The excise tax on a model year 2024 zero-emission truck costing as much as $435,000 can total more than $52,000. (Rechtien International Trucks) A repeal of the 12% federal truck excise tax for new trucks would not only cut costs for truckers, it could benefit the environment and safety, according to new research by the ...more
(Bloomberg) BP Plc rose on May 5 after Bloomberg reported that Shell Plc is working with advisers to evaluate a potential acquisition of its U.K. rival. BP’s American depositary receipts climbed 1.9% to $28.64 at 9:33 a.m. in New York. The London Stock Exchange is closed May 5 due to a bank holiday. Other major ...more
Ram 1500 Express. (Stellantis North America via Facebook) Stellantis NV’s Ram brand is bringing a cheaper version of its Michigan-made pickup truck to the U.S. market in a bid to bolster sales and minimize its tariff bill. The new Ram 1500 Express, which starts at $44,495, will reach dealerships in the third quarter. It comes ...more
(Freight Technologies Inc.) A small logistics company’s plan to hold President Donald Trump’s memecoin as a treasury asset is fueling its blistering stock rally. Freight Technologies Inc. said it will use proceeds from the sale of convertible notes to buy the Trump digital token. The company intends to start with a $1 million offering, and ...more
Pump jacks in Russia. (Andrey Rudakov/Bloomberg) OPEC+ agreed to surge output again in June, as the group’s leaders continue an accelerated revival of supply aimed at punishing overproducing members that has sent crude prices plunging. Key nations led by Saudi Arabia and Russia agreed to add 411,000 barrels a day next month, according to a ...more
Marine Terminals Corp. was awarded an $800,000 tax credit for an $8 million investment in heavy equipment and hiring three full-time employees as part of its expansion at Port Hueneme. (Port of Hueneme) California Gov. Gavin Newsom awarded a $29.3 million tax credit package to seven companies, including $1.5 million for a hydrogen fuel facility ...more
The House Transportation and Infrastructure panel gave partisan backing to an electric vehicle fee of $250 as well as a $100 fee for hybrid vehicles. (3alexd/Getty Images) House Republicans recently took a major step in their quest to approve as early as this month a comprehensive tax and budget measure supported by the Trump White ...more
Ford CEO Jim Farley last week said the company won’t increase the price of its vehicles until it sees how rivals respond to added tariff costs. (Matt Rourke/Associated Press) Ford Motor Co. suspended its full-year financial guidance and said President Donald Trump’s auto tariffs will take a toll on profit, joining rivals stung by volatile ...more
(Morgan Olson) Morgan Olson has introduced a more compact addition to its fleet with the launch of the Kestrel work truck, designed to serve a growing demand for smaller, more efficient service vehicles. The Michigan-based manufacturer, known for its dominance in the step van segment, positioned the Kestrel as a versatile alternative for vocations ranging ...more
Rivian will get $16 million in state incentives for the supplier park, which includes a $5 million tax benefit over 20 years, as well as a capital grant. (Yuki Iwamura/Bloomberg) Rivian Automotive Inc. is investing $120 million in a new supplier park in Illinois, another win for Gov. JB Pritzker after the company announced a ...more
