Inflation and chip shortages are causing problems for this Winnipeg\u002Dbased electric bus maker. Read on to find out more
The company’s revenue totalled US$398 million, down from US$583 million in the second quarter of 2021. While revenue from its manufacturing segment decreased by US$176 million or 38 per cent because of reduced deliveries, revenue from its aftermarket segment increased eight per cent or US$114 million compared to last year.
“There is still tremendous uncertainty around anything with a microprocessor and frustrations around confidence of supply of anything that has electrical components associated with it,” the company’s CEO Paul Soubry said on a conference call.Article content The slowdown in the economy has also made it difficult to hire skilled people in some areas, he said.
In a bid to tackle “significantly increased inflation” in previous contracts, the company said that it was negotiating with customers to seek price increases and surcharges. “The majority of the impacts from inflation are expected to be seen in 2022 results due to legacy firm order contracts,” it said.Article content
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