Fuel

DETROIT — Toyota says it will roll out two new battery-electric vehicles and one plug-in gas-electric hybrid in the U.S. this year as the parade of new EVs continues.

Rivian Automotive Inc., the electric-vehicle startup backed by Amazon.com Inc. and Ford Motor Co., is looking to go public as soon as September at a valuation of about $50 billion and perhaps more, according to people familiar with the matter.

Daimler Trucks North America announced its proprietary Detroit ePowertrain for the upcoming Freightliner eCascadia and Freightliner eM2 models, and plans a $20 million investment in its Detroit brand manufacturing facility that will serve as the North American source of Detroit ePowertrain components.

Fuel cell truck startup Hyzon Motors Inc. agreed to a merger with blank-check company Decarbonization Plus Acquisition Corp. in a deal that values the two combined at more than $2 billion.

The nationwide average price of diesel fuel increased by 6.3 cents per gallon to $2.801, marking the 14th straight week with a gain and the largest rise in nearly 17 months, according to U.S. Energy Information Administration data released Feb. 8.

One week and two deals later, BP Plc has cemented the view that for an oil and gas company to go green, it must sacrifice profits.

The head of Daimler’s global truck operation believes the upcoming restructuring into a separate company positions it to accelerate growth in terms of both innovation and financial opportunity.

Oil set a fresh one-year high in New York with continued producer supply curbs helping spur strength everywhere from physical markets to the futures curve.

California is by far the national leader in enabling the use of electric cars and medium- and heavy-duty electric trucks, according to a state-by-state evaluation of electric vehicle policies and practices compiled by a leading nonprofit energy efficiency group.

Volvo Group reported fourth-quarter net income rose amid a surge in North American truck orders, but revenue slipped.