31 May Cummins, Isuzu Form Powertrain Partnership Independent engine maker Cummins Inc. and truck maker Isuzu Motors announced they are entering into the Isuzu Cummins Powertrain Partnership agreement, which formalizes a business structure for the companies to bring new diesel and diesel-based powertrains to global markets. Read more...
31 May Pitstop Raises $1.5 Million, Partners With Continental Pitstop, a Toronto prognostics platform for predicting vehicle failures, has received $1.5 million in seed financing, led by Toronto-based venture capital fund Ripple Venture, according to a news release. Read more...
31 May Trump Tariff on Mexican Oil Could Hit Gulf Refiners U.S. oil refiners could get hit if crude is included in President Donald Trump’s threatened 5% tariff on Mexican goods, although the effect may be tempered by their growing fuel exports. Read more...
31 May FourKites Expands Real-Time Freight Visibility FourKites is offering real-time visibility across its network, including freight it does not manage, according to a news release by the supply chain company. Read more...
31 May DOT Provides $500,000 for Vermont’s Flood-Damaged Areas The U.S. Department of Transportation announced May 28 the Vermont Agency of Transportation will receive $500,000 in federal funds to assist with repairs to flood-damaged freight and commuter corridors. Read more...
31 May BMW Factory Caught in Trump’s Mexican Standoff President Donald Trump’s vow to impose a 5% tariff on Mexican goods comes just in time to hit exports from a $1 billion BMW AG factory that opens in the country next week. Read more...
31 May M&D Distributors Expands Service Network in Texas M&D Distributors, an independent aftermarket distributor of diesel engine parts and components, announced its asset acquisition of Diesel Testers Inc., a service dealer that provides diesel engine parts and repair services through its retail location in Odessa, Texas. Read more...
31 May Oil Industry Poised to Attack as EPA Boosts Ethanol in Fuels Oil industry foes are preparing to go to court to fight the Environmental Protection Agency regulation issued May 31 that allows year-round sales of higher-ethanol E15 gasoline nationwide. Read more...
31 May GM, Ford Slip as Auto Sector Hit by Trump’s Mexico Threat U.S. automakers and parts suppliers were among the sectors hit hardest in early trading May 31 after President Donald Trump’s threat to impose a tariff of up to 25% on Mexican goods. General Motors Co. and Ford Motor Co. each fell more than 3%. Read more...
31 May Tesla Starts Accepting Orders for Lower-Priced Model 3s Made in China Tesla Inc. started taking orders for Model 3 cars to be made in China, lowering prices for the vehicle as it seeks to double down on a market it expects to drive future growth and revenue. Read more...