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Volvo Group reported higher second-quarter net income as revenue from truck sales rose 51% to set a quarterly record.

NEW YORK — The economy is a bit wobbly, but General Motors CEO Mary Barra isn’t backing off of an audacious prediction: By the middle of this decade, her company will sell more electric vehicles in the U.S. than Tesla, the global sales leader.

Rock guitarist Jack White, who extended his “Supply Chain Issues Tour” into October, might want to name his band’s next road trip after a different villain. That’s because supply strains, while still afflicting many consumers and businesses, are becoming more mundane.

China’s Contemporary Amperex Technology Co. Ltd., the world’s biggest maker of batteries for electric vehicles, is considering at least two locations in Mexico for a manufacturing plant to potentially supply Tesla Inc. and Ford Motor Co.

TOKYO — Toyota’s flagship model in Japan, the Crown, is going on sale around the world for the first time, including in the U.S.

Cummins Inc. announced Jennifer Rumsey will become CEO and president effective Aug. 1. Rumsey will become the first woman to hold the post at the world’s largest independent engine maker and only the seventh CEO in the company’s 103-year history.

U.S. Class 8 retail sales in June were the highest of the year and improved 12.7% compared with the previous June, Wards Intelligence reported.

WASHINGTON — Rep. Greg Stanton (D-Ariz.) joined Phoenix-based truck manufacturer Nikola Corp. to showcase two electric trucks near the U.S. Capitol Building.

A producer and distributor of renewable natural gas and a supplier of chassis-related systems and components for trailers, trucks and buses are separately planning for major expansions — one by going public and the other through consolidation.

Rivian Automotive Inc. is planning hundreds of layoffs to trim its workforce in areas where the electric vehicle maker has grown too quickly, according to people familiar with the matter.