Fuel

DETROIT — Merchants Fleet, a fleet management company, plans to purchase commercial EV vans from General Motors Co.’s newly formed company BrightDrop.

Amazon .com Inc. began testing the first lot of its Rivian Automotive Inc. electric delivery vans in Los Angeles as it works to fulfill a pledge to meet the goals of the Paris climate accord 10 years early.

REE Automotive, an electric-vehicle technology startup, has agreed to go public through a merger with 10X Capital Venture Acquisition Corp., a blank-check company, according to people with knowledge of the matter.

Oil climbed to the highest level in over a year as tightening global supplies and signs of strength in physical markets aided crude’s virus-recovery rally.

Truck maker Volvo Group and the travel plaza trade group Natso separately announced additional steps to ensure they assist in the infrastructure development and broader deployment of electric trucks.

The nationwide average price of diesel fuel rose 2.2 cents to $2.738 a gallon, according to Energy Information Administration data released Feb. 1.

Coal is on track to disappear from the U.S. power grid by 2033 as the push for a carbon-free electricity system gains strength, according to Morgan Stanley.

Battery maker Microvast Inc. will go public via a merger with blank-check company Tuscan Holdings Corp. in a deal that values the combined company at $3 billion.

The Biden administration is revoking dozens of invalid drilling permits issued by agency workers without the approval of political appointees, despite a temporary order for such reviews.