Business

UK electric van startup Arrival to build North Carolina ‘microfactory’

British electric van and bus startup Arrival said on Wednesday that it will build a new plant in North Carolina and much of its production will go to fulfilling an order from package delivery company UPS for up to 10,000 vehicles. Arrival’s “microfactory” in Charlotte will be the startup’s second U.S. plant and is due […]

Business

Sheen comes off green in crowded climate investment space

The booming market in green finance faces a test this year as more investors balk at lofty share price tags even on loss-making companies and a gradual economic recovery from the pandemic boosts returns on conventional energy assets. Driven by government promises to deliver a low carbon recovery, flows into funds investing on environmental, social […]

Business

Volkswagen brand expects its 2021 electric car deliveries to double

Volkswagen expects to double electric vehicle deliveries and increase profits for its core brand this year after the world’s second-largest carmaker stepped up its switch to fully electric vehicles. The brand will deliver more than 450,000 electric cars this year, the company said on Wednesday. Volkswagen is targeting 1 million electric vehicle deliveries for the […]

Business

Steelmaker ArcelorMittal steps up carbon-neutral push

ArcelorMittal will offer green certificates to customers willing to pay a premium for low-carbon steel, it said on Wednesday as it also launched a fund to support breakthrough technologies to curb carbon emissions from steelmaking. Steelmaking accounts for about 7-9% of global carbon dioxide emissions, but the world’s largest steelmaker aims to eliminate its net […]

Business

AerCap-GECAS deal may hurt aircraft market competition

Aircraft leasing giant AerCap’s acquisition of rival GECAS will reduce competition in the aircraft market, the head of global airline industry body IATA warned on Wednesday. “We understand that the situation of the leasing companies is difficult,” IATA Director General Alexandre de Juniac told Reuters. “But combining the two to have a big player (in) […]

Business

U.S. crude, fuel stockpiles rise as refiners boost output

U.S. crude oil, gasoline and distillate stockpiles all rose last week, as refiners boosted output with more facilities coming back online following February’s devastating storms in Texas. Crude inventories rose by 2.4 million barrels in the week to March 12, the U.S. Energy Information Administration said, compared with analysts’ expectations for an increase of 3 […]