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☆ No, the electric vehicle market isn’t crashing. It just needs recharging.
▼ + stars: | 2024-05-01 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

The second is the rate of EV sales growth is slowing, at least temporarily. The EV market is not collapsing, experts say, it’s just entering a new phase. Teslas still make up slightly more than half of all the electric vehicles sold in America, according to a report from Cox Automotive. But, just one year ago, Tesla produced more than 60% of all the EVs sold America. After having trouble cranking up production of its new generation of electric vehicles, GM seems to be accelerating.

Persons: it’s, ”, Coco Zhang, “, Teslas, Tesla, Cox, Ford, China’s Geely, Michael Lenox, Corey Cantor, Cantor, ” Cantor Organizations: New, New York CNN, International Energy Agency, ING, CNN, Cox Automotive, Ford, General Motors, Blazer, European Federation for Transport, Volvo, EV, China Passenger Car Association, University of Virginia, Bloomberg New Energy Finance, Vehicles, Chevrolet Bolt, Dodge Locations: New York, That’s, EVs, America, China, Europe, United States, ’

☆ Fisker's woes are another reason to consider leasing an EV over buying
▼ + stars: | 2024-05-01 | by ( Graham Rapier | ) www.businessinsider.com time to read: +4 min

There are several reasons to consider leasing an EV over buying. To be sure, the vast majority of EV owners don't have to worry about the maker of their vehicles imminently going out of business. AdvertisementUsed EV prices are a huge question markThere's limited data on EV resale prices. Pre-owned EV prices have fallen in line with new EV prices. EV leasing is growing in popularityLeasing an EV is no longer a niche concept.

Persons: —, Fisker, Cox, Polestar, Paul Jacobson Organizations: Service, EV, Leasing, International Energy Agency, American, Tesla, Cox Automotive, Electrek, Lease

☆ South Africa has one of the world’s largest manganese reserves. So why does it outsource for processing?
▼ + stars: | 2024-04-30 | by ( Jackelyn Prager | ) edition.cnn.com time to read: +5 min

CNN —On delivery day at the Manganese Metal Company’s industrial complex in Mbombela, South Africa, truckloads of manganese ore from the Kalahari Basin in the Northern Cape are ushered inside for processing. South Africa has the world’s largest manganese reserves; however, the International Manganese Institute estimates only 2% of the manganese ore produced within the country is locally processed. The Manganese Metal Company says it receives 80,000 tons of ore every year, with plans to build a $25 million commercial processing plant by the end of 2026. With an abundance of manganese reserves, South Africa has potential to become a leader in high purity manganese sulfate production, but d’Harambure says “issues with the electricity sector in South Africa” and “an increase in electricity prices” have made it difficult to produce manganese chemicals and alloys there. Green potentialThese obstacles are not stopping the Manganese Metal Company from trying to capitalize on the EV boom and expand its processing facilities.

Persons: Louis Nel, ” Nel, Aloys d’Harambure, Nel, ” d’Harambure, ”, d’Harambure, D’Harambure, It’s Organizations: CNN, International Manganese Institute, Metal, International Energy Agency, Metal Company, Employees, Manganese Locations: Mbombela, South Africa, Northern, EVs, China, Mexico, Australia, Europe, Africa

☆ India 'confident' new EV policy measures will allow more foreign players to enter market
▼ + stars: | 2024-04-26 | by ( Sumathi Bala | ) www.cnbc.com time to read: +4 min

"It was meant for all global EV manufacturers and domestic manufacturers." While much of the "buzz has been around Tesla," Singh underscored the initiatives will also attract other foreign automakers, highlighting that Vietnam's leading EV maker "VinFast has already announced its intent." In February, VinFast broke ground on its integrated EV manufacturing facility in India's southern state of Tamil Nadu. As competition in India's EV sector remains limited, the entry of major players like Tesla, will level the playing field, MG Motor India's CEO Emeritus Rajeev Chaba told CNBC. Robust trajectoryAccording to Counterpoint Research, India's EV sales nearly doubled in 2023, driven by rising consumer interest and government initiatives, among other factors.

Persons: Rajesh Kumar Singh, CNBC's, Singh, VinFast, Elon Musk, Narendra Modi, Tesla, Rajeev Chaba, EVs, Modi, Ola, Bain Organizations: Department, Promotion, Industry, Internal, EV, CNBC's Sri, Motor, CNBC, Counterpoint Research, International Energy Agency, TVS Motor, Bajaj, Ampere, Bain & Company Locations: India, Tamil Nadu, China

☆ Dubai’s floods were made worse by climate change, scientists find
▼ + stars: | 2024-04-25 | by ( Angela Dewan | ) edition.cnn.com time to read: +5 min

Using scientific models, the team was unable to determine precisely how much more likely climate change had made the floods. Changing circulation patterns driven by global warming are also increasing rainfall intensity, the analysis noted. Global warming was the only remaining reason they could identify to explain the heavier downpour. However, the focus must be on slowing climate change, she added. “While we can’t stop El Niño, we can stop climate change,” Otto said.

Persons: Amr Alfiky, ”, Sonia Seneviratne, Mansour Almazroui, King Abdulaziz University’s, Friederike Otto, Niño, Otto said, El, ” Otto, Francois Nel, Sultan Al, Jaber, CNN’s Abbas Al Lawati Organizations: CNN, United Arab, United Arab Emirates, Global, Reuters “, Institute for Atmospheric, Science, King Abdulaziz University’s Center, Excellence, Change, Grantham Institute, International Energy Agency Locations: United Arab Emirates, Oman, El, Dubai, UAE, Dubai’s, Zurich, Jeddah, Saudi Arabia, London, Paris, deadlier

☆ The US is under pressure to lead the way in reducing plastic pollution — but it keeps making more of it
▼ + stars: | 2024-04-25 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +6 min

World leaders are gathering in Ottawa, Ontario, this week to hash out a global treaty to end plastic pollution. This story is available exclusively to Business Insider subscribers. AdvertisementHundreds of businesses and countries support cutting plastic production. Lin represents the Business Coalition for a Global Plastics Treaty, which includes more than 200 companies. Cutting plastic production would also hit the bottom line of oil majors such as Exxon.

Persons: Carroll Muffett, Jose Fernandez, Biden, Allison Lin, Lin, Stewart Harris, Harris, Neil Nathan, Nathan, He's Organizations: Service, Business, Center for International Environmental Law, Organization for Economic Co, Lawrence Berkeley National Laboratory, State Department, Mars Inc, Business Coalition, Global Plastics, Walmart, PepsiCo, International Council of Chemical Association, Oxford Economics, Exxon, The International Energy Agency, UC Santa Barbara, US Locations: Ottawa , Ontario, Russia, Iran, Saudi Arabia, Washington, DC, Paris, Ottawa, Belgium

☆ Analysis: China’s EV market reshaped by a brutal elimination round
▼ + stars: | 2024-04-24 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —A “life and death race” has begun to unfold in the world’s largest market for electric vehicles (EV). More than a dozen passenger carmakers disappeared from the market last year, according to statistics from the China Passenger Car Association. Too many playersOvercrowding is another major issue plaguing China’s EV industry. Last month, Xiaomi, a Chinese smartphone brand, launched its electric car, the SU7 sedan. “China’s EV industry has entered a stage of cyclical adjustment after two decades of growth,” he said at a forum in Beijing.

Persons: ”, Tesla, Mark Rainford, Richard Yu, Li Auto, “ They’re, Huawei’s Aito, Lei Jun, BYD, Rainford, Gan Jiayue, Wang Chuanfu, Yin Tongyue Organizations: Hong Kong CNN, Auto China, YouTube, China, “, National Development, Reform Commission, China Passenger Car Association, WM, Mitsubishi Motors, Honda, Hyundai, Ford, Huawei, EV, China Association of Auto Manufacturers, China’s EV, Li, Tesla, Porsche, Geely Auto, Meizu, Chery Auto, International Energy Agency Locations: China, Hong Kong, Beijing, Shanghai, oversupply, Meizu

☆ Solar manufacturers petition U.S. to impose tariffs on imports from four Southeast Asian nations
▼ + stars: | 2024-04-24 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

A coalition of U.S. solar manufacturers petitioned the federal government on Wednesday to impose tariffs on imports from four Southeast Asian nations, alleging that the countries are flooding the U.S. market with cheap products that threaten the domestic industry. The other six parties to the petition are Convalt Energy, Meyer Burger, Mission Solar, Qcells, REC Silicon and Swift Solar. They are requesting that the Commerce Department impose tariffs on solar cell imports from the four countries as a remedy. "This case is bad news for clean energy jobs and American solar manufacturing," Array CEO Kevin Hostetler said in a statement Wednesday. The ITC and Commerce Department investigations will take about 12 months to conclude, Brightbill said.

Persons: Meyer Burger, Tim Brightbill, Joe Biden, Brightbill, Kevin Hostetler, Janet Yellen, Biden Organizations: U.S, Convalt Energy, International Trade Commission, Commerce, ITC, Initiative, Commerce Department, Solar Energy Industries Association, American Clean Power Association, Advanced Energy, American Council, Renewable Energy, Technologies, International Energy Agency, IEA, CNBC Locations: Zhangye city, Gansu province, China, Cambodia, Malaysia, Thailand, Vietnam, U.S, The U.S, Beijing's

☆ America's Plastic Catastrophe: Most Waste Can't Be Recycled
▼ + stars: | 2024-04-24 | by ( Taylor Dorrell | ) www.businessinsider.com time to read: +14 min

It's an urgent question — what do we do with the 40 million tons of plastic waste we produce annually? One year of plastic waste is roughly enough to smother the entirety of Manhattan a meter deep, and it has to go somewhere. For decades, America sent its plastic waste to countries like China and Indonesia. Unlike aluminum or glass, the plastic that can be recycled rarely results in replacing one recycled water bottle with another. By downcycling a tiny portion of plastic waste, companies can genuinely reuse a relatively small share of plastic, while convincing consumers that the industry has created a circular economy of infinitely recycled plastic.

Persons: Kartik Byma, they're, Tim Miller, Susan Freinkel, Nestlé, Lea Suzuki, Larry Thomas, what's, Taylor Dorrell, Biden, that's, Taylor, Miller, Kelley Sayre, Vicky Abou, it's, Mike Bloomberg, Bloomberg, Espen Barth Eide, Norway's, Abou, It's Organizations: Getty, America, Chevron, Exxon, Paper Stock, Plastics Industry Association, Organization for Economic Co, San Francisco, NPR, International Energy Agency, ExxonMobil, Alterra Energy, National Renewable Energy Laboratory, Royal Paper Stock, Akron, Buckeye Environmental, Business, Eastman Chemical Co, American Chemistry Council, New, Beyond Plastics, UN, Buckeye Environmental Network Locations: America, Manhattan, China, Thailand, Malaysia, Indonesia, AFP, Ohio, American, San Francisco, Akron, Taylor Dorrell Akron , Ohio, United States, Oregon, New York City

☆ The electric car revolution is on track, says IEA
▼ + stars: | 2024-04-23 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

“The continued momentum behind electric cars is clear in our data, although it is stronger in some markets than others,” IEA executive director Fatih Birol said in a statement. Last year, global EV sales grew 35% to almost 14 million. “Intensifying market competition and improving battery technologies are expected to reduce (EV) prices in the coming years,” the IEA said. “Growing electric car exports from Chinese automakers, which accounted for more than half of all electric car sales in 2023, could add to downward pressure on purchase prices,” it added. By 2030, almost one in three cars on the roads in China is set to be electric, according to the IEA.

Persons: —, Tesla, “, Fatih Birol, China’s BYD, Brandon Bell, EVs, ” Birol Organizations: London CNN — Global, International Energy Agency, IEA, Li, Getty, European Union, EV, Volkswagen, Audi, BMW Locations: China, Chinese, Germany, United States, Austin , Texas, EVs, Europe

☆ Three Places Changing Quickly to Fight Climate Change
▼ + stars: | 2024-04-22 | by ( Delger Erdenesanaa | ) www.nytimes.com time to read: +1 min

Atmospheric concentrations of carbon dioxide, the main greenhouse gas, have passed a dangerous new threshold as people continue to burn fossil fuels. Is anyplace making progress on climate change? Steps like these, taken individually, aren’t enough to avoid the most serious consequences of climate change — worsening droughts, intensified storms and human suffering. Still, they show how some places are pulling off significant local changes very quickly. Globally, “we’re not moving as fast as we need to,” said Thomas Spencer, an analyst at the International Energy Agency.

Persons: ”, Thomas Spencer Organizations: International Energy Agency Locations: South America, China, Paris

☆ Carrier, the century-old inventor of the air conditioner, is moving on to the home heat pump
▼ + stars: | 2024-04-22 | by ( Bob Woods | ) www.cnbc.com time to read: +10 min

Andrew Aitchison | In Pictures | Getty ImagesIn case you haven't noticed, heat pumps are hot. But there are other reasons why heat pumps are fast becoming popular with homeowners. All of this is transforming Carrier Global , the nearly 100-year-old manufacturer whose founder, Willis Carrier, invented air conditioning. Heat pumps have a history dating back to 1850s The thermodynamic science behind heat pumps was developed in the 1850s, when the first ones were invented, and they've been used in homes since the 1960s. Heat pumps use electricity to transfer heat from a cool space to a warm space, making the cool space cooler and the warm space warmer.

Persons: CARR, Andrew Aitchison, Willis Carrier, David Gitlin, Carrier, Hakan Yilmaz, Yilmaz, they've, Michael Kretschmer, Sebastian Kowalski, Kretschmer, Tobie Stanger, Dave Lis, Viessmann, Milena Oliveira, Oliveira, Mark Prodan, Prodan, There's Organizations: Carrier Global, United Technologies, Solutions, East Trade Policy, Getty, International Energy Agency ., U.S . Climate Alliance, Consumer, Energy Efficiency, Carrier, M, Energy Star Locations: Gardens , Florida, Saxony, Leipzig, America, U.S, Maine, Michigan, Indian, Connecticut, New York State

☆ How a Jack Dorsey-backed bitcoin miner uses a volcano in Kenya to turn on the lights in rural homes
▼ + stars: | 2024-04-20 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +9 min

watch nowHELL'S GATE, Kenya — Two-and-a-half hours northwest of Nairobi by car, a small group of bitcoin miners set up shop at the site of an extinct volcano near Hell's Gate National Park. "That doesn't happen without the bitcoin miners and us being globally distributed." MacKenzie SigalosWherever the operation, bitcoin mining is a volatile business, because so much of the economics depends on the price of the cryptocurrency. Before getting into bitcoin mining, he and his two co-founders, Philip Walton and Janet Maingi, spent years building internet connectivity infrastructure in rural and urban Africa. Demand from bitcoin miners on these semi-stranded assets is making renewables in Africa economically viable.

Persons: Jack Dorsey's, MacKenzie Sigalos, Erik Hersman, Bitcoin, Gridless, Lake Naivasha, bitcoin, Adam Sullivan, Philip Walton, Janet Maingi, Michael Gottschalk, Nic Carter, Carter, Hersman, It's, it's Organizations: CNBC, Kenyan, Core, Deutsche Bank, Marathon, United Arab, Getty, Island Ventures, Miners, International Energy Agency Locations: Kenya, Nairobi, Lake Naivasha, Malawi, Zambia, Venezuela, Lebanon, Gate, Lake, U.S, Texas, Russia, China, America, Africa, Toronto, Argentina, Florida, United Arab Emirates, Paraguay, Hersman, Sudan, Iceland, El Salvador, Bhutan

☆ Thinking beyond Nvidia to other AI stocks earned this investor once in a lifetime returns
▼ + stars: | 2024-04-18 | by ( Jason Gewirtz | ) www.cnbc.com time to read: +5 min

Using this strategy, he identified three big winners: Eaton , Vertiv and Super Micro Computer . Around the same time the fund picked Eaton, Ocean Park also was buying Vertiv. On Tuesday, Loop Capital analysts put a $1,500 target on Super Micro. Having three stocks in the portfolio perform like Eaton, Vertiv and Super Micro may be a once in lifetime event. Jean-Jacques said the firm has about 40 long positions in its biggest fund, the Ocean Park Omaha Dislocation Fund.

Persons: J, Dennis Jean, Jacques, Jean, Eaton, FactSet, Dave Cote Organizations: Investments, Chief, Nvidia, Devices, CNBC, Micro, International Energy Agency, Whirlpool, Loop Capital, JPMorgan, Ocean, Honeywell Locations: Vertiv, Eaton, Columbus, Westerville , Ohio, San Jose , California, Omaha

☆ Eco-friendly data centers help drive $6.3 billion of green investment in Southeast Asia, but report shows more needed
▼ + stars: | 2024-04-16 | by ( Dylan Butts | ) www.cnbc.com time to read: +3 min

The analysis, conducted by Bain & Company, GenZero, Standard Chartered and Temasek, found that $6.3 billion of green investments flowed into the region, representing a 21% year-on-year increase. Last year, Malaysia attracted large-scale green financing of over $500 million for at least two data centers, according to the Monday report. watch nowThe move came after the Singaporean government unveiled a sustainability standard for data centers operating in tropical climates. Despite these efforts, Singapore's overall green investments fell in 2023 to $0.9 billion from $1.2 billion a year prior. Green investment towards power in the region fell by 14% year-over-year for the second year in a row.

Persons: Singapore —, Kimberly Tan, GenZero's Tan Organizations: Istock, Getty, Bain & Company, GenZero, Chartered, International Energy Agency, Singapore Locations: Asia, Temasek, Malaysia, Singapore

☆ Camels evolved from a cold-weather ancestor. We could learn from their remarkable transformation
▼ + stars: | 2024-04-16 | by ( Bill Weir | ) edition.cnn.com time to read: +11 min

“Gentoo penguins are big climate change winners in the Antarctic,” Heather Lynch told me. Conversely, the more flexible gentoo penguins keep moving farther and farther south, chasing new prey, and even abandoning nests to increase the odds of long-term survival. Julian Quinones/CNNThe gentoo population has exploded by as much as 30,000% in just a few years. Bill Weir/CNNHere lieth the lesson of the camel and the gentoo: Heat will move us, one way or another. I just know River won’t be satisfied without a magic plot twist that somehow saves all creatures great and small.

Persons: Bill Weir, —, “, ”, Bill, CNN's, Julian Quinones, Camels, CNN Bill, I’d, ” Heather Lynch, penguins, we’ve, it’s, Xiulin Ruan, CNN Julian Quinones, “ Don’t, Energy's Organizations: CNN, Brooklyn, Central Park Zoo, CNN Penguins, Stony Brook University, gentoo, Purdue, International Energy Agency, Global Locations: Canada, North America, dromedaries, Sudanese, Egypt, Southern Ocean, Antarctica, Manhattan, British Columbia, Yorkshire, England, Phoenix, Japan, Seville, Spain, Miami, Los Angeles, Angeles, Olivia, Colombia, CNN Seville, China, India, Maine

☆ Oil prices fall after Iran attack as market draws down risk premium
▼ + stars: | 2024-04-15 | by ( ) www.cnbc.com time to read: +2 min

Oil prices fell at Asia's open on Monday, as market participants dialed back risk premiums following Iran's attack on Israel late on Saturday which the Israeli government said caused limited damage. The attack involving more than 300 missiles and drones was the first on Israel from another country in more than three decades. Oil benchmarks had risen on Friday in anticipation of a retaliatory attack by Iran, touching their highest levels since October. But prices still ended the week down about 1% after the International Energy Agency lowered its forecast for oil demand growth this year. A "less certain path to Fed rate cuts" because of persistent U.S. inflation also weighed on prices, Sycamore said.

Persons: Brent, Tony Sycamore, Jorge Leon, Analysts, Sycamore Organizations: West Texas, Israel's, Iran, International Energy Agency, Rystad Energy Locations: Tutong district, Brunei, Israel, Iran, Damascus, Gaza, U.S, Syria, Strait, Hormuz, East, Europe

☆ IEA downgrades oil demand growth forecast as prices heat up on elevated Middle East tensions
▼ + stars: | 2024-04-12 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

The International Energy Agency on Friday downgraded its forecast for 2024 oil demand growth, citing "exceptionally weak" OECD deliveries, a largely complete post-Covid-19 rebound and an expanding electric vehicle fleet. In its latest monthly oil market report, the IEA said it had revised down its 2024 oil demand growth forecast by around 100,000 barrels per day (bpd) to 1.2 million bpd. The IEA's report comes amid a rebound in oil prices on elevated Middle East tensions, with energy market participants closely monitoring the prospect of supply disruptions from the oil-producing region. Asked about some of the main concerns relating to oil supply security, Bosoni replied, "We are watching, obviously, the Middle East very closely. "So, there are several tension points in the oil market today that we're watching very closely that could have major impacts ... if there would be any significant outages," she added.

Persons: CNBC's, Bosoni Organizations: The International Energy Agency, Organization of, Petroleum, Brent, U.S, West Texas Locations: Monahans , Texas, Iran, Israel, Syrian, Damascus, London, China, Europe, United States, Russia, Ukraine

☆ Surge of EV sales in China and Europe is curbing gasoline demand, IEA says
▼ + stars: | 2024-04-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSurge of EV sales in China and Europe is curbing gasoline demand, IEA saysToril Bosoni, head of oil industry and markets division at the International Energy Agency, reviews the outlook for oil demand growth over the coming months.

Persons: Toril Bosoni Organizations: International Energy Agency Locations: China, Europe

☆ Oil consolidates gains amid concerns of worsening Middle East crisis
▼ + stars: | 2024-04-11 | by ( ) www.cnbc.com time to read: +2 min

Oil prices held steady in early Asian trading on Thursday after gaining a dollar a barrel in the prior session as investors braced for a worsening of the Middle East crisis, potentially involving Iran, the third-largest oil producer in OPEC. Oil prices held steady in early Asian trading on Thursday after gaining a dollar a barrel in the prior session as investors braced for a worsening of the Middle East crisis, potentially involving Iran, the third-largest oil producer in OPEC. A Bloomberg report on Wednesday said the U.S. and its allies believe major missile or drone strikes by Iran or its proxies against Israel are imminent. "The market has become increasingly concerned that the Israel-Hamas war could escalate across the Middle East, putting oil supply at risk," ANZ analyst Daniel Hynes said. Oil traders will also be looking out for a monthly oil market report from the OPEC due to be published later on Thursday, and the International Energy Agency's oil market report due on Friday.

Persons: Antony Blinken, Yoav Gallant, Daniel Hynes Organizations: Brent, U.S, West Texas, Hamas, Bloomberg, Israeli, U.S . State Department, ANZ, International Energy Locations: Iran, Gaza, Israel, Syria, U.S, United States

☆ Coal power grew in 2023 driven by China’s expansion and a slowdown of US plant closures
▼ + stars: | 2024-04-11 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

CNN —The world’s coal-fired power capacity grew 2% last year, its highest annual increase since 2016, driven by new builds in China and decommissioning delays elsewhere, according to research published on Thursday. Coal-fired capacity outside China also grew for the first time since 2019, while worldwide only 21.1 GW was shut down, the survey found. Currently, however, another 578 GW of coal capacity is in development. China’s coal plant retirement rate was also at its lowest in a decade last year, amid concerns over energy security. With coal-fired power incompatible with China’s declared longer-term climate goals, GEM said China is running the risk of being lumbered with billions of yuan in stranded assets.

Persons: Flora Champenois, “, ” Champenois, China’s, ” Organizations: CNN, Global Energy Monitor, GEM, International Energy Agency Locations: China, Paris, India

☆ Opinion: The male drivers who just can’t let go of their stick shift
▼ + stars: | 2024-03-27 | by ( Opinion Paul Hockenos | ) edition.cnn.com time to read: +7 min

Berlin CNN —For old-school connoisseurs of the automobile — usually men — driving means operating a beloved vehicle by touch, with three pedals underfoot and a shift stick at hand. Paul Hockenos Hayyan Al-YousoufIn Europe, this clientele is responsible for a good deal of the moaning about manual transmission’s demise. Well, Zen or not, the day of manual transmissions is speeding to an end — and this layman is shedding no tears. For one, the oft-repeated benefits of a stick shift over an automatic have been redundant now for years. The explanation: automatics select the right gear for the vehicle, usually the highest gear possible.

Persons: Paul Hockenos, ”, Paul Hockenos Hayyan, Mercedes Benz, upshift, ’ ”, Sigmund Freud, it’s, Robert M, It’s, —, “, Cristine Organizations: CNN, Berlin CNN, Porsche, BMW, Volkswagen, Swiss, Neue Zürcher, Art, Environmental Protection Agency, International Energy Agency, Toyota Locations: Berlin, Europe, New Berlin, Yousouf, Germany, New York, San Francisco, Oslo, Norway

The International Energy Agency, a Paris-based intergovernmental group, notes that in 2023 China accounted for around 60% of global electric car sales. Yellen's remarks are to be delivered Wednesday afternoon at Suniva — a solar cell manufacturing facility in Norcross, Ga. It is reopening, in part, because of incentives provided by the Democrats' Inflation Reduction Act, which provides tax incentives for green energy manufacturing. The European Union, also concerned about the potential threat to its auto industry, launched its own investigation into Chinese subsides for electric vehicles last year. “In the past, in industries like steel and aluminum, Chinese government support led to substantial overinvestment and excess capacity that Chinese firms looked to export abroad at depressed prices,” Yellen said.

Persons: Janet Yellen, China's, ” Yellen, ”, Xi Jinping, Xi Organizations: WASHINGTON, —, International Energy Agency, Treasury, Democrats, China, Trade Organization, U.S, Chinese Commerce Ministry, European Union, “, Communist Party Locations: China, Georgia, Paris, Norcross , Ga, U.S, Beijing

☆ ChatGPT’s boss claims nuclear fusion is the answer to AI’s soaring energy needs. Experts say not so fast
▼ + stars: | 2024-03-26 | by ( Laura Paddison | ) edition.cnn.com time to read: +8 min

Yet according to Sam Altman, head of ChatGPT creator OpenAI, there is a clear solution to this tricky dilemma: nuclear fusion. Nuclear fusion — the process that powers the sun and other stars — is likely still decades away from being mastered and commercialized on Earth. A section of JT-60SA, a huge experimental nuclear fusion reactor at Naka Fusion Institute in Naka city of Ibaraki Prefecture, Japan, on January 22, 2024. The sector was responsible for around 2% of global electricity demand in 2022, according to the IEA. But, he cautioned, this doesn’t necessarily mean AI’s electricity demand will fall.

Persons: Sam Altman, OpenAI, Altman, “, Lex Fridman, ” Altman, —, Alex de Vries, ”, Aneeqa Khan, ” Khan, Philip Fong, Vries, ” de Vries, Michael Khoo, “ We’re, Khoo, Yiannis Kourtoglou, Sen, Ed Markey, ” Markey, ” Khoo Organizations: CNN, Vrije Universiteit Amsterdam, University of Manchester, “, JT, Naka Fusion, Getty, International Energy Agency, Boston Consulting, Reuters, Microsoft, OpenAI, Boston Consulting Group, Google, Princeton, ” Locations: “, Naka, Ibaraki Prefecture, Japan, AFP, Pascal, Nicosia, Cyprus

☆ Electrification could overwhelm energy grids. Startups are betting on AI to make sure that doesn't happen
▼ + stars: | 2024-03-25 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +10 min

Today's energy grids are unable to keep up with the intense demand being heaped upon them. Globally, energy projects struggle to overcome permitting hurdles. Making smart grids a realityData was transmitted across a national energy grid for the first time in 2016. Startups selling them are hoping to alleviate pressure from physical grid infrastructure and allow operators to do more with the infrastructure they have. Victoria McIvor, an advisor to energy startups who was formerly an investor at the European climatetech firm World Fund, imagines a future where energy tariffs dictate when energy-intensive appliances run.

Persons: Rajesh Swaminathan, it's, Andrés Dancausa, Dancausa, Swaminathan, Victoria McIvor, Timothy Barat, Barat, Duncan Turner, SOSV, Turner, McIvor Organizations: Infrastructure, Service, International Energy Agency, Paris, Investors, Khosla Ventures, US Department of Energy, Fund, Octopus Energy, Continuum Industries, Software Locations: Europe, Ukraine, Portuguese, Amsterdam, California, London, VCs, Scottish

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