Good morning! LA readers — Join Axios' Ina Fried, the Chan Zuckerberg Initiative's David Plouffe, and a lineup of local leaders Thursday for a conversation on California's housing crisis. They'll be discussing the crisis' economic impact and potential affordable housing solutions. RSVP here.
Onto music. At this moment in 1976, Stevie Wonder was atop the Billboard album charts with "Songs in the Key of Life," so one of those tracks brings us into the news...
Two companies today are disclosing a multimillion dollar investment in the solid-state battery startup Solid Power: chemical company Albemarle (a major lithium supplier) and Korean auto supply company Hanon Systems.
What they're doing: Albemarle and Hanon are investing through Volta Energy Technologies, a relatively new venture that has an agreement with Argonne National Laboratory to help develop and validate promising energy storage technologies.
The big picture: This is another sign of the intensifying race to develop solid-state batteries for use in electric vehicles.
Why it matters: The announcement signals interest in Colorado-based Solid Power essentially across the EV supply chain.
The intrigue: A123, Hyundai, Samsung and Volta are also among the backers of a the Massachusetts-based solid state battery startup Ionic Materials, which is using a separate, polymer-based tech.
“They are probably hedging their bets. Although both companies are developing solid state batteries, they are using fundamentally different materials...”
“There is no consensus as to which material will eventually be commercialized first or at the largest scale.”— Christopher Robinson, senior analyst, Lux Research, tells Axios
What's next: Robinson estimates that solid-state batteries are roughly a decade away from commercial deployment in EVs, but notes "in the battery industry and in the automotive industry, 10 years isn’t really that much time."
What's next: Axios' Steve LeVine chatted with several experts about the future of Saudi Crown Prince Mohammad bin Salman, or MBS.
Energy deals: Bloomberg reports that the Saudis are announcing a suite of energy and metals deals at the big Future Investment Initiative conference in Riyadh as they try and keep focus on the event.
Oil execs in Riyadh: Patrick Pouyanné , CEO of the French global oil-and-gas giant Total, released a statement about why he's not joining the long list of execs bailing on the Saudi's big investment conference that began today.
Royal Dutch Shell's U.S. arm reported $3.1 million in third-quarter lobbying, a $1.1 million increase over the prior 3 months.
The big picture: It's the oil giant's largest quarterly total since the end of 2012, according to Lobbying Disclosure Act records, but the company did not say what prompted the increase.
Why it matters: The industry's quarterly filings provide a window onto the scope of industry efforts to influence policy.
Breaking Tuesday: Dyson has selected Singapore as the location for a factory to build EVs, 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.
Singapore appears to make sense for Dyson for other reasons, as it already has facilities there for building motors.
Axios' Andrew Freedman reports ... In recent interviews, President Trump falsely claimed that scientists disagree about the causes of global warming. In fact, at least 97% of climate scientists agree that human activities are the dominant cause of global warming since the mid-20th century.
The big picture: Trump is not the only one who thinks that the main causes of global warming are still being debated.
The details: In an interview with AP on Oct. 15, Trump commented on a recent climate science report from the UN Intergovernmental Panel on Climate Change.
Trump dismissed the findings, saying scientists disagree about the basic conclusion of what is driving global warming.
Reality check: Studies show that the period from 1901 to 2016 "is now the warmest in the history of modern civilization," and human emissions of greenhouse gases are to blame.
Yes, but: Like the president, the American public seems to have a poor understanding of just how wide and deep the scientific consensus is on what is causing climate change.
The bottom line: There is evidence showing that when people gain a better understanding of the consensus, they are more likely to support policies to rein in greenhouse gas emissions.
Go deeper: Read Andrew's full story in the Axios stream.
Big Oil: The Wall Street Journal reports that while giant oil companies — ExxonMobil, Shell, BP, Equinor, Total and Chevron — are likely to announce higher Q3 profits and excess cash on the strength of higher crude oil prices, investors don't seem impressed.
Coal and renewables: Utility Dive looks at an important evolution of Indiana's power market, one that encapsulates broader national trends. A utility in the state announced in a planning document that building new renewables generation is cheaper than keeping existing coal plants open.
Solar: Reuters looks at construction of a solar plant in an unusual location. They report that early this month Ukraine "unveiled a solar plant in Chernobyl ... just across from where a power station, now encased in a giant sarcophagus, caused the world’s worst nuclear disaster three decades ago."