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☆ Why the hydrogen tax credit has become a lightning rod for controversy
▼ + stars: | 2023-10-13 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +16 min

The proposed tax credit, 45V, is meant to turbocharge the production of low-emissions hydrogen. "The IRA's section 45V production tax credit is the most generous clean hydrogen subsidy in the world," Jesse Jenkins, professor of macro-scale energy systems at Princeton University, told CNBC. John Macdougall | Afp | Getty ImagesThe adjudication of the hydrogen tax credit has become about more than just the hydrogen tax credit, too. The amount of the hydrogen tax credit, which is available for 10 years, depends on the emissions generated in making hydrogen. If hydrogen is produced without releasing any carbon emissions, the tax credit is maxed out at $3 per kilogram of hydrogen.

Persons: that's, It's, Jesse Jenkins, John Macdougall, Wilson Ricks, Jenkins, Ricks, Rachel Fakhry, electrolyzers, Andriy Onufriyenko, Eric Guter, Josef Kallo, H2FLY, Guter, Phil Musser, Shannon Angielski, Angielski, Shi, Fakhry Organizations: Istock, Treasury, Princeton University, CNBC, Daimler Truck Holding, Afp, Getty, Energy, Research, Princeton, Natural Resources Defense Council, Power, Singularity, Air Products, Bloomberg, Air, Products, Hydrogen Company, European, EU, NextEra Energy, Hydrogen Future Coalition, BP, Duke Energy, Exxon Mobile, General Electric, Siemens Energy, American, Shell, Hydrogen, Coalition Locations: Biden's, United States, U.S, Berlin, additionality, Maribor, Slovenia, Oxagon, Saudi Arabia, Wilbarger County , Texas

☆ Rates are rising in Europe. HSBC names the region's 'most and least vulnerable stocks'
▼ + stars: | 2023-09-19 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

CNBC Pro takes a look at the bank's two screens of "the most and least vulnerable" stocks: one for "cash-rich" companies and the other for "high leverage" names. 'Cash-rich' names HSBC named "cash-rich companies relatively immune to rising borrowing rates." HSBC's screens in this category include French luxury goods label Hermes International , with a net debt of 9,222 euros ($9,834.11), British food processing company Associated British Foods (net debt of 1,709.39 euros) and Swiss biotech player Bachem Holding (net debt of 271.15 euros). Names with high debt HSBC also screened for companies with high leverage, meaning high net debt to equity and net debt to EBITDA ratios. Companies with high debt are seen to be vulnerable to further rises in interest rates.

Persons: Snam, — CNBC's Michael Bloom Organizations: British, HSBC, CNBC Pro, Companies, Hermes, British Foods, Bachem, Nokia, Daimler Truck Holding, Imperial Brands, Benz Group Locations: Europe, Swiss, Finnish

☆ Jochen Goetz, Daimler Truck CFO, dies in 'tragic incident'
▼ + stars: | 2023-08-07 | by ( ) edition.cnn.com time to read: +1 min

Daimler Truck’s chief financial officer Jochen Goetz has died in a “tragic incident,” the company said on Sunday. Goetz, 52, died on Saturday, a statement said, without giving further details. Goetz spent his entire professional career, spanning more than 36 years, in the Daimler Group, and was largely responsible for the successful spin-off of Daimler Truck Holding from what is now the Mercedes-Benz Group in December 2021. “He played a key role in shaping today’s Daimler Truck company and, as CFO, consistently worked to ensure that the company is now more economically successful than ever before,” Chief Executive Martin Daum said. Goetz, who had held his current position since July, 2021, leaves a wife and two children.

Persons: Jochen Goetz, Goetz, “, Martin Daum, Joe Kaeser Organizations: Daimler, Daimler Group, Daimler Truck Holding, Mercedes, Benz Group, Siemens

☆ Daimler Truck CFO Jochen Goetz dies in 'tragic accident'
▼ + stars: | 2023-08-06 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO: Daimler AG sign is pictured at the IAA truck show in Hanover, Germany, September 22, 2016. REUTERS/Fabian Bimmer/File Photo/File Photo/File PhotoFRANKFURT, Aug 6 (Reuters) - Daimler Truck's (DTGGe.DE) Chief Financial Officer Jochen Goetz has died in a "tragic accident," the company said on Sunday. Goetz spent his entire professional career, spanning more than 36 years, in the Daimler Group, and was largely responsible for the successful spin-off of Daimler Truck Holding from what is now the Mercedes-Benz Group (MBGn.DE) in December 2021. "He played a key role in shaping today's Daimler Truck company and, as CFO, consistently worked to ensure that the company is now more economically successful than ever before," Chief Executive Martin Daum said. The company statement said Goetz had been distinguished by "his high level of professionalism as well as his positive, hands-on manner".

Persons: Fabian Bimmer, Jochen Goetz, Goetz, Martin Daum, Joe Kaeser, Vera Eckert, Andrew Cawthorne, Barbara Lewis Organizations: Daimler, IAA, REUTERS, Daimler Group, Daimler Truck Holding, Mercedes, Benz Group, Siemens, Thomson Locations: Hanover, Germany

[1/2] A 2020 Toyota Mirai hydrogen electric fuel cell car is displayed at the Canadian International Auto Show in Toronto, Ontario, Canada February 18, 2020. The decision marks a shift in focus for the Japanese automaker, a major backer of hydrogen fuel-cell vehicles as an alternative to electric vehicles. Toyota sold just over 3,900 fuel cell vehicles in 2022, less than half of 1% of its global sales of around 9.5 million vehicles. In May, Toyota and Daimler Truck Holding (DTGGe.DE) said they had agreed to cooperate on hydrogen technology and reached a preliminary deal to combine their truck businesses in Japan. Toyota launched its dedicated fuel-cell unit, the Hydrogen Factory, with 1,350 staff earlier this month.

Persons: Chris Helgren TOKYO, Hiroki Nakajima, Nakajima, Daniel Leussink, Kevin Krolicki, Louise Heavens Organizations: Canadian International, REUTERS, Toyota, North, Technology, Daimler Truck, Hydrogen, Fuji, Honda, General Motors, Thomson Locations: Toronto , Ontario, Canada, Europe, China, North American, Japan, California

☆ Toyota, Daimler in deal to combine Japan truck operations
▼ + stars: | 2023-05-30 | by ( ) www.cnbc.com time to read: +1 min

Daimler Truck Holding and Toyota Motor Corp said on Tuesday they had entered a non-binding agreement to combine the businesses of their truck units in Japan. Under the memorandum of understanding (MOU), the businesses of Daimler-owned Mitsubishi Fuso Truck and Bus Corp and Toyota subsidiary Hino Motors Ltd would be combined under a holding company, they said in a statement. Daimler Truck and Toyota will invest in the company equally and cooperate on the development of hydrogen and other technologies in areas such as connectivity and autonomous driving, the statement said. Last year, a committee tasked with investigating an emissions scandal at Hino, which became a Toyota subsidiary in 2001, found that the truck and bus maker had falsified emissions data going back to 2003. The heads of the four companies will hold a joint news conference in Tokyo at 4:30 p.m. (0730 GMT).

Meanwhile, BlackRock is part of another group investing $650 million to build chargers along freight routes. Because port real estate is at a premium, most early drayage charging projects will be "behind the fence" on trucking company property, experts said. Electric trucks cannot operate without chargers, but it does not make sense to build chargers if drivers are not using electric trucks. Prologis, the biggest U.S. warehouse owner, created its mobility business to install electric truck chargers and solar panels. "A marriage between real estate and energy infrastructure" will be needed to accelerate the transition to electric-powered trucking, Prologis Mobility's Holland said.

☆ Geely Chair Li Shufu sells his stake in Daimler Truck
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: 1 min

BERLIN, March 17 (Reuters) - Tenaciou3 Prospect Investment has sold its entire stake in Daimler Truck (DTGGe.DE), a Daimler Truck spokesperson said on Friday. "We can confirm that ... investor Tenaciou3 Prospect Investment Ltd has sold its shares in Daimler Truck Holding AG. We will not comment further," the spokesperson said. Tenaciou3 Prospect Investment is controlled by Chinese automotive group Geely's chairperson Li Shufu. Reporting by Victoria Waldersee, writing by Marie Mannes, editing by Anna RingstromOur Standards: The Thomson Reuters Trust Principles.

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