Lucid Clinches SPAC Deal With 11th-Hour Appeal
Lucid Motors Inc.’s last-gasp appeal to investors succeeded in pushing through approval for the electric-car startup’s deal to go public by merging with a blank-check company.
July 23, 2021After Chip Crisis, Is Battery Shortage Next?
Rising demand from electric vehicles and challenges in securing raw materials will deliver a battery supply crunch for automakers already grappling with a chip crisis, according to a key Chinese manufacturer.
July 23, 2021EV Pickup Truck Maker Rivian Plans Second US Factory
Rivian Automotive Inc., the electric pickup maker backed by Amazon.com Inc., is looking for a location for a second assembly plant in the U.S. before it has produced its first vehicle.
July 22, 2021EV Startup Lucid’s SPAC Deal in Jeopardy
The blank-check company seeking to buy electric-car startup Lucid Motors Inc. made a last-minute appeal for retail shareholders to vote for the deal amid signs that it’s struggling to win their approval.
July 22, 2021Mercedes Sketches Out All-Electric Scenario by Decade’s End
FRANKFURT, Germany — Daimler AG’s luxury car brand Mercedes-Benz is stepping up its transition to electric cars, doubling the planned share of sales by 2025 and sketching out a market scenario in which new car sales would “in essence” be fully electric by the end of the decade.
July 22, 2021BHP Mulls Oil Exit in Retreat From Fossil Fuels
BHP Group is considering getting out of oil and gas in a multibillion-dollar exit that would accelerate its retreat from fossil fuels, according to people familiar with the matter.
July 20, 2021World’s Road Fuel Demand to Peak Earlier Than Expected
Demand for gasoline and diesel to fuel cars and trucks will peak in 2027 — four years earlier than expected — as more fuel-efficient autos and increasing adoption of electric vehicles curb global consumption, according to BloombergNEF.
July 20, 2021New Cybersecurity Order Issued for US Pipeline Operators
WASHINGTON — The Department of Homeland Security on July 20 announced new requirements for U.S. pipeline operators to bolster cybersecurity following a May ransomware attack that disrupted gas delivery across the East Coast.
July 20, 2021Honda Ditches Go-It-Alone Strategy to Make Safer Move Toward EVs
Honda Motor Co. long eschewed big strategic alliances, preferring to go it alone even as many of its carmaking peers banded to improve economies of scale. That strategy is changing now that the Japanese automaker is shifting more aggressively to electric vehicles.
July 20, 2021Diesel Rises 0.6¢ to $3.344 a Gallon
The national average price of diesel increased six-tenths of a cent to $3.344 a gallon, the second rise of less than a penny in as many weeks, according to Energy Information Administration data released July 19.
July 19, 2021