Alternative vehicles have become the new biotechs, often racing into the public markets with little to no revenue.
Driving the news: Hyzon Motors, a hydrogen fuel cell truck and bus startup, is going public via SPAC at a $2.7 billion valuation. Its technology is commercialized, unlike Nikola, but says it plans to have only 5,000 vehicles delivered by the end of 2023.
India is projected to see the biggest increase in energy demand of any country over the next 20 years, a new International Energy Agency report finds.
Why it matters: It's already the third-largest energy-consuming nation, even as per-capita energy use, car ownership and other metrics are far below the global average.
The huge multinational oil-and-gas company Total on Tuesday unveiled new information about its diversification efforts — and the company's changing its name too.
Driving the news: Total said over 20% of its expected $12.1 billion in net spending in 2021 will be devoted to renewables and other electricity-related investments.
Electric vehicle owners in California drive them less than half as many miles annually as the average gasoline-powered car in the U.S., a new analysis shows.
Why it matters: The finding "raises important questions about the potential for the technology to replace a vast majority of trips currently using gasoline," the working paper concludes.
Elon Musk is funding a $100 million innovation contest to identify effective and economical ways to remove and store carbon dioxide.
Why it matters: An innovation contest with a nine figure award could help encourage the development of new ways to approach what scientists increasingly agree is one of the most vital ways to address climate change.
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