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The White House on Thursday is unveiling draft mandates and aspirational targets aimed at drastically cutting vehicle carbon emissions and accelerating the shift to electric models.
Why it matters: Transportation is the largest source of U.S. emissions.
A new high-performance electric scooter is being billed as the transportation solution for urban residents who want an EV but don't have dedicated parking and can't exactly hang a charging cable out their apartment window.
What's happening: The $7,495 Zapp i300 is positioned as a daily commuter vehicle for urban dwellers — offering the convenience of a scooter and the performance of a motorcycle. Debuting this month in Paris, it's headed to Asia and the United States next year.
Logistics provider DHL Express is adding electric cargo planes to its fleet, becoming the first customer for Eviation, a Seattle-based electric aviation company.
Why it matters: As delivery on demand explodes, shipping and logistics providers like DHL are under pressure to make every mode of their operations more sustainable — aircraft, trucks, last-mile delivery vans, and even their buildings.
Revel is launching a new ride-hailing service in New York City today that sets itself apart from Uber and Lyft: every car is a Tesla, and all the drivers are employees.
Why it matters: Revel's business model will test whether EVs are up to the challenge of nonstop service and whether gig workers are the only way a ride-hailing service can expect to make money.
Driving the news: Revel will begin with 50 custom-painted Tesla Model Ys available for pickups and dropoffs below 42nd Street in Manhattan.
Between the lines: Revel, which already rents thousands of electric mopeds and e-bikes in New York, sees itself as part of a movement to electrify transportation. But the lack of charging infrastructure in big cities is a hindrance, says CEO and co-founder Frank Reig.
What to watch: Reig says Revel can be profitable because EVs have lower operating costs and because it is focused on dense urban areas where utilization is high and ride-sharing prices are "rational."
White House national climate adviser Gina McCarthy and Energy Secretary Jennifer Granholm celebrated progress on President Biden's infrastructure package by taking a spin in a Kenworth fuel-cell, zero-emissions Class A truck.
What they're saying: "We have a deal, a Bipartisan Infrastructure Framework deal," Granholm said. McCarthy responded: "it's big and it's beautiful."
Trevor Milton, the founder of electric truck startup Nikola, was charged Thursday on three counts of fraud stemming from federal prosecutors' investigation of allegedly inaccurate or misleading statements the company made to investors.
Driving the news: The Securities and Exchange Commission — which filed a complaint alongside a grand jury indictment from federal prosecutors in Manhattan — accused Milton of engaging in a "fraudulent scheme to deceive retail investors about Nikola’s products, technical advancements, and commercial prospects for his own personal benefit."
The pressure is on for Lucid Motors. Shares of the electric vehicle company closed up more than 10.6% on its first day of trading on Monday.
Why it matters: Lucid has yet to deliver any cars. The company went public by merging with a SPAC, Churchill Capital Corp. IV, in part to get enough cash to start production.
America is moving toward an electric vehicle future, but the present infrastructure can be maddening for those who own an EV. Particularly if that EV isn't made by Tesla.
Why it matters: President Biden's infrastructure proposal includes billions of dollars for EV charging, in an effort to replicate the ubiquity of gas stations.
Tesla is expected to report an eighth consecutive quarterly profit after markets close today, but still faces big questions despite showing it's now consistently in the black.
Why it matters: The company dominates U.S. electric car sales and is a leading player globally too, so its fortunes are both a business story and a climate story.
The huge automaker Stellantis — whose brands include Dodge, Peugeot, Jeep, Citroën, Opel and more — is pouring over $35 billion into vehicle electrification efforts through 2025, it announced Thursday.
Why it matters: The company, formed via the recent merger of Fiat Chrysler Automobiles (FCA) and PSA Group, is the world's fourth-largest automaker.