Business: Page 72

EV
Tuesday Ticker: Rivian loses spot on Nasdaq-100 index; Nikola makes massive layoffs
Toronto, Ontario ⁠— In this weekly Tuesday Ticker, Rivian is replaced on the Nasdaq-100 index, controversial truck maker Nikola lays off almost a quarter of its workforce and a Quebec-based ADAS and sensor company makes a merger. Rivian removed The rumours were true⁠—Rivian has lost its spot on the Nasdaq-100 index. Nasdaq confirmed the news […]
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Collision Repair
Finish Line in Sight: Uni-Select achieves Investment Canada Act approval in LKQ acquisition process
Toronto, Ontario — Uni-Select announced Thursday its receipt of approval under the Investment Canada Act, moving the company one step closer to closing its acquisition deal with LKQ and its numbered company. “The above-mentioned approval satisfies the closing condition regarding the Investment Canada Act set forth in the arrangement agreement between Uni-Select, LKQ Corporation and […]
UNILKQ
Business
Stand Up Speak Out: 85 percent of industry reports ‘good’ understanding of mental health management at work
Toronto, Ontario ⁠— While workplace conversations around mental health are less stigmatized than a decade ago, there is still much work to be done, according to a recent survey of Collision Repair readers. During May, which is designated Mental Health Month, we ran a survey asking readers how they address and manage stress, whether it […]
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Network
Maritime Meeting: ARAAC, CARI prepare to host joint meeting in Halifax
Halifax, Nova Scotia — The Automotive Recyclers Association of Atlantic Canada (ARAAC) and Automotive Recyclers of Canada (ARC) board are partnering with the Canadian Association of Recycling Industries (CARI) to co-host events in Halifax, N.S. this weekend, on June 9 and June 10, at the Halifax Marriott Harbourfront Hotel. This was described as “the first […]
Network
A Look at LKQ: Company processed 700k+ vehicles in 2022, sold 13 million parts
Chicago, Illinois — LKQ Corporation released its 2022 Global Sustainability Report this week, in which the aftermarket salvage giant says it processed 770,000 vehicles in 2022, recycling 97 million pounds of aluminum, nearly seven million pounds of copper and more than 123 million pounds of scrap steel. According to data in the Sustainability Report, LKQ […]
Auto Insurance
Pricing Paradigm: Boyd’s Q1 sales driven by vehicle complexity, increased scanning and calibration services
Winnipeg, Manitoba ⁠— The Boyd Group reported its Q1 sales figures last month, with increases in sales based on “higher repair costs due to increasing vehicle complexity…increased scanning and calibration services and general market inflation,” said the company.  CEO Tim O’Day told investors during the earnings call that most of the company’s scanning and calibrations […]
theboydgroup
BUSINESS NEWS
GOING GLOBAL Collision Builders is expanding and is currently in discussion with multiple franchised collision repair businesses across the United States. According to a press release on the company’s LinkedIn profile, the team currently advises a twostore franchised collision repair business in California and is looking to provide collision repair business advice to more shops. […]
BUSINESS NIBS
Batteries for Bécancour: GM’s Québec CAM plant receives combined $600 million gov. investment
Bécancour, Québec — A joint project between General Motors and POSCO Future M has been approved for funding from federal and provincial governments, as the pair begin construction on an EV-battery materials processing facility in Québec. The forces behind what will come to be known as the Ultium CAM facility, set for Bécancour, Que., confirmed […]
BécancourCAMPlant
Tuesday Ticker: Nikola issued delisting warning from NASDAQ; Tesla, Ford deal drives share prices
Toronto, Ontario ⁠— In this weekly Tuesday Ticker, electric truck maker Nikola risks being delisted from NASDAQ while Ford and Tesla see an uptick in share price thanks to a Supercharged partnership. Nikola could be nixed Controversial electric truck maker Nikola is at risk of being delisted from NASDAQ, the company disclosed last Thursday in […]
nikola
Tuesday Ticker: Uber Canada drops 18+ age requirement; Rivian rides an upswing
Toronto, Ontario — In this post-long-weekend Tuesday Ticker, we cover Uber’s decision to allow teenagers on the app, while Rivian rides a small uptick in its share prices. Uber’s open policy Uber Canada is allowing teens to set up their own accounts on the app this summer as the rideshare company seeks to expand across […]
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Tuesday Ticker: Analysts hope Musk shifts attention to Tesla; Stellantis stops construction amid financial disputes and more
Toronto, Ontario — Stellantis airs its disputes with the federal government; Tesla fans hope Elon Musk turns his attention toward the EV brand and Boyd reports its Q1 financials in this weekly Tuesday Ticker. Stellantis stalemate Stellantis and LG Energy Solution have ceased construction on a planned EV battery factory in Windsor, Ont., over ongoing […]
PHOTO CBRE
TRAINING
PLASTIC SURGERY CARSTAR Canada welcomed its members to the company’s Hamilton, Ontario, headquarters in early February for an exclusive training session with Polyvance. The plastic repair training was conducted by John Wilburn, the head instructor of plastic repair and refinishing at Polyvance. The day began with a classroom learning portion, presented by Bill Davidge of […]
TRAININGNIBS
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