Latest news with #DaimlerTruck
New York Times
a day ago
- Business
- New York Times
American Steel Just Got More Expensive. Buyers Blame Tariffs.
American steel makers are raising prices, forcing new costs onto domestic manufacturers that make everything from cars to military tanks. The increases come on the back of President Trump's tariffs on steel and aluminum. Two big American producers, Cleveland-Cliffs and Steel Dynamics, reported on Monday that they had charged more for their products in the second quarter of this year than they did in the first quarter. About a fifth of the steel sold in the United States is imported. The steel tariffs, which were raised last month to 50 percent from 25 percent, have made imports of the metal much more expensive, giving American steel mills the leeway to increase their prices. And as imports have declined, American producers have more power to opportunistically increase their prices, buyers said. 'You always see that as one of the traps of a tariff,' said John O'Leary, the chief executive of Daimler Truck North America, which buys large amounts of steel to make Freightliner and Western Star trucks and Thomas Built school buses. American steel makers, he said, now have 'more headroom to be able to raise the price.' Daimler Truck has tried to pass on some of the costs of the tariffs on steel and aluminum, the other metal on which the Trump administration has imposed tariffs. When steel and aluminum tariffs were at 25 percent this year, the company added approximately $3,500 to the price of a Thomas Built school bus, which on average costs around $100,000. When asked if Daimler would raise prices further now that the tariffs had reached 50 percent, Mr. O'Leary said it was hard to pass on extra costs to customers in the current market. On the Rise The steel market has settled from the supply-chain issues caused by the Covid-19 pandemic in 2021, but President Trump's latest round of tariffs on steel has pushed prices up in the United States recently. $2,000 a metric ton Price of steel in each market 1,500 1,000 United States Western Europe 500 China '10 '15 '20 '25 $2,000 a metric ton Price of steel in each market 1,500 1,000 United States Western Europe 500 China '00 '05 '10 '15 '20 '25 Prices are averages of hot-rolled bands of steel. Source: SteelBenchmarker By Karl Russell Want all of The Times? Subscribe.
Yahoo
4 days ago
- Automotive
- Yahoo
AEVA's Big LiDAR Bet: Is Mass Production Its Game Changer?
Aeva Technologies AEVA is taking a big step to get ready for the world of self-driving vehicles. The company plans to significantly increase its ability to make LiDAR sensors, which are like the "eyes" for autonomous cars and trucks. AEVA is setting up new production lines in North America that can churn out up to 200,000 of its advanced 4D LiDAR units every year. This is a huge move for the company's business plans and comes right after it strengthened its partnership with Daimler Truck North America (DTNA), a major truck ramp-up in production fits perfectly with Aeva's role as the sole provider of their special 4D LiDAR sensors for Torc Robotics, which is Daimler's self-driving trucking division. In fact, the very first Freightliner Cascadia trucks, equipped with AEVA's technology, are already operating on roads in Texas. With extra money coming in from DTNA, this increased production really highlights the growing trust in AEVA's ability to supply high-resolution, long-range sensors crucial for autonomous 200,000 units a year isn't just about big numbers; it shows Aeva Technologies is ready to supply many different car and truck makers, not just Daimler. With this large-scale production expected to start in late 2026 and continue into 2027, AEVA isn't just boosting its manufacturing power. It's also showing a clear intention to be a leader in the race to make self-driving technology a common reality. For a company still relatively new to mass production, this accelerated push could truly define AEVA's next big chapter in the high-volume world of automotive LiDAR. LiDAR Scaling by Peers Luminar Technologies LAZR has largely focused on cars, landing big deals with Volvo and Mercedes-Benz. The company's factory in Mexico is aimed at mass production and cost savings. Luminar's choice to build its own components helps with high-volume production. Luminar's Iris sensor delivers impressive range and resolution, and it estimates object motion through software analysis across Technologies INVZ, meanwhile, is focusing on big-name partners like BMW and Volkswagen's software arm, Cariad, to fuel its growth in self-driving tech. Innoviz aims to provide a complete LiDAR solution, including perception software, and is building factories to produce units on a mass scale. Innoviz's sensors offer excellent detail and are compact. The Zacks Rundown on AEVA Shares of Aeva Technologies have surged nearly 550% so far this year. Image Source: Zacks Investment Research From a valuation perspective - in terms of forward 12-month price-to-sales ratio - Aeva Technologies is trading at a significant premium compared to the industry average. AEVA carries a Value Score of F. Image Source: Zacks Investment Research See how the Zacks Consensus Estimate for Aeva Technologies' earnings has been revised over the past 60 days. Image Source: Zacks Investment Research The stock currently carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Luminar Technologies, Inc. (LAZR) : Free Stock Analysis Report Aeva Technologies, Inc. (AEVA) : Free Stock Analysis Report Innoviz Technologies Ltd. (INVZ) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Automotive
- Yahoo
Mitsubishi-Fuso launches major global hiring campaign
Japanese commercial vehicle manufacturer Mitsubishi Fuso Truck and Bus Corporation (MFTBC) has launched its largest-ever global 'mid-career' recruitment campaign, involving countries in Asia, the Middle East, and Europe. The company, a majority-owned subsidiary of Germany's Daimler Truck AG, is looking to recruit mainly professional staff ahead of its planned merger with Hino Motors. MFTBC is 89.29%-owned by Daimler Truck AG, with the remaining 10.71% of its shares held by various Mitsubishi group companies. The merger with Hino is scheduled to be formally completed at the end of the current fiscal year, in March 2026. MFTBC confirmed that more than 300 new permanent positions have become available at its operations in Japan, the United Arab Emirates and Portugal, in the areas of research and development (R&D), supply chain and quality management, procurement, international sales and aftersales, IT, finance, legal and compliance, and human resources. The truck-maker said that it aims to strengthen the Fuso brand ahead of the company's merger with Hino, with more jobs expected to be created globally after the merger is completed, as the global commercial vehicle industry tackles the challenges associated with CASE technology trends and driver shortages. MFTBC said it has a diverse global workforce, with staff of more than 65 different nationalities employed in approximately 170 markets worldwide. The company also claims to be the first automaker in Japan to introduce remote working, in 2014, and currently offers employees in Japan the option of 'flex time' and remote working. "Mitsubishi-Fuso launches major global hiring campaign" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Business Wire
16-07-2025
- Automotive
- Business Wire
Aeva to Accelerate Scaled Production of 4D LiDAR for Autonomous Trucks in Collaboration with Daimler Truck North America
MOUNTAIN VIEW, Calif. & PORTLAND, Ore.--(BUSINESS WIRE)--Aeva® (Nasdaq: AEVA), a leader in next-generation sensing and perception systems, today announced an expanded partnership with Daimler Truck North America (DTNA) to advance the commercialization of autonomous vehicles through enhanced production of Aeva's state-of-the-art 4D LiDAR technology. As part of the strengthened collaboration, DTNA is providing additional non-recurring funding to further support Aeva's development as the company advances to series production. In response to the growing demand for Aeva's 4D LiDAR, Aeva plans to increase its production capacity to up to 200,000 LiDAR units annually, with the goal of supporting multiple customers including Daimler Truck for production of advanced sensing in autonomous vehicle applications. This expanded partnership builds on the selection of Aeva as the production LiDAR supplier for Torc Robotics, an independent subsidiary of Daimler Truck AG, and its SAE Level 4 autonomous Freightliner Cascadia trucks. Marking a major milestone, the first autonomous-ready Cascadia trucks equipped with Aeva's 4D LiDAR sensors are now operating on public roads in Texas, further advancing Daimler Truck's vision for safe and scalable autonomous transport. 'We are proud to deepen our relationship with Daimler Truck North America and support their leadership in bringing safe autonomous trucks to market,' said Soroush Salehian, Co-Founder and CEO at Aeva. 'This investment enables us to accelerate delivering high-performance sensing capabilities critical for autonomous freight at commercial scale, as we increase the production capacity of our 4D LiDAR in North America.' 'Our collaboration with Aeva continues to strengthen as we move closer to series production, and we are happy to expand our partnership and continue supporting Aeva as they ramp up toward their start of production,' said Joanna Buttler, General Manager of Product Strategy and Market Development at Daimler Truck North America. 'The performance, reliability, and scalability of Aeva's 4D LiDAR technology will make it a key component of our strategy to deploy safe, reliable, and efficient autonomous trucks.' LiDAR is a key enabling technology in autonomous driving. While traditional LiDAR sensors use high power laser pulses to sense distances to objects, Aeva's unique Frequency Modulated Continuous Wave (FMCW) 4D LiDAR technology uses a low power continuous laser beam to simultaneously measure range and velocity with high resolution at long ranges up to 500 meters. This enables vehicles to unlock new levels of safety and automation at highway speeds. This announcement marks another step forward in Aeva's mission to deliver next-generation perception for autonomous mobility, and in Daimler Truck's commitment to transforming the future of freight transportation through automation. About Daimler Truck North America Daimler Truck North America LLC, headquartered in Portland, Oregon, is a leading provider of comprehensive products, services and technologies for the commercial transportation industry. Daimler Truck North America designs, engineers, manufactures and markets medium- and heavy-duty trucks, school buses, vehicle chassis and their associated technologies and components under the Freightliner, Western Star, Thomas Built Buses, Freightliner Custom Chassis Corp and Detroit brands. Daimler Truck North America is a subsidiary of Daimler Truck Holding AG (DTG), one of the world's leading commercial vehicle manufacturers. About Aeva Technologies, Inc. (Nasdaq: AEVA) Aeva's mission is to bring the next wave of perception to a broad range of applications from automated driving to industrial robotics, consumer electronics, consumer health, security and beyond. Aeva is transforming autonomy with its groundbreaking sensing and perception technology that integrates all key LiDAR components onto a silicon photonics chip in a compact module. Aeva 4D LiDAR sensors uniquely detect instant velocity in addition to 3D position, allowing autonomous devices like vehicles and robots to make more intelligent and safe decisions. For more information, visit or connect with us on X or LinkedIn. Aeva, the Aeva logo, Aeva 4D LiDAR, Aeva Atlas, Aeries, Aeva Eve, Aeva Ultra Resolution, Aeva CoreVision, and Aeva X1 are trademarks/registered trademarks of Aeva, Inc. All rights reserved. Third-party trademarks are the property of their respective owners. Forward looking statements This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are identified by the words 'believe,' 'project,' 'expect,' 'anticipate,' 'estimate,' 'intend,' 'strategy,' 'future,' 'opportunity,' 'plan,' 'may,' 'should,' 'will,' 'would,' 'will be,' 'will continue,' 'will likely result,' and similar expressions. These forward-looking statements include, but are not limited to expectations about our product features, performance and our relationship with Daimler Truck. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including, but not limited to: (i) the fact that Aeva is an early stage company with a history of operating losses and may never achieve profitability, (ii) Aeva's limited operating history, (iii) the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities, (iv) the ability for Aeva to have its products selected for inclusion in other OEM products, (v) the fact that products using Aeva's technology may never achieve commercial production; (vi) unforeseen delays or manufacturing or other issues, (vii) the impact of global tariffs or other global economic or political conditions and (viii) other material risks and other important factors that could affect our financial results. Please refer to our filings with the SEC, including our most recent Form 10-Q and Form 10-K. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Aeva assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Aeva does not give any assurance that it will achieve its expectations.
Bloomberg
13-07-2025
- Business
- Bloomberg
Tariffs Are Coming for Corporate Profit Margins
By Welcome to CFO Briefing, a newsletter devoted to corporate finance and what leaders need to know. This week, I take a closer look at how CFOs are navigating earnings season against a backdrop of trade uncertainty, and connect with Daimler Truck's Eva Scherer. But first, here's some other news that caught my eye:
