Nikola says it has received subpoenas from federal investigators over fraud claims

Updated Nov 13, 2020

Trucking news and briefs for Wednesday, Nov. 11, 2020:

Nikola officers, employees subpoenaed over fraud claims
Nikola Motor Company confirmed in a regulatory filing Monday that the company, its officers and employees have received subpoenas from both the Securities and Exchange Commission (SEC) and Department of Justice as the agencies look into fraud allegations leveled at the company by short-seller Hindenburg Research.

According to the filing, the company and five of its officers and employees received SEC subpoenas Sept. 14, and another three of the company’s officers and employees were subpoenaed a week later. The SEC issued subpoenas to Nikola’s directors on Sept. 30.

The company and Trevor Milton also received grand jury subpoenas from the U.S. Attorney’s Office for the Southern District of New York on Sept. 19 and the company received a grand jury subpoena from the New York County District Attorney’s Office two days later. Nikola says it has cooperated and will continue to cooperate with these and any other regulatory or legal requests.

Volvo D13 Turbo Compound engine now standard in three VNL models
Volvo Trucks North America announced its latest-generation D13 Turbo Compound engine is now standard in all VNL 740, 760 and 860 models.

The D13TC is equipped with Dynamic Torque, a system that enables the driver to operate the truck in a more fuel-efficient manner by adjusting to the exact load without impacting performance. It also offers three individual drive modes, as well as an additional 405 horsepower rating.

“The D13TC engine optimizes fuel efficiency and increases the value to customers through cost savings and overall ROI,” said Allison Athey, product marketing manager at Volvo Trucks North America. “Making the engine standard was the next logical step, in addition to offering customizable fuel economy packages that further maximize profitability and reduce the truck’s impact on the environment.”

Volvo is also offering enhanced fuel economy packages for VNL and VNR models, which can provide up to 16% improvement in fuel efficiency savings for the VNL and up to 6% for the VNR over baseline models, depending on the package.

Continental Express President Russ Gottemoeller (left) presents the keys to the company’s new veterans-themed truck to driver Rick Brown. Brown has driven for Continental since 2013 and is a veteran of the U.S. Air Force.Continental Express President Russ Gottemoeller (left) presents the keys to the company’s new veterans-themed truck to driver Rick Brown. Brown has driven for Continental since 2013 and is a veteran of the U.S. Air Force.

Newest ‘Fleet of Heroes’ military-themed rig
Sidney, Ohio-based Continental Express introduced a new military-themed truck just before Veteran’s Day, and said it has “dedicated the truck to its veteran drivers and to all of those who are serving or have served our country.”

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The new military-themed truck will be part of Continental Express’s Fleet of Heroes, which are three special trucks, two of which honor military personnel and one pink truck honoring breast cancer survivors. Continental revealed its first military truck two years ago.

The wrap on the new 2021 Freightliner displays the American flag, the POW/MIA emblem, the five branches of the military, and the phrase “Home of the Free, Because of the Brave.”  The truck is also numbered “911,” which coincidentally fell in-line with the numbering of the remainder of Continental’s fleet.

It is driven by Rick Brown, who served in the Air Force and has been an over-the-road driver for Continental for the past seven years. Brown is also a driver trainer for the company.

The truck that was released two years ago is being driven Frank Larger, who served in the Army. Larger has been an OTR driver for Continental for 20 years.

The military-themed trucks are a small way Continental Express is able to say “thank you” to its veteran drivers and to all the nation’s military, according to a statement from the company.

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