Why it matters: This is a bright spot for CEO Elon Musk after a turbulent few months that saw an SEC investigation and settlement that forced Musk to relinquish his chairmanship.
Super Typhoon Yutu, the strongest storm on Earth in 2018, slammed into the Northern Mariana Islands in the western Pacific Ocean on Wednesday. The storm savagely battered the islands of Tinian, Saipan and Rota, with the eye completely engulfing Tinian at midday Wednesday. Super Typhoon Yutu is estimated to contain maximum sustained winds of at least 180 miles per hour, with higher gusts.
Why it matters: This storm is the strongest typhoon ever to strike the Commonwealth of the Northern Mariana Islands, and likely the strongest ever to strike the U.S. and its territories. “This is an historically significant event,” tweeted Michael Lowry, a FEMA hurricane specialist.
New York’s attorney general filed a lawsuit Wednesday against ExxonMobil, claiming the company defrauded shareholders by downplaying the expected risk of climate change to its business.
Why it matters: This lawsuit amps up the pressure significantly on Exxon as part of a broader fight over the degree to which oil companies should be held responsible in the climate change debate. Even the mere existence of a lawsuit is bad news for Exxon and the rest of the industry, and a successful lawsuit would be game-changing.
Tesla Motors will report its third-quarter financials this evening and CEO Elon Musk will speak with analysts.
Why it matters: Even by Tesla standards, this will be a closely watched set of numbers. Musk has pledged that the Silicon Valley automaker would become profitable and cash-flow positive in the second half of the year.
The startup accelerator Y Combinator is looking to fund entrepreneurs and non-profit researchers working on "frontier technologies" for removing carbon dioxide from the atmosphere.
The big picture: Y Combinator is among the most influential organizations in the startup world and has helped launch Dropbox, Airbnb and others. Its new request for applications comes two weeks after a major UN science report concluded that carbon removal — not just a huge expansion of zero-carbon energy — will be needed to prevent the dire consequences of allowing warming beyond 1.5°C above pre-industrial levels.
Dyson has selected Singapore as the location for a factory to build electric vehicles, and plans to begin producing them by 2021, according to multiple reports.
Why it matters: The company's multibillion dollar foray into EVs is a sign of the growing competitiveness in the sector. EVs remain a tiny portion of worldwide vehicle sales but are growing significantly.
Two companies today are disclosing a multi-million dollar investment in the solid-state battery startup Solid Power: chemical company Albemarle (a major lithium supplier) and Korean auto supply company Hanon Systems.
The big picture: This is another sign of the intensifying race to develop solid-state batteries for use in electric vehicles. It's a major technological challenge but holds the promise of developing safer and more energy-dense alternatives to today's lithium-ion batteries that have liquid electrolytes.
