Latest news with #commercial vehicles
Yahoo
11-08-2025
- Automotive
- Yahoo
Workhorse Group (WKHS) Reenters Exclusivity Period for Potential EV Manufacturer Merger
Workhorse Group Inc. (NASDAQ:WKHS) is one of the best EV penny stocks to buy according to hedge funds. On August 4, the company announced it had entered a new exclusivity agreement with a privately held U.S.-based manufacturer of electric commercial vehicles in connection with a potential transaction. The two companies are discussing a possible deal where the manufacturer would merge into a new subsidiary of Workhorse. In return, the manufacturer would receive newly issued shares of Workhorse common stock. Workhorse previously entered a 14-day exclusivity agreement from July 14 to July 28, 2025, restricting negotiations with other parties, except under a 'fiduciary out.' A new seven-day agreement reinstates those terms. The company clarified this update isn't an offer to sell securities or solicit votes, and cautioned that ongoing talks may not lead to a final deal or maintain current terms. Workhorse Group Inc. (NASDAQ:WKHS) is an American electric vehicle manufacturer specializing in commercial delivery vans and trucks. Its product lineup includes the W4 CC and W750 electric vans, designed for last-mile logistics and fleet operations. Workhorse operates manufacturing facilities in Ohio and leverages strategic partnerships to enhance vehicle performance and distribution. While we acknowledge the potential of WKHS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best Performing Crypto Stocks So Far in 2025 and 10 Best Low-Risk Index Funds to Buy Now. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Free Malaysia Today
10-08-2025
- Automotive
- Free Malaysia Today
Haul up logistics, delivery service vehicles, too, says activist
JPJ said it will begin confiscating vehicles belonging to companies and licensed operators of commercial vehicles that hire foreign drivers, effective immediately. (Bernama pic) PETALING JAYA : The road transport department (JPJ) must include logistics and delivery service companies in its move to confiscate commercial vehicles driven by foreigners, says road safety activist Hisham Shafie. Hisham said strict measures against companies and licensed operators of lorries, public service vehicles and tour buses that employ foreign drivers send a clear message that road safety is a shared, uncompromisable responsibility. 'Road user safety must be the priority. Negligent employers who put profit above the law must face strict, uncompromising action. 'I urge that this enforcement be carried out continuously together with agencies such as immigration and police nationwide against logistics firms, public transport operators and delivery companies,' he said in a statement. JPJ has said it will begin confiscating vehicles belonging to companies and licensed operators of commercial vehicles that hire foreign drivers, effective immediately. Senior JPJ enforcement director Kifli Ma Hassan said foreigners are not allowed to hold vocational licences such as goods driving licences or PSV licences, based on current regulations. He said this followed an increasing trend of companies and licensed operators employing foreigners for about RM2,500 a month, and that officers could seize a commercial company's vehicle and have it forfeited in court if found guilty.
Yahoo
07-08-2025
- Automotive
- Yahoo
Sono Group N.V. Announces Rebranding of Subsidiary Sono Motors GmbH to 'SonoSolar' to Reflect Strategic Focus on Solar Mobility Integration
New brand highlights transformation into one of the leading providers of solar technology for commercial vehicle manufacturers and fleet operators Munich, Aug. 07, 2025 (GLOBE NEWSWIRE) -- The solar technology company Sono Group N.V. (OTCQB: SEVCF) (hereafter referred to as 'Sono Group' or 'Sono', parent company to Sono Motors GmbH, hereafter referred to as 'SonoSolar' or 'Subsidiary') today announced that its wholly‑owned subsidiary, Sono Motors GmbH, has rebranded as SonoSolar, underscoring its evolution into a pure-play solar mobility integrator. Legally, the subsidiary remains Sono Motors GmbH, but it will operate and communicate under the brand name SonoSolar going this brand change, the Subsidiary is sharpening its profile and sending a clear signal to the market: SonoSolar delivers high-quality, vehicle-integrated solar technology for commercial manufacturers and fleet operators. By bringing "Solar" to the forefront, the new name highlights what the company is today: a solar solution provider for the commercial vehicle industry. The rebrand reflects Sono Group's commitment to driving forward the integration and innovation of solar in mobility, rather than manufacturing vehicles, while honoring its pioneering Highlights:- Clear strategic positioning: The name SonoSolar conveys the Subsidiary's mission to lead solar mobility integration at scale.- Aligned business identity: The new brand supports Sono's focused, capital-efficient strategy as a solar technology enabler.- Enhanced investor transparency: The rebranding improves clarity for stakeholders and partners as Sono scales its commercial O'Leary, Managing Director and CEO of Sono Group N.V., commented: 'Transitioning our subsidiary's name to SonoSolar marks an important evolution in our business strategy away from an auto manufacturer. This new identity sharpens our commercial vehicle focus, strengthens our customer-facing brand, and reinforces our long-term value proposition to shareholders. We are focused on delivering commercial vehicle solar solutions at scale, pushing the frontier of solar mobility while executing with discipline and clarity."Denis Azhar, Managing Director of SonoSolar, added: 'We don't just provide solar parts. We build systems, designed by experience and engineered for real-world impact.'As SonoSolar sharpens its focus on solar mobility integration, Sono Group. is well-positioned to capture growing market demand through its capital-light model, expanding partnerships, and scalable technology portfolio, driving long-term value creation across the commercial vehicle ABOUT SONO GROUP N.V. Sono Group N.V. (OTCQB: SEVCF) and its wholly owned subsidiary Sono Motors GmbH are on a pioneering mission to accelerate the revolution of mobility by making every commercial vehicle solar. Our disruptive solar technology has been developed to enable seamless integration into all types of commercial vehicles to reduce the impact of CO2 emissions and pave the way for climate-friendly mobility. For more information about Sono Group N.V., Sono Motors, and their solar solutions, visit and Follow us on social media: LinkedIn, Facebook, BlueSky, Truth Social, and STATEMENTS This press release may contain forward-looking statements. The words "expect", "anticipate", "intend", "plan", "estimate", "aim", "forecast", "project", "target", 'will' and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the intentions, beliefs, or current expectations of the Company and its subsidiary Sono Motors GmbH (together, the 'companies'). Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and could cause the companies' actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and assumptions include, but are not limited to, risks, uncertainties and assumptions with respect to: the Company's ability to uplist to the Nasdaq Capital Market, including meeting the initial listing requirements; the Company's ability to satisfy the conditions precedent set forth in its recent securities purchase agreement ('Securities Purchase Agreement') and exchange agreement ('Exchange Agreement') entered into with YA II PN, Ltd. ('Yorkville'); the timing of closing the transactions contemplated by the Securities Purchase Agreement and the Exchange Agreement; the impact of the transactions contemplated by the Exchange Agreement and Securities Purchase Agreement on the Company's operating results; our ability to maintain relationships with creditors, suppliers, service providers, customers, employees and other third parties in light of the performance and credit risks associated with our constrained liquidity position and capital structure; our ability to comply with OTCQB continuing standards; our ability to achieve our stated goals; our strategies, plan, objectives and goals, including, among others, the successful implementation and management of the pivot of our business to exclusively retrofitting and integrating our solar technology onto third party vehicles; our ability to raise the additional funding required beyond the investment from Yorkville to further develop and commercialize our solar technology and business as well as to continue as a going concern. For additional information concerning some of the risks, uncertainties and assumptions that could affect our forward-looking statements, please refer to our filings with the U.S. Securities and Exchange Commission ('SEC'), including our Annual Report on Form 20-F for the year ended December 31, 2023, which are accessible on the SEC's website at and on our website at Many of these risks and uncertainties relate to factors that are beyond our ability to control or estimate precisely, such as the actions of courts, regulatory authorities and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the Company assumes no obligation to update any such forward-looking SONO GROUP N.V. Press: press@ | Investors: ir@ | LinkedIn: in to access your portfolio
Entrepreneur
04-08-2025
- Automotive
- Entrepreneur
Mahindra Acquires Majority Stake in SML Isuzu, Set to Rebrand as SML Mahindra
The board has also approved a proposal to rename the company SML Mahindra Limited, subject to necessary regulatory and shareholder approvals. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Mahindra & Mahindra Ltd (M&M) has acquired a 58.96 percent stake in SML Isuzu Ltd (SML) from Japan's Sumitomo Corporation and Isuzu Motors Limited. The acquisition, valued at INR 555 crore at INR 650 per share, was announced on Saturday and is seen as a major step in strengthening M&M's position in the country's commercial vehicle market. Following the deal, M&M will make a mandatory open offer to purchase up to 26 percent additional stake from public shareholders, in line with the Securities and Exchange Board of India's takeover norms. As part of the transition, SML's Board of Directors has been restructured. Vinod Sahay, currently President for Aerospace & Defence, Trucks, Buses and Construction Equipment at Mahindra Group, has been appointed Executive Chairman of SML Isuzu with effect from August 3, 2025. Dr Venkat Srinivas will assume the role of Executive Director and Chief Executive Officer from August 1, 2025. The board has also approved a proposal to rename the company SML Mahindra Limited, subject to necessary regulatory and shareholder approvals. This acquisition is expected to boost M&M's footprint in the segment for vehicles above 3.5 tonnes, where it currently holds a modest 3 percent share. In the sub-3.5 tonne light commercial vehicle category, M&M commands a 54.2 percent market share. The company aims to double its overall commercial vehicle share to 6 percent in the near term, targeting 10–12 percent by fiscal year 2031 and more than 20 percent by 2036. Founded in 1983, SML Isuzu is a listed player with a strong presence in intermediate and light commercial vehicles, including a 16 percent share in the ILCV bus segment and an extensive nationwide distribution network.
Malay Mail
16-07-2025
- Automotive
- Malay Mail
MAA: Vehicle sales down 4.6pc in first half of 2025, target remains unchanged
KUALA LUMPUR, July 16 — Malaysia's new vehicle sales fell 4.6 per cent in the first half of 2025 compared to the same period last year, the Malaysian Automotive Association (MAA) said today. A total of 373,636 units were sold from January to June, down from 391,451 units in the corresponding period in 2024. MAA attributed the decline to several factors, including a high base effect from last year's record-breaking total industry volume (TIV) of 816,747 units, as well as a sharp drop in January sales following a surge in advance purchases the month before. 'Advance purchases in December 2024 affected sales in January 2025. Highest monthly TIV of 81,735 units recorded in December 2024 compared to January 2025 TIV of 50,397 units,' the association said in its mid-year sales and production review released today. December 2024 saw a record 81,735 units sold, while sales in January 2025 dropped to 50,397 units. Demand for commercial vehicles also declined, partly due to the end of diesel subsidies in June 2024. Sales in this segment fell 21 per cent to 26,552 units. Passenger vehicle sales dropped three per cent to 347,084 units. Despite the slower start to the year, MAA is maintaining its 2025 target of 780,000 units, citing continued economic growth and lower interest rates. It also expects higher demand for hybrid and small, affordable cars following the reduction in fuel subsidies. Factors supporting the projection include Malaysia's GDP growth forecast of between 3.5 and 4.5 per cent, Bank Negara Malaysia's recent OPR cut to 2.75 per cent, and sustained demand for hybrid electric vehicles (xEVs) and entry-level A-segment models, particularly after the removal of petrol subsidies in the second half of the year. 'The forecast remains in line with MAA's early projection of 780,000 units for 2025, which is 4.5 per cent lower than last year,' it said. So far, the industry has achieved 48 per cent of the full-year target, MAA added. Sales of xEVs rose 36 per cent year-on-year to 30,573 units, while SUVs saw the largest gain in volume, increasing to 99,891 units from 95,307 in the same period last year. Total industry production for the first half of 2025 fell 10 per cent to 352,626 units. — AFP
