Axios

The coldest air in decades is infiltrating the Upper Midwest and at least 88 million people will see temperatures dip below 0°F by the end of this week.

Driving the news: Wind chills in some spots, including much of Minnesota, Wisconsin, Iowa and parts of Illinois, will plummet into dangerous territory of minus 50°F to minus 65°F at the peak of the outbreak on Wednesday morning.

After a marathon negotiating session, the German Commission for Growth, Structural Change and Employment appears to have reached a landmark agreement to phase out the country’s coal fleet no later than 2038 and as early as 2035. The agreement includes near-term plans to eliminate 12 gigawatts of existing coal plants in the next four years, equivalent to 25% of the country’s fleet.

Why it matters: According to the Intergovernmental Panel on Climate Change, the developed world must phase out its coal fleet no later than 2030 for the world to avoid more severe consequences climate change. However, Germany is one of only a few large industrial nations to formally pledge to phase out coal.

Saudi Arabia's Public Investment Fund hedged the majority of its 4.9% stake in Tesla on Jan. 17, taking out other positions to protect itself from fluctuations in the electric automaker's stock, the Financial Times reports.

The backdrop: Tesla CEO Elon Musk settled fraud charges last year — coughing up $10 million to the SEC and losing his position as Tesla's chairman for at least 2 years — over his tweeted claim that he had secured funding to take the company private, which occurred just after news broke that Saudi Arabia had acquired its stake.

Go deeper: Elon Musk says he decides when to submit his tweets for Tesla's approval

Two new articles highlight the challenge of ethically sourcing cobalt from the Democratic Republic of the Congo.

Why it matters: Cobalt is a key material for batteries for EVs and other uses, and the DRC provides over half the world's supply.

The Energy Information Administration's latest set of long-term projections is kind of a sad trombone when it comes to the growth of electric vehicles in the U.S.

Where it stands: The "reference case" in the EIA's Annual Energy Outlook 2019 projects that EVs will grow but internal combustion engines will remain "dominant" through at least mid-century.

China's largest ride-hailing startup Didi Chuxing announced Monday that it will form a joint venture with automotive giant BAIC to deepen its focus on electric vehicles, TechCrunch and others report.

Why it matters: China is the world's largest auto market and already has the largest number of EVs, too.

Democrats who want to tackle climate change are about to face the biggest challenge with sweeping policies: They're much more likely to pass if they get support from both sides of the political aisle.

Why it matters: No matter how far-fetched it seems after the government shutdown, the fact remains that policy endures better with bipartisan support, political scientists and past precedent suggest. This is particularly relevant in trying to solve a problem as enormous as climate change and with progressive Democrats rallying around a Green New Deal that calls for massive economic transformation.

If you're 25 or younger and live within a large swath of the Midwest — from Minneapolis to Chicago — this week will feature the coldest temperatures of your life as a lobe of the polar vortex plunges south out of the Arctic.

Why it matters: The frigid outbreak, which has already begun in parts of Minnesota and Wisconsin, will be life-threatening and disruptive for tens of millions of people this week. Wind chills on Wednesday morning in parts of Illinois, Wisconsin and Minnesota are likely to approach the minus 50s°F to minus 60s°F. Such conditions can cause frostbite in just minutes and will likely force the cancellation of schools across the region.