Fuel

Oil fell amid growing concerns that another wave of the coronavirus pandemic will lead to tighter lockdown measures and further stifle crude demand.

Mack Trucks announced it has delivered its heavy-duty LR Electric demonstration model to the New York City Department of Sanitation, which will put it through rigorous, real-world trials collecting refuse.

Nikola Corp. got its first sell-equivalent rating, with the electric-vehicle startup downgraded to underperform from neutral at Wedbush, citing the loss of a driving force in founder Trevor Milton’s departure, and the threat posed to hydrogen fuel’s appeal by Tesla Inc.’s “eye-popping battery innovations.”

Daimler AG has entered discussions with its powerful German labor unions to convert key engine and transmission factories for the electric-car era.

California will aim to halt sales of new gasoline-powered passenger cars and trucks by 2035, Gov. Gavin Newsom announced Sept. 23, a move he says would cut greenhouse gas emissions by 35% in the nation’s most populous state.

Volkswagen AG is setting a high bar for the first electric vehicle it will build around the globe.

Oil pared its advance Sept. 23 as stocks fell on the latest warnings from Federal Reserve officials about the economic outlook due to the coronavirus.

Tesla Inc. plans to manufacture a car that will cost $25,000 in about three years’ time, fulfilling an elusive long-term objective to sell a cheap mass-market electric vehicle, Chief Executive Officer Elon Musk said Sept. 22.

Elon Musk tempered expectations for Tesla Inc.’s long-awaited battery day by cautioning that the company will unveil something that won’t be widely produced for two years.

Paccar announced a collaboration with Faith Technologies and Schneider Electric to provide charging infrastructure for customers who purchase battery-electric models from Kenworth and Peterbilt in the United States and Canada.