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A wildfire burn trees on August 2, 2021 in Mugla, Marmaris district, as the European Union sent help to Turkey and volunteers joined firefighters in battling a week of violent blazes that have killed eight people.
YASIN AKGUL | AFP | Getty Images

The world’s leading climate scientists on Monday delivered their starkest warning yet about the deepening climate emergency, projecting climate changes to increase across all regions in the coming decades.

A highly anticipated report by the U.N.’s climate panel warns that limiting global warming to close to 1.5 degrees Celsius or even 2 degrees Celsius above pre-industrial levels “will be beyond reach” without immediate, rapid and large-scale reductions in greenhouse gas emissions.

To be sure, the 1.5 degrees Celsius threshold is a crucial global target because beyond this level, so-called tipping points become more likely. Tipping points refer to an irreversible change in the climate system, locking in further global heating.

At 2 degrees Celsius of global warming, the report says heat extremes would often reach critical tolerance thresholds for agriculture and health.

The Intergovernmental Panel on Climate Change’s latest findings, approved by 195 member states on Friday, deals with the physical science basis of climate change and outline how humans are altering the planet. It is the first installment of four reports released under the IPCC’s current assessment cycle, with subsequent reports scheduled to be published next year.

The first part of the IPCC’s Sixth Assessment Report, while relatively brief, provides world leaders with a gold standard summation of modern climate science ahead of U.N. climate talks, known as COP26, in early November.

“This report is a reality check,” said IPCC Working Group I Co-Chair Valérie Masson-Delmotte.

“We now have a much clearer picture of the past, present and future climate, which is essential for understanding where we are headed, what can be done, and how we can prepare.”

What does the report say?

Climate scientists warned that they are observing changes in the Earth’s climate in every region and across the whole climate system.

The report shows that emissions of greenhouse gases from human activities are responsible for roughly 1.1 degrees Celsius of warming since 1850-1900, and finds that averaged over the next 20 years, global temperature is expected to reach or exceed 1.5 degrees Celsius.

The U.N. climate panel says “strong and sustained” reductions of carbon emissions and other greenhouses gases would limit climate change. Benefits such as improved air quality would come quickly, while it could take 20 to 30 years to see global temperatures stabilize, it adds.

The IPCC report makes clear that it is not just about temperature. It says climate change is bringing different changes in different regions — and all will increase with further global heating.

These changes include more intense rainfall and associated flooding, more intense drought in many regions, coastal areas to see continued sea level rise throughout the 21st century, the amplification of permafrost thawing, ocean acidification, among many others.

A couple rides a pedal boat as smoke from nearby forest fires hangs over the city of Yakutsk, in the republic of Sakha, Siberia, on July 27, 2021.
DIMITAR DILKOFF | AFP | Getty Images

It follows a series of mind-bending extreme weather events worldwide. For instance, in just the last few weeks, floods have wreaked havoc in Europe, China and India, toxic smoke plumes have blanketed Siberia and wildfires have burned out of control in the U.S., Canada, Greece and Turkey.

Policymakers are under immense pressure to deliver on promises made as part of the Paris Agreement ahead of COP26. Yet, even as global leaders publicly acknowledge the necessity of transitioning to a low-carbon society, the world’s dependency on fossil fuels is expected to get even worse.

The IPCC’s Fifth Assessment Report, published in 2014, provided the key scientific input to the Paris Agreement.

Almost 200 countries ratified the Paris climate accord at COP21 in 2015, agreeing to limit the planet’s temperature increase to well below 2 degrees Celsius above pre-industrial levels and to pursue efforts to limit the temperature increase to 1.5°C.

It remains a key focus ahead of COP26, although some climate scientists now believe that hitting this latter target is already “virtually impossible.”

The IPCC has previously recognized that the necessary transition away from fossil fuels will be a huge undertaking that requires “rapid, far-reaching and unprecedented changes” across all aspects of society.

It has underscored the point that limiting global warming to 1.5 degrees Celsius “could go hand in hand with ensuring a more sustainable and equitable society,” with clear benefits to both humans and natural ecosystems.

However, a U.N. analysis published earlier year found that pledges made by countries around the world to curb greenhouse gas emissions were still “very far” from the profound measures required to avoid the most devastating impacts of climate breakdown.

What is the IPCC?

The IPCC is a U.N. body of 195 member states that assesses the science related to the climate crisis.

It was founded in 1988 by the United Nations Environment Programme and the World Meteorological Organization to provide world leaders with periodic updates about the scale of the climate emergency, its implications and risks and to put forward adaptation and mitigation strategies.

It is formed of three working groups. The first, Working Group I, deals with the physical science basis of climate change. This group presented its contribution to the IPCC’s Sixth Assessment Report on Monday.

Working Group II deals with impacts, adaptation and vulnerability and Working Group III assesses the mitigation of climate change. A separate task force assesses methodologies for measuring greenhouse gas emissions and removals.

Thousands of climate scientists volunteer their time to pore over the latest climate research to contribute to the work of the IPCC. The reports are drafted and reviewed at several stages and are of fundamental importance to international climate negotiations.

The Working Group II and Working Group III reports are scheduled to be finalized in February and March 2022, respectively. A concluding Synthesis Report is also due to be published next year.

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Is this the interior of Tesla’s upcoming ‘Robotaxi’?

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Is this the interior of Tesla's upcoming 'Robotaxi'?

Tesla has released a new video that includes some footage of a previously unseen vehicle interior. Could it be an early concept of the interior of the Robotaxi?

For the last few years, Tesla has been working on a vehicle designed from the ground up to be a self-driving vehicles. The company has been referring to it as ‘Robotaxi’.

CEO Elon Musk insists that Tesla is still dedicated to delivering its promised self-driving capability to existing vehicles delivered since 2016 through software update, but it also decided to build a new vehicle designed entirely around the fact that it will be driverless.

Not much is known about the vehicle other than hints that it won’t have a steering wheel or pedals, and that it will be “Cybertruck-like” in terms of design.

Now, Tesla has released a new video, which Musk wanted to make clear he wasn’t involved in, to try to encourage shareholders to vote for his $55 billion compensation package and moving the company’s state of incorporation to Texas:

In the video, many pointed out a shot of the interior of a vehicle that doesn’t match anything Tesla has released to date:

The image shows what appears to be a two-seater vehicle without steering wheel and a center display similar to what is found in current Tesla vehicles.

The seats are unlike what you would find in modern vehicles and something closer to what you would find in public transit, like a train:

Tesla plans to unveil its ‘Robotaxi’ on August 8th. The automaker has recently accelerated its timeline for the vehicle and plans to bring it to market as soon as next year.

Do you think this is an early concept for the Tesla Robotaxi interior? Let us know in the comment section below.

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Mercedes-Benz just opened more DC fast chargers at Buc-ee’s in Texas

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Mercedes-Benz just opened more DC fast chargers at Buc-ee’s in Texas

Mercedes-Benz High-Power Charging just opened more DC fast chargers at Buc-ee’s stores in the Dallas-Forth Worth area.

Three new Mercedes DC fast charging stations are at Buc-ee’s in Fort Worth, Temple, and Royse City. Mercedes asserts that every one of its chargers offers up to 400 kW of power.

It’s also adding 12 more charging stations at Buc-ee’s in the Dallas-Fort Worth, San Antonio, and Houston metro areas – also known as the Texas Triangle, home to 68% of Texans:

Buc-ee’s isn’t your typical convenience store – they’re huge, with some stores covering over 50,000 square feet, and they offer a wide variety of items, including snacks, beverages, fresh food, clothing, home decor, and Texas-themed merchandise. It’s known for its homemade fudge, jerky, and beaver nuggets (caramel-coated corn puffs). Most Buc-ee’s locations are open 24 hours a day, seven days a week.

In November 2023, Mercedes announced it had made an agreement with Buc-ee’s to build EV charging hubs at most of its existing stores. Mercedes is aiming to have around 30 online by the end of the year. There are currently 48 Buc-ee’s locations across the US South, 34 of which are in Texas.

When I spoke to Mercedes-Benz High Power Charging CEO Andrew Cornelia last year, he was passionate about the importance of placing EV chargers near amenities that travelers need.

Mercedes offers open access for all EV drivers, including roaming with other charging networks. Its charging hubs support contactless payments with credit cards or smartphone wallets.

The first Mercedes DC fast charging station came online last November at its headquarters in Sandy Springs, Georgia. Mercedes-Benz plans to deploy 2,500 high-powered chargers in 400 hubs by 2027.

Texas is the US’s No. 1 producer of clean energy and ranks fourth in public EV charging. However, to meet driver demand, the state needs around 95,000 more public chargers by 2027.

Read more: America, Mercedes-Benz wants you to indulge in retail therapy while you’re DC fast charging


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Polestar (PSNY) stock faces potential Nasdaq de-listing after failing to file its annual report

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Polestar (PSNY) stock faces potential Nasdaq de-listing after failing to file its annual report

Another EV stock may be removed from the Nasdaq exchange. After failing to file its annual report, Polestar (PSNY) received a notice from the Nasdaq as the company faces a possible de-listing.

Polestar, Volvo’s former high-performance unit, was established as an EV brand in 2017 under Geely’s control.

Since launching the Polestar 2, its first all-electric vehicle, the brand has expanded into 27 markets globally. The electric car has even become a top seller in several key markets like Norway, Sweden, and Germany.

However, like many EV startups, Polestar has hit its fair share of hurdles. After cutting guidance late last year (from 80K to 60K), Polestar still missed its target, delivering 54,600 vehicles last year.

In February, Volvo announced plans to sell 62.7% of its stake in Polestar as it looks toward its next growth stage. Volvo also confirmed it will “not provide further funding to Polestar” outside of its existing $1 billion outstanding convertible loan.

The news came after Polestar announced plans to cut 15% of its global workforce amid slowing EV sales earlier this year.

Polestar-de-listing
2024 Polestar 2 (Source: Polestar)

Polestar stock facing potential Nasdaq de-listing

After failing to file its annual report for the fiscal year ending December 31, 2023, Polestar received a deficiency notice from the Nasdaq.

The notice states Polestar is not in compliance with its listing rules, which require the timely filing of periodic financial reports.

Polestar-4-price
Polestar 4 (Source: Polestar)

Polestar said the notice has no immediate impact on the company’s listing. However, under the Nasdaq listing rules, Polestar has 60 days to submit an action plan. If Nasdaq accepts it, Polestar could be issued an additional 180 days from the notice date, or until November 2024, to regain compliance.

The company has already received consent from lenders under its nearly $1 billion 3-year loan facility for the late filing. Polestar says it is fully committed to regaining compliance.

Polestar is working to file the annual report “as soon as practicable” and to report Q1 2024 earnings shortly after.

Polestar-de-listing
Polestar (PSNY) stock chart over the past 12 months (Source: TradingView)

Polestar stock was down over 13% on Monday following the potential de-listing notice. PSNY shares are now down over 50% this year, hitting their lowest prices since going public.

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