The Environmental Protection Agency’s (EPA) “strongest-ever” vehicle emissions standards designed to drive mass adoption of electric cars within a decade will increase the United States’ dependence on China, experts warn. “It benefits the Chinese Communist Party because they control the critical minerals supply chain that is going to be necessary to build out the batteries…
IN-DEPTH: Biden’s EV Plan Could Be Key to China’s Global Economic Dominance
April 17, 2023
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Ford to Convert Ontario Plant Into Electric Vehicle Complex
DETROIT—Ford Motor Co. says it will spend $1.34 billion ($1.8 billion Canadian) to convert an SUV factory in suburban Toronto so it can build next-generation electric vehicles. The roughly 3,000 workers at the plant in Oakville, Ontario, are expected to keep their jobs depending on market conditions, the company said Tuesday. But some production workers…
Volkswagen Invests in Batteries, Raw Materials in Race for Affordable EV
BERLIN—Volkswagen plans to invest 180 billion euros ($193 billion) over five years in areas including battery production and raw material sourcing in a bid to cut electric vehicle costs and protect its market share, it said on Tuesday. Over two-thirds of the company’s five-year investment budget announced on Tuesday is allocated to electrification and digitalization,…
Emerson Electric Unveils Hostile $7 Billion Bid for National Instruments
U.S. engineering and industrial software company Emerson Electric Co. on Tuesday disclosed a nearly $7 billion offer for National Instruments Corp., which it has been trying to buy unsuccessfully for several months. The software firm’s all-cash bid of $53 per share, which was first submitted to NI on Nov. 3, represents a premium of about…
Amazon.com to Invest Over 1 Billion Euros in European Electric Van, Truck Fleet
LONDON—Amazon.com Inc. said on Monday it will invest more than 1 billion euros ($974.8 million) over the next five years in electric vans, trucks, and low-emission package hubs across Europe, accelerating its drive to achieve net-zero carbon. The retailer said the investment was also aimed at spurring innovation across the transportation industry and encouraging more…
France’s Schneider to Buy Rest of Aveva in $11 Billion Deal
PARIS/LONDON—French industrial group Schneider Electric said it would proceed with a full takeover of British software company Aveva Plc, offering 31 pounds per share in a deal valuing the whole of Aveva at around 9.48 billion pounds ($10.8 billion). Schneider said its offer represented a premium of around 41 percent to Aveva’s closing share price…
Rolling Blackouts Possible as Texans Are Urged to Cut Back on Electric Use
The Electric Reliability Council of Texas (ERCOT), which operates the electric grid in the state, sent out requests late on July 10 asking Texans to cut back on their energy use the next day amid a heat wave and the potential for rolling blackouts. According to an active operations message posted to the ERCOT website, the grid operator issued a…
Gas, Electric, or Hybrid: True Costs and Savings
The national average price for gasoline in the continental United States reached $5 in mid-June. People who spend multiple hours in their cars daily were flummoxed. No one was likely to get an increase in salary to match the increase in gas prices, so most people were forced to refigure their transportation budgets accordingly. Meanwhile,…
Ferrari Promises Electric Means ‘Even More Unique’ Cars
MARANELLO, Italy—Electric and hybrid models should make up 80 percent of Ferrari’s sales by 2030, the luxury carmaker told investors on Thursday, vowing to produce “even more unique” cars as it makes the expensive shift to zero-emission driving. “We believe we can use the electric engine to enhance the performance of our cars,” Chief Executive…
Mercedes-Benz Launches Second All-Electric SUV
BERLIN—Mercedes-Benz unveiled its EQS sport utility vehicle (SUV) on Tuesday, a 660 km (410-mile) range car that will be made in America and go on sale by autumn. Production of the EQS, the premium carmaker’s second electric SUV after its EQC, will begin at its plant in Tuscaloosa, Alabama this year. The United States and…
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