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Business, Technology, Equipment, Fuel

Hyzon SPAC Merger Includes $400 Million Investment

Hyzon A Hyzon vehicle. (Hyzon Motors)

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.

Ed Ludlow and Gillian Tan | Bloomberg News
February 9, 2021
Government, Business, Fuel

Diesel Surges 6.3¢ for Biggest Weekly Rise Since 2019

A tank being fueled with diesel Daniel Acker/Bloomberg News

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.

Connor D. Wolf | Staff Reporter
February 8, 2021
Business, Fuel

BP Swaps High Returns for a Cleaner Future With Unproven Profits

A train passes a BP Plc petrol station in London A train passes a BP Plc petrol station in London. (Chris J. Ratcliffe/Bloomberg News)

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.

Laura Hurst | Bloomberg News
February 8, 2021
Business, Technology, Equipment, Fuel

Daimler Restructuring ‘Dream Come True,’ Martin Daum Says

Daum Daum (Daimler AG)

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.

Joe Howard | Executive Editor
February 8, 2021
Government, Business, Fuel

Oil Extends Weekly Gain; Brent Pushes Toward $60 a Barrel

An oil pumping jack in Russia An oil pumping jack in Russia. (Andrey Rudakov/Bloomberg News)

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.

February 5, 2021
Government, Business, Technology, Equipment, Fuel

California Leads in Electric Vehicle Policies, Practices, Energy Nonprofit Says

California EV Connect charging stations at a Love's Travel Stop in California. (PRNewsfoto via EV Connect)

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.

Eric Miller | Senior Reporter
February 3, 2021
Business, Technology, Fuel

Volvo Group Posts Higher Q4 Net Income

Volvo lineup Volvo Group

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

Roger Gilroy | Senior Reporter
February 3, 2021
Business, Technology, Fuel, Autonomous, TCA

GM’s BrightDrop to Make EV600s for Merchants Fleet

Merchants EV600 Merchants Fleet

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

Kalea Hall | The Detroit News
February 3, 2021
Business, Technology, Fuel, Logistics, Autonomous

Amazon Starts Road Testing Rivian Electric Vans in Los Angeles

Rivian vehicle Amazon via YouTube

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.

Siddharth Philip | Bloomberg News
February 3, 2021
Business, Technology, Fuel, Autonomous

EV Startup REE Plans Merger With 10X Capital SPAC

EV plug Simon Dawson/Bloomberg

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.

February 3, 2021