Fleet Management

Faraday Future Announces Nasdaq Delisting Determination and Intention to Appeal

Retrieved on: 
Friday, April 26, 2024
Fleet Management, Autonomous Driving, Vehicles, EV, Electric Vehicles, Alternative Vehicles, Fuels, Automotive, Engineering, General Automotive, Manufacturing, Hearing, Annual report, Security (finance), Calendar, Letter, Medical device

Faraday Future Intelligent Electric Inc. (“Faraday Future” or the “Company”) (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, today announced that it received a letter from The Nasdaq Stock Market LLC (“Nasdaq”) dated April 24, 2024, indicating that the Company was not in compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii), as the Company’s securities had a closing bid price of $0.10 or less for ten consecutive trading days.

Key Points: 
  • Faraday Future Intelligent Electric Inc. (“Faraday Future” or the “Company”) (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, today announced that it received a letter from The Nasdaq Stock Market LLC (“Nasdaq”) dated April 24, 2024, indicating that the Company was not in compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii), as the Company’s securities had a closing bid price of $0.10 or less for ten consecutive trading days.
  • The letter indicated that, as a result, the Nasdaq staff has determined to delist the Company’s securities from The Nasdaq Capital Market (the “Delisting Determination”).
  • The Company was provided 180 calendar days, or until June 25, 2024, to regain compliance with this rule.
  • Pursuant to Listing Rule 5810(c)(2)(A), this deficiency is now an additional basis for delisting.

Voltera Secures $9.6M Federal Grant to Electrify Major US Ports: Savannah, Los Angeles and Long Beach

Retrieved on: 
Friday, April 26, 2024
Fleet Management, EV, Electric Vehicles, Automotive, Other Construction & Property, Trucking, Alternative Energy, Rail, Energy, Maritime, Construction & Property, Transport, Environment, Urban Planning, Green Technology, Public, City, News, Travel, Partnership, Federation, Port of Long Beach, Acquisition, Electricity, Multimedia, Town hall, Private sector, FHWA, Government, ZEV, Atmosphere, Federal Highway Administration, Georgia Power, Intermodal freight transport

View the full release here: https://www.businesswire.com/news/home/20240426747074/en/

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20240426747074/en/
    Electric drayage trucks charging at one of Voltera’s port charging stations (Photo: Business Wire)
    This grant supports Voltera’s vision to electrify America’s ports.
  • “The assistance from the administration and state and local government agencies has been critically helpful,” said Matt Horton, CEO of Voltera.
  • Voltera estimates a reduction of up to 37,000 metric tons of emissions per year via this site at high utilization.
  • Voltera’s charging site in Wilmington, California is adjacent to critical connection routes to the Port of Los Angeles and Port of Long Beach.

Long Beach Container Terminal Receives $34.9 Million Federal Grant to Convert Fleet to Electric and Install Charging System

Retrieved on: 
Friday, April 26, 2024
Automotive, General Automotive, EV, Electric Vehicles, Logistics, Supply Chain Management, Transport, Alternative Vehicles, Fuels, Fleet Management, Climate change, Public, Investment, Ship, LEAP, Partnership, Carbon, LBCT, Reduction, San Pedro Bay, Movement, Blue Diamond Growers, Federal Highway Administration

Long Beach Container Terminal (LBCT) has received a $34.9 million Federal Highway Administration grant to replace more than 150 vehicles at its state-of-the-art cargo handling facility with zero-emission electric trucks and buses as well as to build the supporting charging infrastructure on site.

Key Points: 
  • Long Beach Container Terminal (LBCT) has received a $34.9 million Federal Highway Administration grant to replace more than 150 vehicles at its state-of-the-art cargo handling facility with zero-emission electric trucks and buses as well as to build the supporting charging infrastructure on site.
  • “LBCT is grateful for the support and leadership of Congressman Garcia in securing this grant.
  • These federal dollars will make our port cleaner, safer, and help us meet our climate goals,” said Congressman Garcia.
  • The grant was provided through the Reduction of Truck Emissions at Port Facilities program under President Biden’s Bipartisan Infrastructure Law.

Stak Mobility to Launch Second Mobility Hub in Pittsburgh; Sees Continued Momentum Across the US

Retrieved on: 
Thursday, April 25, 2024
Commercial Building & Real Estate, Construction & Property, Energy, Technology, EV, Electric Vehicles, Other Transport, Fleet Management, General Automotive, Transport, Urban Planning, Automotive, Software, Other Energy, Architecture, Mobile, Wireless, Morgan Stanley, City, Partnership

Stak, in partnership with New York-based developer The AM Group, expects their solution to be operational shortly after construction of the mixed-use building is complete in early 2025.

Key Points: 
  • Stak, in partnership with New York-based developer The AM Group, expects their solution to be operational shortly after construction of the mixed-use building is complete in early 2025.
  • “This project came about due to the popularity of our first site a few blocks away,” said Diallo Powell, CEO and co-founder of Stak Mobility.
  • In 2023, Stak deployed the world's first “EV Carousel” vertical parking systems with fully integrated Level 2 EV charging in Pittsburgh.
  • “We’re a proud partner helping Stak as they reimagine the future of urban transportation, facilitating widespread urban EV adoption while minimizing parking footprints."

Range Energy and DB Schenker Announce Pilot of Electric-Powered Trailer Platform

Retrieved on: 
Thursday, April 25, 2024
Environment, Trucking, EV, Electric Vehicles, Automotive, General Automotive, Transport, Sustainability, Off-Road Trucks & SUVs, Logistics, Supply Chain Management, Fleet Management, DB Schenker, Energy, Safety, DB, Airline

Range Energy (Range), the company bringing powered trailers to the commercial trucking market, today announced it has signed a pilot agreement with DB Schenker , a global leader in logistics services, to deploy its electric-powered trailer.

Key Points: 
  • Range Energy (Range), the company bringing powered trailers to the commercial trucking market, today announced it has signed a pilot agreement with DB Schenker , a global leader in logistics services, to deploy its electric-powered trailer.
  • During the pilot, Range trailers will be implemented and evaluated in select DB Schenker commercial trucking operations in the second half of this year.
  • “Kicking off this pilot with DB Schenker is indicative of the continued commercial interest we are receiving, and we look forward to a successful pilot that proves immense fuel and efficiency savings.”
    "We are excited to partner with Range in this pilot program to explore the potential of electric-powered trailers in our trucking operations.
  • Sustainability is a key focus for DB Schenker, and we are committed to evaluating innovative solutions that can help us reduce emissions and improve efficiency in our logistics operations,” said George Henry, EVP Land Transport, Region Americas, DB Schenker.

Marti Announces Amendment to up to $2.5M Share Repurchase Program

Retrieved on: 
Thursday, April 25, 2024
Data Management, EV, Electric Vehicles, Automotive, Technology, IOT (Internet of Things), Apps, Applications, Software, Alternative Vehicles, Fuels, Motorcycles, Mobile, Wireless, Fleet Management, Share repurchase, MRT, Repurchase agreement, Security (finance)

Türkiye’s leading mobility super app Marti Technologies, Inc. (“Marti” or the “Company”) (NYSE American: MRT) today announced an amendment to its share repurchase program.

Key Points: 
  • Türkiye’s leading mobility super app Marti Technologies, Inc. (“Marti” or the “Company”) (NYSE American: MRT) today announced an amendment to its share repurchase program.
  • In addition, the Board set a ceiling price of $3.30 per share for the share repurchases, giving the Company the ability to perform share repurchases up to a maximum share price of $3.30.
  • The amended repurchase program is effective immediately and is valid until October 9, 2024 (the “Repurchase Program”).
  • The Board may periodically review the Company’s Repurchase Program and decide to extend its terms or increase the authorized amount.

Monroe Capital Supports Trivest Partners’ Epika Fleet Services

Retrieved on: 
Thursday, April 25, 2024
Professional Services, Trucking, Automotive, Transport, Finance, Asset Management, Fleet Management, Trivest, Capital, Growth

Monroe Capital LLC today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility and equity co-investment to support the future growth of Epika Fleet Services (“Epika”), an existing portfolio company of Trivest Partners.

Key Points: 
  • Monroe Capital LLC today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility and equity co-investment to support the future growth of Epika Fleet Services (“Epika”), an existing portfolio company of Trivest Partners.
  • Headquartered in Nashville, TN, Epika is a coast-to-coast provider of mobile and in-shop preventive maintenance services for heavy and medium duty commercial truck and trailer fleets.
  • Epika’s vast coverage network comprised of mobile service trucks, repair shops and a 24/7/365 call center help customers keep their fleets on the road and minimize downtime.

Predian Announces the Integration of Wholesale and Auction Pricing Into ValueVision®

Retrieved on: 
Thursday, April 25, 2024
Data Management, Supply Chain Management, Automotive, Technology, Electronic Commerce, Other Automotive, General Automotive, Retail, Software, Artificial Intelligence, Fleet Management, Multimedia, Artificial intelligence, ShopHQ

Predian , a leading provider of artificial intelligence (AI)—driven inventory management solutions, announced today the integration of wholesale and retail data into their solution ValueVision.

Key Points: 
  • Predian , a leading provider of artificial intelligence (AI)—driven inventory management solutions, announced today the integration of wholesale and retail data into their solution ValueVision.
  • Now, dealers can make strategic pricing decisions and maximize their profitability with confidence, knowing they have the most accurate and comprehensive data at their fingertips.
  • View the full release here: https://www.businesswire.com/news/home/20240425759684/en/
    ValueVision with retail and auction pricing (Graphic: Business Wire)
    ValueVision, developed by Predian, is a comprehensive AI software platform designed to assist automotive dealers in making informed inventory decisions.
  • It is the leading solution for dealers to understand the historical retail pricing of a vehicle and forecasted values over the next 90 days.

J.D. Power-GlobalData U.S. Automotive Forecast for April 2024

Retrieved on: 
Thursday, April 25, 2024
Automotive, General Automotive, Other Automotive, EV, Electric Vehicles, Off-Road Trucks & SUVs, Fleet Management, Sale, SAAR, Insurance, MSRP, Growth, J.D. Power, GlobalData, Memorial Day, Retail

April 2024 has 25 selling days, one fewer than April 2023.

Key Points: 
  • April 2024 has 25 selling days, one fewer than April 2023.
  • New-vehicle retail sales for April 2024 are expected to increase when compared with April 2023.
  • Retail sales of new vehicles are expected to reach 1,084,900 units, a 2.1% increase on a selling day adjusted basis.
  • Power:
    “April is showing mixed results, with an increase in retail sales offset by a decline in sales to fleet buyers.

JJX Logistics Reduces Fleet Emissions by 17% and Achieves Industry Safety Accreditation with Samsara

Retrieved on: 
Thursday, April 25, 2024
IOT (Internet of Things), Data Management, Photography, Technology, Environmental Policy, Environment, Trucking, Environmental Health, Fleet Management, Artificial Intelligence, Transport, Automotive, Software, Logistics, Supply Chain Management, Internet, Cloud, Vehicle, UN, Safety, Heart, Partnership, Level 1, TSR, SVP, GM, Multimedia, Security, Sprinter, Connected, Renewable energy

International haulage company JJX Logistics has improved the safety and sustainability of its fleet operations by implementing advanced AI solutions from Samsara , the pioneer of the Connected Operations™ Cloud.

Key Points: 
  • International haulage company JJX Logistics has improved the safety and sustainability of its fleet operations by implementing advanced AI solutions from Samsara , the pioneer of the Connected Operations™ Cloud.
  • Within the first three months of implementing Samsara’s monitoring features, the company has achieved a 17% reduction in vehicle emissions.
  • Edward Martin, Head of Security & Fleet Compliance at JJX Logistics comments: “We’re continuously operating in a high-pressure environment where compliance is paramount.
  • We’re pleased that our technology is playing a pivotal role in that, and we’re looking forward to seeing our partnership with JJX grow even further.”