In the latest episode of "The FreightCaviar Podcast", we sit down with Grace Maher and Jonathan McCormack of OTR Solutions. They shared their take on the current freight market, freight fraud, and talked about OTR's new platform for carriers.
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Lion Electric cuts 10% of its workforce amid industry-wide layoffs due to slow EV demand and economic challenges.
Lion Electric, a Canada-based EV startup, is laying off 150 employees, about 10% of its workforce, across various departments in Canada and the U.S. to streamline costs and advance towards profitability. This comes despite the company's recent capital raise of $142 million and the opening of a major U.S. manufacturing plant in Joliet, Illinois, projected to produce 20,000 electric trucks and buses annually. The cutbacks reflect broader industry trends, with companies like LG Energy Solution and Our Next Energy also announcing layoffs amid slower EV demand and economic uncertainties.
Source: Trucking Dive
Canada’s @LionElectricCo lays off 10% of its workforce. By @kginalex #trucks #trucking #electricvehicles #layoffs https://t.co/Qkjj1BGB1c
— Transport Topics (@TransportTopics) November 30, 2023
Source: Transport Topics
Saia shares have had an incredibly challenging past week, dropping 33% after missing earnings, down $117 from its high at $354.15, now trading at $237.95.
Today we sat down with Karolina Plecha, a truck driver living in Norway. She shares insights on life on the road, the future of electric vehicles, and what she does to prepare for unpredictable weather conditions.
Is this trucker a criminal or just a hustler trying to stay in the game? It depends on how you look at it.
Nikola Corporation, once valued at $30 billion and hailed as the future of EV trucking, has filed for Chapter 11 bankruptcy. The company’s stock plummeted 40% today, marking a staggering 99% decline from its 2020 peak of $1,977 per share to just $0.45.
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