to alternative energy companies and assists automotive companies who are […]
FTR Systems, a technology company specializing in electric-powered vehicles, has announced the start of a Kickstarter campaign for its newest product, the Mogobike electric scooter. The Mogobike is a lithium powered electric scooter built for commuters. According to Charlie Palmer, FTR’s Director of Operations, “Commuters, boaters, pilots and RVers see an application for the product.” […]
STEMCO, an EnPro Industries company (NYSE: NPO), announced that it has acquired ATDynamics, Inc., which designs, manufactures and supplies a suite of clean technology products engineered to reduce fuel consumption and carbon emissions in the global freight transportation industry. The business will become part of the Innovative Tire & Mileage Solutions (ITMS) group of STEMCO, […]
PACCAR (Nasdaq:PCAR) has reported record annual revenues of $18.99 billion and net income of $1.36 billion for 2014. PACCAR achieved the second best annual net profit in the company’s history and the 76th consecutive year of net income,” said Ron Armstrong, chief executive officer. “PACCAR’s financial results reflect the company’s premium-quality products and services, increased […]
TI Automotive, a leading provider of fluid storage, carrying and delivery systems to automotive manufacturers, has announced that it has entered into a definitive agreement to be acquired by Bain Capital, a leading global private investment firm. The existing management team will continue to lead the company. Financial terms of the private transaction were not […]
