Reproduced from Rhodium Group; Note: Low and high estimates based on COVID-19 trajectory and recovery; Chart: Axios Visuals

Electric trucks have the potential to displace enough oil to make a "significant dent" in transportation sector CO2 emissions, per a Rhodium Group analysis.

Why it matters: There's lots of buzz — and a lot of money — around electric trucks these days.

  • It estimates the long-term effects of a recent 15-state nonbinding pact to bolster the use of zero-emissions heavy trucks and other medium- and heavy-duty vehicles.
  • California, one of the states, also recently approved mandatory regulations on greatly increasing zero-emissions truck sales between 2024 and 2045.
  • The study also explores the impact if these state efforts were transformed into a nationwide mandate, which would mean more than half the U.S. medium- and heavy-duty fleet would be electric by 2045.

What they found: "If the [15-state] MOU were expanded nationally, the impact would increase six-fold. By 2035, cumulative oil demand would fall by 806 to 843 million barrels, expanding to 4.6 to 4.9 billion barrels by 2045," Rhodium finds.

  • "The long-term effect of expanding California’s approach nationally would reduce oil consumption in 2045 by 16 to 17%," the Aug. 13 analysis notes.

What we're watching: How a potential Joe Biden administration would seek to curb emissions from big trucks.

  • His plan calls eventually having 100% of medium-duty vehicle sales come from electric models, and "annual improvements" in the heavy-duty sector.
  • The analysis also comes as more electric trucks are coming into the market.

Go deeper: States team up in push for electric heavy vehicles

Go deeper

Sep 18, 2020 - Economy & Business

GM's eyes are wide open on Nikola partnership

GM CEO Mary Barra. Photo by Chip Somodevilla/Getty Images

This week General Motors found itself having to defend a deal in which it can't lose — illustrating how distorted the markets have become over newly public electric vehicle companies.

Catch up quick: On Sept. 8, GM announced a strategic partnership with Nikola Motor Co., a high-flying startup with ambitions to build electric and hydrogen fuel-cell trucks, but no revenue. Nikola shares soared 40% on the news, and GM climbed too.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 4 p.m. ET: 30,873,714 — Total deaths: 958,383— Total recoveries: 21,103,559Map.
  2. U.S.: Total confirmed cases as of 4 p.m. ET: 6,788,343 — Total deaths: 199,421 — Total recoveries: 2,577,446 — Total tests: 94,211,463Map.
  3. Politics: Testing czar on Trump's CDC contradictions: "Everybody is right" Ex-FDA chief: Career scientists won't be "easily cowed" by political vaccine pressure
  4. Education: What we overlooked in the switch to remote learning
  5. Health: The dwindling chances of eliminating COVID-19.
  6. World: England sets £10,000 fine for breaking self-isolation rules — The countries painting their pandemic recoveries green.

Biden to Senate GOP after RBG passing: "Please follow your conscience"

Joe Biden made a direct appeal to Senate Republicans in a speech addressing the passing of Supreme Court Justice Ruth Bader Ginsburg, urging them to "cool the flames that have been engulfing our country" by waiting to confirm her replacement until after the election.

The state of play: Senate Majority Leader Mitch McConnell said soon after the news of Ginsburg's death that President Trump's nominee would get a vote on the Senate floor.