Market News
Recent Developments
New product launches
- In August 2023, Kalmar, a division of Cargotec, announced its acquisition of the product rights for the electric terminal tractor line from Lonestar Specialty Vehicles (LSV) based in the U.S.
- In March 2023, TICO (Terminal Investment Corporation) Manufacturing, recognized as a leading manufacturer of terminal tractors and one of North America’s largest terminal tractor fleet owners and operators, unveiled the full-scale production of its pro-spotter electric terminal tractor. Collaborating with Volvo Penta, is a Swedish marine and industrial engine manufacturer, TICO has incorporated Volvo Group's established driveline, batteries, and electronic accessories into the pro-spotter electric (EV model). Having received initial orders for this model during its pre-production phase, TICO plans to deliver its inaugural retail unit by May 2023, with mass production set to begin later in the second quarter of this year.
- In February 2023, Orange EV manufactures and sells heavy-duty industrial electric vehicles, introduced its T-Series electric terminal truck to the market. Setting itself apart, the T-Series from Orange EV offers capabilities comparable to traditional diesel terminal trucks but with enhanced benefits. Operators can transport equivalent loads while experiencing a 90% reduction in fuel costs and completely eliminating both diesel fuel consumption and emissions.
Acquisition and partnerships
- In June 2022, Kriete Truck Centers is a 3rd generation family-owned truck dealership organization, revealed its new status as an authorized dealer for Autocar terminal tractors.
- In June 2021, Autocar, LLC, recognized as North America’s pioneering brand specializing in severe-duty vocational trucks, partnered with Big Truck Rental, the continent’s foremost rental provider for essential services vehicles, to unveil North America’s sole national terminal tractor rental initiative for fleets. This significant collaboration addresses a notable void in the underserved terminal tractor rental sector.
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