Category: electric semi

Denmark announces alliance on green fuels in India

January 8, 2024 / WIL BALDWIN

Chennai, India, January 8, 2024 – Denmark has announced its Green Fuels Alliance India (GFAI) initiative in a bid to boost collaborative efforts between the two countries in the sustainable energy solutions sector and advance their joint global goal towards carbon neutrality.

Led by the Danish Embassy and the Consulate General of Denmark in India, the new alliance is a strategic initiative poised to play a pivotal role in advancing the Green Fuels sector, including Green Hydrogen, by fostering innovation, collaboration, and partnerships between Danish industries and their counterparts in India.

GFAI’s primary objective is to promote sustainable energy growth in India by establishing an ecosystem that encourages collaboration among businesses, government entities, research institutions, and financial stakeholders from both the Indian and Danish sectors.

Nine pioneering Danish organisations have already committed to the GFAI initiative as founding members including Maersk, Topsoe, Umwelt Energy, Mash Makes, European Sustainable Solutions, Novozymes, Danfoss, Brdr. Christensen and Hydrogen Denmark. Meanwhile, the GFAI advisory board members include India Hydrogen Alliance, Energy Consortium at the Indian Institute of Technology Madras, the Danish Energy Agency and State of Green.

DHL supply chain deploys first class 8 electric trucks in North America

December 13, 2023 / WIL BALDWIN

DHL Supply Chain (Xetra: DHLn), the Americas leader in contract logistics, announced the deployment of its first Class 8 electric trucks, marking a significant milestone in the company’s commitment to clean and efficient trucking operations. The company currently has two trucks in operation in California and in the coming weeks will take delivery of an additional 11 units to be deployed across Ohio, North Carolina, Pennsylvania, and California.

The deployment represents a significant step forward in the company’s commitment to decarbonizing the transportation sector, one of the largest global contributors to greenhouse gas emissions.

The cutting-edge electric truck boasts impressive capabilities, including:

Zero tailpipe emissions: Electric vehicles (EVs) are considered zero-emission technology (ZET), which means they do not produce any tailpipe carbon dioxide (CO2e) or nitrogen oxide emissions. Each EV that replaces a diesel truck saves, on average, 100 tons of CO2e annually.
Energy conservation: A six month DHL Supply Chain-led pilot of a class 8 EV truck revealed that the truck consumed on average 50% less energy for the same job compared to its diesel counterpart.
Extended range: The EV trucks get up to 250 miles on a single charge, covering the needs of many regional haul routes.
Right-sized charging: Equipped with fast-charging technology and remote monitoring capabilities, the EV trucks enable turnaround times that are aligned with the operational requirements.
Powerful performance: The EV trucks deliver superior horsepower and torque to their diesel counterparts, ensuring seamless integration into existing operations.
Improved driver satisfaction: During the pilot drivers shared a preference for EV over diesel due to its ‘quietness’ and low to no vibrations, leading to less fatigue.

Forward-Looking Statements

This press release may contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

Rolls-Royce extends sponsorship of Technology Lab in Friedrichshafen

December 6, 2023 / WIL BALDWIN

Friedrichshafen, Germany, December 6, 2023 – Rolls-Royce Holdings PLC (London: RR) is to prolong its sponsorship of the Friedrichshafen Wissenswerkstatt e.V. (technology lab) and has committed to continuing funding for another five years. That means that the Wissenswerkstatt Friedrichshafen will benefit from a total of 250,000 euros up to 2028. It offers technology courses for children and teenagers from the age of five to eighteen at two locations in Friedrichshafen.

The courses given in the Wissenswerkstatt are not just designed to impart knowledge, but to highlight the enjoyable side of technology. In a relaxed atmosphere, the participants, working in groups of up to 14 or individually, engage in practical projects such as ‘Voltage from Veg – the Potato Battery’, or ‘The Internal Combustion Engine’s, or ‘Robotics – When Machines Do What I Say’.

One contribution Rolls-Royce Power Systems already made to the Wissenswerkstatt is an mtu Series 1600 engine on which participants learn about how an internal combustion engine is structured and works.

The general members’ meeting of the Wissenswerkstatt voted for Martin Stocker, head of training at Rolls-Royce Power Systems, to take up a seat on the board of the organization, which he will be retaining voluntarily in the future.

Forward-Looking Statements

Tesla Reports Q2 Profit, Announces Texas Gigafactory

July 26, 2020 / WIL BALDWIN

Tesla (TSLA) posted a surprise second-quarter profit last week on cost cutting and strong deliveries, offsetting the effects of its Covid-19 related factory shutdowns. The report may help the electric vehicle manufacturer gain inclusion into the S&P 500 index (^SPX).

Tesla announced earned net income of $104 million for the quarter, or $0.50 per share. This marks the first time the company has posted four straight quarterly profit, a benchmark for the company to be considered for inclusion in the highly coveted S&P 500.

This marks another major win for Chief Executive Elon Musk, whose quest to lead the global auto industry with Tesla, and the aerospace industry with SpaceX, has increasingly been making major leaps forward.

Musk said last Wednesday that the city of Austin, located in Travis County, would be the site of Tesla’s newest factory. The victory for Texas comes at a loss for Oklahoma, which also was seeking to have the factory land in Tulsa. The facility seeks to create as many as 5,000 new jobs. The County offered up to $65 million in tax rebates to entice the company, and plans to begin construction in the third quarter.

The additional plant is slated to produce Model 3 and Model Y vehicles for the Eastern half of the United States, as well as a potential new Tesla Semi truck and its Cybertruck pickup. Elon Musk has stated that his cars are not affordable enough yet for the average consumer, and he hopes to develop a plan to address that issue.

The company also needs to address its growing need for affordable battery cell production, and is looking to expand its partnerships with Panasonic Corp <PCRFY> and Contemporary Amperex Technology of China (CATL) <300750.SZ>.

FedEx Expands Fleet To Add 1,000 Chanje Electric Vans

November 20, 2018 / WIL BALDWIN

(Reuters) – FedEx Corp said on Tuesday it plans to add 1,000 Chanje electric delivery vans to its fleet of vehicles in a bid to save on fuel and cut down on pollution.

The package delivery company will buy 100 Chanje V8100 vans from the Los-Angeles based startup and lease the remaining from U.S. truck rental company Ryder System Inc.

United Parcel Service Inc, FedEx and Deutsche Post AG unit DHL have faced pressure from regulators around the world to lessen the environmental impact of their fleets.

UPS, FedEx and DHL have placed orders for Tesla Inc’s all-electric Semis and already use Workhorse Group Inc’s electric vans.

The Chanje electric vans will have a range of more than 150 miles when fully charged, with maximum cargo capacity of about 6,000 pounds.

Last year, Ryder said it would order electric delivery vans from Chanje and become the exclusive U.S. sales and lease partner for the company.

The Chanje V8100 vans are manufactured by FDG Electric Vehicles Ltd, the startup’s main investor, in Hangzhou, China.

The vans would be used for FedEx’s commercial and residential pick-up and delivery services in California.

(Reporting by Arunima Banerjee in Bengaluru; Editing by Shounak Dasgupta)

Image from www.chanje.com

Chinese EV Maker NIO Stock Rises On U.S. debut

September 12, 2018 / WIL BALDWIN

(Reuters) – Shares of Chinese electric carmaker NIO Inc (NIO.N) recovered sharply from a 15 percent fall in their market debut on Wednesday, a day after the company’s IPO was priced at the lower end of the expected range.

NIO shares rose as much as 11 percent to $6.93 in afternoon trading, giving it a market capitalization of $7.11 billion.

The rebound in shares was a welcome relief for NIO, whose offering came under pressure as investors have turned wary about electric carmakers due to struggles at its chief rival Tesla Inc (TSLA.O).

Investors have worried about Tesla’s cash-burn rate as the company struggles to meet its production targets amid its efforts to become a mass-market automaker.

NIO began deliveries of its ES8 SUVs in June and in August sold 1,121 units. The company plans to launch a second, lower-priced electric sport-utility vehicle, the ES6, by the end of this year.

NIO, founded by Chinese entrepreneur William Li in 2014, incurred a net loss of $502.6 million in the first six months of 2018 on $6.95 million in revenue. It has $677 million in cash and cash equivalents as of June 30.

The listing – the third-biggest in the United States by a Chinese firm this year – comes as Chinese EV makers seek fresh capital to develop new products and finance investments in areas including autonomous driving and battery technologies.

NIO, formerly known as NextEV and backed by Chinese tech heavyweight Tencent Holdings Ltd <0700.HK>, is one of several largely Chinese-funded EV startups betting on the benefits of local production to compete with firms such as Tesla.

Having begun promoting EVs in 2009, China aims to become a dominant global producer as it bids to curb vehicle emissions, boost energy security and promote high-tech industries.

Several EV makers such as WM Motor Technology Co and Xpeng Motor have also raised funds from heavyweight investors including tech giants Alibaba Group Holding Ltd (BABA.N), Baidu Inc (BIDU.O) and Tencent.

Goldman Sachs, JPMorgan and Morgan Stanley led the IPO. Bank of America Merrill Lynch, Credit Suisse, Citigroup, Deutsche Bank and UBS were also part of the process.

(Reporting by Diptendu Lahiri in Bengaluru; Editing by Sriraj Kalluvila and Anil D’Silva)

FedEx Reserves 20 Tesla Semi Electric Trucks

March 26, 2018 / WIL BALDWIN

FedEx Corp. (FDX) today announced it has placed a reservation for 20 Tesla Semi trucks. The fully-electric trucks, which are scheduled to begin production in 2019, will be operated by FedEx Freight, its less-than-truckload unit.

“FedEx has a long history of innovation and incorporating sustainability efforts throughout its global network,” said FedEx Freight president and CEO Mike Ducker. “Our investment in these trucks is part of our commitment to improving road safety while also reducing our environmental impact.”

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Tesla Reserves Tesla Semi-Trucks