Fuel

Elon Musk’s dizzying ascent in 2020 hit a new peak this week as he’s about to become the head of an S&P 500 Index company. That’s just days after surging to the second-richest person on the planet with a $139 billion fortune.

Hyundai Motor Group plans to build 23 electric vehicles on its new EV-dedicated platform, and is aiming to sell 1 million of the cars worldwide by 2025, the South Korean automaker said Dec. 2.

Carmakers that signed up for President Donald Trump’s battle with California over auto emissions are now being pressured to join a peace plan brought on by the election of Joe Biden.

Daimler Trucks North America and utility company Portland General Electric announced the co-development of a public charging site for medium- and heavy-duty electric commercial vehicles that is expected to be the first of its kind in the United States.

The Chicago City Council has voted to approve Mayor Lori Lightfoot’s 2021 budget proposal, which includes a fuel tax increase.

The U.S. Energy Information Administration reported Nov. 30 in its weekly survey that trucking’s main fuel increased 4 cents nationwide.

The North American Council for Freight Efficiency announced it has begun to explore autonomous goods movement by publishing a series of online articles under the banner NACFE’s Perspective on Autonomous Trucking.

Nikola Corp. and General Motors Co. announced a new nonbinding memorandum of understanding for a global supply agreement that would integrate GM’s Hydrotec fuel cell system for Nikola’s Classes 7-8 vehicles.

OPEC+ began two days of potentially complicated talks to hash out the size of its oil-production cuts next year, with the group’s president calling for caution in a fragile market.

Oil extended gains, trading at its highest level since March, on mounting optimism that recent breakthroughs on a COVID-19 vaccine will lead to a swift recovery in global energy demand next year.