The comments are a stark prediction in an industry that frequently downplays the impact of electrification and points to forecasts of rising global oil demand to justify new investment and pipeline expansions.
Canada is the world’s fourth-largest oil producer and the sector accounts for 10.6% of the country’s gross domestic product.
“While Canadian oil and gas will remain a significant part of the global energy mix for some time, we have to take advantage of new opportunities that offer attractive growth prospects,” Suncor CEO Mark Little said in an opinion article for Canada’s Corporate Knights magazine.
Northvolt and Hydro today announced the formation of a joint venture, Hydro Volt, to enable recycling of battery materials and aluminum from the Norwegian market for electric vehicles. Hydro Volt will establish a recycling hub in Norway which will start operations in 2021.
The launch of the joint venture follows an investment in Northvolt by Hydro in 2019 and further strengthens the partnership between the battery manufacturer and the aluminum company, which is based around advancing circular industry technologies and material flows.
Hydro Volt will start operations in Fredrikstad, Norway, with a feed of batteries coming from the Norwegian EV market, which is one of the most advanced in the world.
Chinese electric vehicle (EV) maker BYD Co Ltd will supply EV batteries to U.S. automaker Ford Motor Co, a document on the website of the Ministry of Industry and Information Technology showed on Monday.
Ford’s China venture with Changan Automobile is seeking government approval to build a plug-in hybrid model equipped with BYD’s batteries, according to the document.
According to the quarterly update released on Thursday by the California New Car Dealers Association, the Model 3 outsold the Honda Civic and Toyota Corolla in the state from the start of the year through March.
The Honda Civic is a longtime top-seller in California, as is the Corolla—and the Corolla is cumulatively the best-selling nameplate in the world.
At a total of 18,856 registrations for the quarter, according to the report, the Model 3 now also outsells the Toyota Camry and Honda Accord, in a sales tally that includes the separate Camry Hybrid and Accord Hybrid versions of each of those models.
Works will start next year. With a total capacity of 32 gigawatt-hour, the factory will consist of four equal modules of 8 gigawatt-hour. The first section is planned to be ready in 2024 and will most likely use existing battery technology, while the others will be developing “the next generation battery cell technology”.
The county of Agder will also give Morrow access to renewable hydropower, while the projected factory is expected to need 2,500 highly skilled workers.
Morrow’s lithium sulfur batteries will use deposed materials from the Norwegian oil industry. The production will then differentiate from today’s usual chain, which requires rare minerals and 97% of which takes place on coal fueled plants in China, Japan and South Korea.
Alfa Romeo is preparing its first electric vehicle for 2022 as the smallest in a trio of SUVs intended to bring the Italian premium brand back from the brink.
The electric compact SUV, similar in size to an Audi Q2, will be crucial in reviving the firm’s dwindling sales in a fast-evolving market where emissions legislation is becoming increasingly tough.
The parent company of Alfa Romeo, Fiat Chrysler Automobiles, has been on the back foot with electrification, which is why its ongoing merger with the EV-savvy PSA Group should reap substantial benefits.
Uber has sent thousands of electric bikes to be recycled for scrap as part of handing operations of their Jump e-bike division to scooter-sharing company Lime. The rideshare giant said it would be too difficult to donate these bikes because of safety and liability concerns. A spokesman told CNBC “the best approach was to responsibly recycle them,” while video posted on Twitter from a North Carolina recycling center shows the candy red bikes being crushed as scrap metal.
“There’s pent-up demand for electric vehicles,” said Sam Jaffe, managing director of Cairn Energy Research Advisors. “We will see a combination of factors make 2021 an inflection point for the sale of electric vehicles.”
The Prime uses the same 2.5-liter four-cylinder gas engine as the regular Hybrid, augmented by an electric motor at each axle. An uprated lithium-ion battery provides the juice. Combined, the system sends 302 hp to all four wheels. Toyota is quoting a 0–60 mph time—remember those?— of just 5.7 seconds. That makes the Prime the fastest four-door Toyota out there, and second overall, behind only the Supra. That’s what we call progress.