Business

Xos Inc., a manufacturer and services provider of Classes 5-8 battery-electric vehicles, powertrains, charging infrastructure and fleet management software, announced a strategic partnership with Allison Transmission Inc. to jointly develop heavy-duty Classes 7-8 commercial electric vehicles.

Hexagon Composites, a designer and manufacturer of clean fuel solutions for commercial vehicles, announced it signed an agreement to acquire a 40% stake in Cryoshelter, an Austria-based company specializing in the development of cryogenic tank technology for liquid renewable natural gas and liquid hydrogen.

ATA Chief Economist Bob Costello estimates that the industry needs at least 80,000 drivers today and more in the future to account for rising freight levels. The Biden administration has made efforts in the past year to encourage more men and women to enter the trucking industry. With the Department of Transportation and Department of Labor working in cooperation with industry stakeholders for paid apprenticeship and training programs, how successful are these efforts? In this special edition of Newsmakers, Labor Secretary Marty Walsh joins TT's Eugene Mulero and Dan Ronan to discuss the industry's workforce concerns, changing perceptions of trade professions, and partnering with public and private groups to work toward a common goal.

Blue Bird Corp. announced it is building on its nearly century-long expertise of school bus manufacturing to expand its zero-emission transportation solutions to the commercial vehicle market.

Penske Truck Leasing and Shell Recharge Solutions North America announced a joint initiative to support light-duty electric vehicle charging at Penske locations.

Saudi Arabia’s energy minister said a dearth of refining capacity meant that gasoline and other oil products would remain expensive even if the world’s biggest exporters pumped more crude.

Russia will take control of French car manufacturer Renault’s operations in the country and resurrect a Soviet-era auto brand, officials said May 16, marking the first major nationalization of a foreign business since the war in Ukraine began.

Cruise, the self-driving startup controlled by General Motors Co., is working with the automaker’s BrightDrop electric van business on a plan to develop autonomous delivery vehicles, people familiar with the matter said.

WASHINGTON — With upcoming data showing traffic deaths soaring, the Biden administration is steering $5 billion in federal aid to cities and localities to address the growing crisis by slowing down cars, carving out bike paths and wider sidewalks and nudging commuters to public transit.

XPO Logistics Inc. is considering a sale of its freight-forwarding unit as it continues to pursue divestitures, according to people with knowledge of the matter.