Fuel

Transportation Secretary Pete Buttigieg acknowledged the lack of sustainable transportation financing sources, but suggested an increase to the federal fuel tax rate would not offer a long-term solution.

Former Michigan Gov. Jennifer Granholm won Senate confirmation Feb. 25 to be President Joe Biden’s energy secretary. The vote was 64-35.

The U.S. Postal Service currently plans for only 10% of its new truck fleet to be electric, Postmaster General Louis DeJoy said Feb. 24, angering environmentalists who say the move flies in the face of a White House executive order to electrify the government’s vehicles.

Daimler AG’s truck unit will focus on restoring earnings this year and start producing an electric big rig as it gets ready to separate from the larger Mercedes-Benz luxury-car division after more than a century.

Ford Motor Co. CEO Jim Farley said the U.S. must begin building batteries for the coming wave of electric vehicles in order to avoid supply disruptions like the semiconductor shortage now shutting American auto factories.

A school system outside Washington is poised to become the nation’s biggest operator of electric school buses.

Shares in Tesla Inc. gained in U.S. premarket trading, indicating that investors are buying the dip following a four-day drop that erased the electric carmaker’s year-to-date gains.

Electric-vehicle maker Workhorse Group Inc. plunged on Feb. 23, triggering multiple trading halts, after a key U.S. Postal Service contract that some had expected it to win went to rival Oshkosh Corp. instead.

Tesla Inc. shares wiped out their year-to-date gains Feb. 23 and briefly traded below the level where they were when the electric carmaker entered the S&P 500 Index in December.

Nikola Corp. announced updates on its zero-emission hydrogen fuel-cell electric commercial truck program as the company vied for attention beside other truck makers in an increasingly crowded space it helped create in 2016 with its introductory announcement.