Rental car company Hertz has ordered 100,000 Teslas as part of an ambitious plan to electrify its fleet. A first tranche of Tesla’s Model 3 sedans will be available to rent from Hertz in major US and European markets from early November, said the company in a press statement. The announcement comes just months after Hertz escaped bankruptcy.
After the purchase was announced, Tesla’s stock price reached as high as $998.74 early in the day, increasing its market cap to over $1 trillion before the price dropped again. However, by the time the market closed for the day, its price had risen again, finishing at $1,024.86 per share for a market cap of $1.01 trillion. As CNBC notes, that put it in the rare company of other trillion-dollar market cap companies like Apple, Amazon, and Microsoft.
News of the purchase was first reported by Bloomberg, which says the deal is the single largest order ever for electric vehicles, and worth $4.2 billion in revenue to Tesla. The automaker’s stock was up 4.3 percent on the news in pre-market trading. It was also reported this morning that Tesla’s Model 3 became the first electric vehicle to top monthly sales charts in Europe this September. Earlier this month, the company reported record sales in its third quarter, despite chip shortages denting the automotive market.
Kentucky transportation officials are asking the public to weigh in on the state’s transportation needs to help set priorities for the next 25 years.
The survey will help the state update its Long-Range Statewide Transportation Plan—a federally required document that lays out the state’s current conditions and goals for the coming decades.
The last plan was finalized in 2007, and officials are hoping to finish the next one by the end of next year.
In a statement, Kentucky Transportation Cabinet Secretary Jim Gray said the transportation system needs to reflect the needs and desires of the people who use it.
“My hope is that everyone will take this opportunity to tell us what’s most important to them as they travel across town and across our state, both now and in the future,” Gray said.
Gray said the cabinet is taking input on all forms of travel, including car, rail, bike and plane.
BMW announced that it has started series production of the BMW i4 electric car today at its Munich factory.
Milan Nedeljković, BMW AG board member for production, said that the start of i4 production marks the beginning of BMW’s important Munich plant going electric:
For the plant and team, the launch of the BMW i4 is a milestone on the road to electric mobility. By 2023 more than half of all vehicles from our Munich facility will have an electrified drive. The majority will be fully electric. So Munich goes fully electric.
Peter Weber, Director of BMW Group Plant Munich, added:
We succeeded in integrating the new vehicle into our existing systems without halting production. The team and our partners did an amazing job. Our bodyshop is a shining example of intelligent, efficient integration. Most of the new production processes for the BMW i4 can be carried out on the existing bodyshop systems.
LEXINGTON, Ky. (WKYT) – Many people call it a game changer: the news last month that Ford planned to spend billions of dollars on electric battery plants near Elizabethtown.
It’s another strong sign auto makers are moving toward electric vehicles.
For owners of electric cars in Kentucky, the news is exciting, and offers hope, that more charging stations are coming, to support their no gas transportation.
Mike Proctor, of Richmond, has owned electric vehicles for the last nine years.
”On a cold winter day, when I see everybody out there standing out there pumping gas, and I drive right past them knowing that my nice warm garage is my place where I’m going to refuel, I’m a happy camper,” Proctor said.
Procter recharges his electric car in his garage overnight. It cost him less than a $1,000 to have a Level 2 charger installed.
”Level 2 is the same voltage as your range or your dryer work on,” Proctor said. “So, the voltage is available in most households.”
Proctor is a member of EvolveKY, a group of about 200 electric car enthusiasts. EvolveKY has 36, free charging stations around the state.
Bumper corn harvests and more Americans filling up gasoline tanks pushed U.S. ethanol production to the highest since pandemic lockdowns brought the industry to a near standstill.
U.S. output of the corn-based biofuel last week surpassed analyst expectations and swelled to the most since June 2019. Gasoline demand on a four-week rolling average hit the highest since 2007 for this time of year.
The revival of biofuel production comes a day after spot ethanol soared close to a seven-year high amid surging crude oil prices. At the same time, corn is both plentiful and relatively cheap, setting the stage for fatter producer margins and a potential boost in overseas demand for U.S. supplies.
The Illinois Soybean Association’s District 10 Director and board Secretary Elliott Uphoff is in the thick of the harvest season and is proving that biodiesel can fuel your bottom line all year long.
Uphoff fuels up with B20, a blend of 20 percent biodiesel, in his semi-trucks and B11 in his farming equipment to get through the early morning and late harvest nights. He has used B11 in his trucks for nearly four years and year-round for two. In the last year he made the switch to B20 and has continued to have consistent fuel mileage with no issues.
“Biodiesel and the farming operation go hand in hand. It’s something we help produce and that we need to fuel our operation,” Uphoff says. “I never think twice about using biodiesel. It’s safe and proven on our farm. Farmers should be champions of a product they help produce.”
ENGLEWOOD, Colo., Oct. 12, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) and Axens North America, Inc. (Axens) have entered into an agreement that establishes a strategic alliance aimed at accelerating the commercialization of sustainable ethanol-to-jet (ETJ) projects in the United States. As part of the alliance, Axens brings technologies with over 60 related patents; engineering packages; proprietary catalysts; and certain proprietary equipment required to convert ethanol into jet fuel. Axens would also provide process guarantees for commercial ETJ projects. Gevo expects to develop, own, and operate ETJ plants to produce sustainable aviation fuel (SAF), utilizing its expertise in renewable alcohol production and technologies; Net-Zero business model; project financing expertise; customer relationships, and contracts.
MILWAUKEE, Oct. 12, 2021 /PRNewswire/ — Briggs & Stratton is pleased to announce the Vanguard® 400 single-cylinder engine, which has been converted to run on propane, has been certified by the Environmental Protection Agency (EPA) as compliant with the Clean Air Act emission standards. This is the first and only engine in its size class with a manufacturer’s warranty, to be converted to propane fuel and receive EPA certification, with California Air Resources Board (CARB) certification on the horizon in 2022.
When converted to propane, a less carbon-dense fuel source, the Vanguard 400 engine with a catalyst muffler provides a significant reduction in carbon emissions. Propane conversion kits allow customers to take advantage of the benefits of propane with their current Vanguard-powered commercial equipment. Available through Propane Power Systems, the kits were developed specifically for Vanguard, and have a 3-year limited commercial warranty*.
Dane County, Wisconsin, is proposing to invest $10 million in clean fuel infrastructure that will help expand the use of renewable natural gas (GHG) and compressed natural gas (CNG) vehicles in the county fleet.
Dane County Executive Joe Parisi included the investment in his 2022 budget proposal. “The flooding, fires, and extreme temperatures gripping the globe year after year offer irrefutable, tangible evidence we are in the midst of a climate crisis. We all have a responsibility to act now, and that’s just what Dane County government is doing,” Parisi said. “By investing in clean fuel infrastructure and becoming net zero in carbon emissions for our buildings and fleet by 2030, Dane County will be a leading voice of what is possible for the public and private sectors to help combat the disturbing trends of climate change.”
Excitement is running high because of Ford’s historic investment in Kentucky and for good reason.
Our relationship with Ford began in 1913 with Assembly operations in two small shops in Louisville that produced 12 Model T bodies a day. By 1916, production reached approximately 20 vehicles per day assembled and didn’t stop there. In three short years, Ford nearly doubled their output, paving the way for our vehicles and our economy to be powered by gasoline motors.
For nearly 100 years Kentucky has built, improved and maintained our transportation systems by taxing the fuel used by these vehicles. And now in 2021, at the new Glendale megasite, Kentucky and its partners will shift from the traditional automobile to the electric vehicle of the future.