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.”
