Microsoft has brought on the government affairs firm Lot Sixteen to lobby on sustainability and climate change, a newly public filing shows.
Why it matters: While Microsoft has lots of in-house and outside lobbyists working on all sorts of things, it's the first time an outside firm will be lobbying only on climate and environmental topics, Microsoft confirmed.
Tesla is soaring past General Motors in market capitalization — even as electric vehicles remain still a tiny slice of vehicle sales and FM's overall sales far outstrip Tesla's.
Why it matters: Tesla's enormous market value helps to show how investors see vehicles with a plug as the future, even though internal combustion vehicles will dominate for a long time to come.
President-elect Biden's win could juice electric vehicle sales in the U.S. by a lot, per an analysis from the Center for Strategic and International Studies.
The big picture: Biden, who talks a lot about electric vehicles, is expected to try to scuttle Trump administration regulations that weakened the Obama-era auto mileage and emissions rule. And go even further.
General Motors announced Thursday that it is increasing its investment in electric vehicles and autonomous tech to $27 billion through 2025 — $7 billion more than prior plans — as it seeks a top global position.
Why it matters: It's the clearest sign yet that GM is hoping to challenge Tesla, which dominates U.S. electric vehicle sales. It was already on, but now the competition for the electric vehicle market of the future is really on.