Technology

Lordstown Motors Corp., the electric-vehicle startup struggling to find cash to move into production, reached a deal to sell as much as $400 million in stock over the next three years to an investment fund managed by Yorkville Advisors Global.

Two U.S. senators proposed repealing the excise tax on new trucks as an effort to modernize the freight industry.

Mobileye, an autonomous vehicle company owned by Intel, announced that it has been testing its driverless cars on New York City streets since June, making it the first and only company thus far to receive a New York AV testing permit.

California Air Resources Board members have unanimously approved amendments to light-, medium- and heavy-truck onboard diagnostic system regulations that will require more data to be stored by the OBD systems, and address issues regarding several malfunction monitors.

General Motors Co. is suing its competitor Ford Motor Co. for violating a trademarked driver-assist technology that’s used for hands-free features, according to a lawsuit.

Magna International Inc. will acquire Veoneer Inc. for $3.8 billion in cash, bolstering its business supplying advanced driver-assistance systems to automakers.

XL Fleet Corp. announced an agreement and an investment in eNow Inc., a provider of solar and battery power systems that enable fully electric transport refrigeration units for commercial vehicle trailers.

Since truck drivers spend so much of their professional lives sitting behind the steering wheel, the driver’s seat is a crucial part of the vehicle spec.

Daimler AG reported higher earnings and revenue as it sold 736,385 passenger cars and commercial vehicles in the second quarter, up 36% compared with 541,833 a year earlier. Truck sales alone jumped by an even higher percentage.