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Tag: climate

  • Lucid is cutting 1,300 employees amid signs of declining demand for its electric cars

    Lucid said in a regulatory filing that it is cutting about 18% of its workforce, or about 1,300 employees. In a letter to employees, CEO Peter Rawlinson said the job cuts “will affect almost every organization and every level, including executives.” The company expects to incur $24 million to $30 million in costs associated with […]

  • Luminar’s CFO defends the lidar maker’s pricing and earnings

    A Mercedes-Benz van retrofitted with different types of lidar systems, including Luminar’s Iris, to show the differences in the technologies. Michael Wayland/CNBC Lidar maker Luminar Technologies, stung by a recent Wall Street downgrade, is responding in an unusual way: going straight to shareholders. In a letter seen by CNBC Friday morning, Luminar CFO Tom Fennimore […]

  • A ‘greenwashing’ action in Europe has not gone down well

    The European Commission, the executive arm of the EU, recently published its so-called “Green Claims Directive”. The long-awaited proposal aims to establish an EU-wide methodology that will help clean up the environmental claims market. Campaigners have generally responded positively to the push to halt the burgeoning corporate greenwashing trend. But they say months of lobbying […]

  • Ford’s plan for EV profitability in 2026

    Ford forecast a drastic turnaround for its electric vehicle unit on Thursday, reiterating that it expects its EV business to be solidly profitable by the end of 2026. Here’s a step-by-step look at how Ford expects the Model e to achieve a positive EBIT profit margin of 8% in less than four years. Wall Street […]

  • Ford’s EV business lost $2 billion by 2022, offset by fleet and legacy

    The badge of an electric vehicle from Ford Motor Co. E-Transit at a presentation in Washington, DC, USA, on Wednesday, July 28, 2021. Al Drago | Bloomberg | Getty Images Ford Motor said Thursday that its electric vehicle business lost $2.1 billion on an operating basis last year, a loss more than offset by $10 […]

  • In Liverpool, plans for a ‘mega project’ for tidal energy are taking shape

    The River Mersey and the City of Liverpool. Ingus Kruklitis / Eyeem | Eye | Getty Images The iconic River Mersey could soon play a major role in the UK’s sustainable future. Authorities in Liverpool want the river to be home to a massive tidal energy project that they say could power as many as […]

  • Yellen warns that climate change is causing huge financial losses in the US

    Treasury Secretary Janet Yellen warned on Tuesday that climate change could cause asset value losses throughout the country’s financial system in coming years. Yellen made the remarks during the first meeting with the Advisory Committee on Climate-Related Financial Risks. “A delayed and disorderly transition to a net-zero economy can also lead to shocks in the […]

  • At Tesla’s Investor Day, 17 executives attended, knocking Musk out of the spotlight

    Tesla’s investor day this week helped draw shareholders’ attention to the broader organization under Tesla’s famed CEO. However, the presentation could have used more focus and polish, said Marisa Thomas, founder of Pivotal Media, who has spent more than a decade training executives in technology, finance and elected officials to hone their presentation skills. Elon […]

  • GOP opposition has ties to Trump allies, wealthy donors

    At least half a dozen conservative groups target Wall Street asset managers, such as BlackRock, Vanguard and State Street, for their environmental, social and governance investment platforms. Some of the organizations sponsor, or attend events held by, an organization of state finance officers that has members who have moved assets formerly controlled by BlackRock. Cleta […]

  • Lithium battery recycler Li-Cycle receives $375 million loan from DoE

    Li-Cycle, on the New York Stock Exchange, August 11, 2021. Source: NYSE Battery recycling company Li-Cycle said Monday it has received a $375 million conditional loan from the Department of Energy to develop a recycling facility for key battery materials near Rochester, New York. For lithium-ion batteries in particular, the focus was largely on mining. […]