Environment
Exxon Mobil is at a crossroads as climate crisis spurs clean energy transition
Exxon Mobil is one of the most consequential and profitable companies in U.S. history. For more than a hundred years, the company’s oil and gas have helped power the global economy. But the Exxon Mobil of today faces the seemingly opposing priorities of supplying the world with abundant energy and also drastically reducing its carbon […]
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BMW opens $2.2 billion EV plant in China as it ramps up challenge to Tesla, domestic players
German automaker BMW is ramping up production of electric vehicles in China as it looks to catch up with leaders Tesla and domestic rivals like BYD. The new plant in Shenyang is BMW’s third in China and brings its annual production capacity in the country to 830,000 cars. Anadolu Agency | Getty Images BMW has […]
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Amazon to invest $23 million to increase Seattle’s affordable housing
Grand Street Commons, a project in Seattle supported by the Amazon Housing Equity Fund Amazon Amazon said Thursday that it’s giving minority-led organizations $23 million to build and preserve more than 568 affordable homes in Seattle, a step to ease the local housing crisis. Amazon Housing Equity Fund, which emphasizes aiding households that earn 30% […]
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Chinese EV maker Nio says a car fell from third floor of a Shanghai office, killing two
Employees stand next to a ET7 sedan at a NIO Inc. dealership in Shanghai, China, on Wednesday, June 8, 2022. Qilai Shen | Bloomberg | Getty Images A test car made by Chinese electric vehicle start-up Nio fell out of a third-floor parking lot of a building in Shanghai, killing two people, the company said in a Weibo post on Thursday. The incident happened at around 5:20 p.m. Beijing time on Wednesday. One company staff member and a […]
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Musk says Tesla’s factories in Berlin and Texas are ‘gigantic money furnaces’
“The past two years have been an absolutely nightmare of supply chain disruptions, one thing after another, and we are not out of it yet,” Tesla CEO Elon Musk said. Patrick T. Fallon | Reuters Tesla’s newest car factories in Texas and Berlin are losing “billions of dollars right now” as supply chain disruptions hamper […]
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Germany triggers ‘alert level’ of emergency gas plan, sees high risk of long-term supply shortages
Habeck has previously warned the situation is going to be “really tight in winter” without precautionary measures to prevent a gas supply shortage. Picture Alliance | Picture Alliance | Getty Images Germany has declared it is moving to the so-called “alert level” of its emergency gas plan, as reduced Russian flows exacerbate fears of a […]
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World’s largest hybrid ship set to ferry passengers between Britain and France
An artist’s impression of the Saint-Malo at sea. According to Brittany Ferries will have a battery capacity of 11.5 megawatt hours. Brittany Ferries A ship set to carry passengers between the U.K. and France in the next few years will be the largest hybrid-vessel ever built, according to operator Brittany Ferries. In a statement Tuesday, […]
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Forest Service says it failed to account for climate change when it accidentally caused historic New Mexico fire
Fire official Ralph Lucas points to a forest burned by the Hermits Peak Calf Canyon near Holman, New Mexico, U.S., May 24, 2022. Picture taken May 24, 2022. Andrew Hay | Reuters The U.S. Forest Service failed to account for the effects of climate change when it conducted a controlled burn in April that prompted […]
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Raw material costs for electric vehicles have doubled during the pandemic
Workers inspect a Rivian R1T electric vehicle (EV) pickup truck on the assembly line at the company’s manufacturing facility in Normal, Illinois, US., on Monday, April 11, 2022. Jamie Kelter Davis | Bloomberg | Getty Images Raw material costs for electric vehicles more than doubled during the coronavirus pandemic, according to a new report Wednesday […]
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Mars says CEO Grant Reid is retiring and will be replaced by head of pet care unit
Grant Reid, president and chief executive officer of Mars Inc., speaks during a Bloomberg Businessweek Debrief event in New York, U.S., on Thursday, Jan. 10, 2019. Alex Flynn | Bloomberg | Getty Images Mars CEO Grant Reid is retiring after more than eight years in the role and will be replaced by the head of […]
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