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Today's Pickup: Hyundai And Kia Invest $110 Million In Electric Van Startup

Good day,

Benzinga · 01/17/2020 16:17

Good day,

Hyundai Motor Co and Kia Motors Corporation have invested  $110 million in a partnership with a U.K.-based electric vehicle startup, Arrival, to develop electric commercial vehicles for the European market. Arrival will help Hyundai and Kia meet the growing demand for eco-friendly commercial vehicles and accelerate the brands' transformation from carmakers to clean-mobility providers, Hyundai said in a press release.

Hyundai invests ArrivalDid you know?

Year-to-date U.S. rail volumes for the week ending Saturday totaled 915,638 carloads and intermodal units, a 7.6% drop from the same period in 2019, according to the Association of American Railroads. Of that total, U.S. carloads slipped 6.8% to 454,683 carloads, while U.S. intermodal units fell 8.4% to 460,955 intermodal containers and trailers. 

Quotable

"I think it's maybe a useful pause in the downward spiral of U.S.-China relations." 

Susan Shirk, a professor at the University of California, San Diego, on the China-U.S. trade deal in The New York Times.

In other news

Commercial transportation viewed favorably but infrastructure and fuel costs a concern

These were the primary findings of a survey of more than 2,000 business owners and executives by TruNorth, a Charlotte, North Carolina-based truck warranty provider. (Bizjournals)

New Seattle joint venture to provide truckload capacity solutions for dry bulk shippers

The company, Dry Bulk FR8, brings together a large transporter of raw material with a company that specializes in logistics and freight management. (wishtv)

Nevada truck driver declared imminent hazard

The Federal Motor Carrier Safety Association issued the declaration after Mamadou Diaby, the truck driver and company owner, failed a sobriety test and ignored orders to cease all commercial transportation operations. (Landline)


ATA recognizes congressional champions in fight against human trafficking

The American Trucking Associations' charitable arm presented four senators and four representatives with the 2020 Hero Award following a briefing titled "Advancing Legislative Efforts to Combat Human Trafficking." (PRnewswire)

Final thoughts,

Amazon.com, Inc. (NASDAQ: AMZN) is opening a themed pop-up store at its Seattle headquarters, Geekwire reports. The news outlet spotted an Amazon Pop Up sign affixed to a vacant space at the base of one of the online shopping giant's new high-rise office buildings. The Seattle location will be the sixth in a new generation of Amazon Pop Up stores, joining locations in Las Vegas and the suburbs of Los Angeles, Denver, Houston and Chicago. The Pop Up concept is intended to offer a rotating selection of popular items.

Hammer down, everyone!

Image Sourced from Pixabay