Nov. 11, 2011
BOSTON — A 2 1/2-year-old company in Boston is advancing in its quest to make commercial vans and trucks greener and more fuel-efficient. XL Hybrids is building a hybrid electric powertrain that can be installed on either existing vehicles or new ones. Starting in January, the startup will begin pilot-testing cargo vans retrofitted with the system, which promises to reduce fuel consumption and emissions by 20 percent. Come June, a couple dozen such vehicles could be tooling around New England roads.
In other innovation news, BestBuy paid $167 million to acquire MindShift Technologies, Waltham-based IT services provider. This move expands Best Buy’s business as it faces increasing competition from e-commerce sites like Amazon.
Rhythm Pharmaceuticals, a Boston startup developing experimental obesity and diabetes treatments, hired Keith Gottesdiener, a veteran of the pharmaceutical giant Merck, as its new CEO.
Struggling drugmaker AMAG Pharmaceuticals of Lexington saw its stock go up 18 percent on Monday after announcing its CEO’s departure and its plans for reducing operating expenses.
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