Morning Minute | August 21, 2025

On this Thursday, August 21st, hear about the strategic merger between Workhorse Group and Motiv Electric Trucks, which aims to create one of North America's largest medium-duty electric truck original equipment manufacturers (OEMs) by combining their strengths in last-mile delivery and medium-duty vehicles. This all-stock transaction, valued at $5 million to approximately $105 million and expected to close in Q4 2025, is poised to target the $23 billion medium-duty truck market and generate at least $20 million in cost synergies by the end of 2026.  Richard Smith, son of FedEx's late founder Fred Smith, has been nominated for the company's board of directors, setting the stage for him to potentially follow in his father's footsteps as CEO. Currently serving as chief operating officer for FedEx Express International and Airline Operations, this nomination is widely seen as a key step in a succession plan, positioning him for increased responsibilities and to continue his father's legacy within the company.  Fraud-fighting tech company Highway has secured a strategic growth equity investment for its Carrier Identity platform, led by FTV Capital with additional funding from Lead Edge Capital. This investment aims to expand Highway's product suite and accelerate its growth in the freight brokerage market, providing crucial real-time carrier verification to help brokers combat skyrocketing fraud and improve efficiency within their networks.  Finally, don't miss out on upcoming FreightWaves events, including today's August state of freight webinar and the F3: Future of Freight Festival taking place in Chattanooga this October. You can also register for the Crossborder Summit at the very beginning of next month, and be sure to use the code MORNINGMINUTEF325 for a $900 discount on your F3 ticket. Learn more about your ad choices. Visit megaphone.fm/adchoices