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Originally published by Union of Concerned Scientists, The Equation.
By Julie McNamara, senior energy analyst with the Climate & Energy program at the Union of Concerned Scientists

In April 2021, President Biden committed the United States to reducing its greenhouse gas emissions 50 to 52 percent below 2005 levels by 2030, in line with science-informed targets, in line with the collective hunt to keep global warming below 2 degrees C, in line with the fight, the fight, the global fight to beat back the worst of climate impacts we could see.

Ever since, the scramble has been on for our nation to advance the charge.

Because while President Biden’s commitment to robust climate action is critical to setting the forward course, words alone will not guarantee progress. Wish as we might, we will not whoopsie-pie our way into the Great Decarbonized Place.

We need actual action.

We need actual policy, actual progress, actual change, commensurate with the level of action these climate targets require. And they will require a lot, as new modeling makes clear:

Credit: Rhodium Group, Pathways to Paris (October 2021)

Precisely because the present emissions gap is so great, we cannot solely lean on the incredible progress enabled by leading states, localities, businesses, and individuals. To truly bend the curve, we need federal action, too.

And that is what makes the repeated and escalating broadsides to the climate integrity of the Build Back Better Act — foremost among them attacks on the Clean Electricity Performance Program (CEPP) — so infuriating.

Because no matter what words are spun, what justifications are launched, we will still need to make up the gap. So for every measure of weakening Congress allows, for every degree of ambition our lawmakers abandon, it will simply make the hard task harder, placing a heavier burden on all the other efforts we need to make.

The Build Back Better Act as a chance for change

There was never going to be one legislative package to resolve the path to 2030 and beyond — not least because action will be required across all facets of government, not just Congress. But the Build Back Better Act (also referred to as the budget reconciliation package) was set up to advance climate action — along with so much else — at a level of ambition not previously seen, finally showing Congress going beyond its long-favored realm of tinkering at the edges to enact climate policies that would actually drive path-shifting, curve-bending change.

This is the type of ambition we’ve been waiting for; this is the type of ambition we need.

And this is the type of ambition that fossil fuel interests cannot abide.

So here we are now, staring down significant and multifaceted attacks to the very heart of that ambition, primarily through threats to the CEPP — which would spur the power sector to swiftly transition to clean sources — but also from additional threats to broader programmatic budgets and ambitions.

While compromise is par for the course, legislators cannot capitulate when it comes to including policies that enable major change. So for every cut, for every slash, they must answer: If not this, then what? Because we need major change.

Meeting 2030 targets hinges on power sector transition

To get climate action on track, emissions reductions will need to be drawn from all parts of the economy, all the way from cars on the road to buildings and homes. The Build Back Better Act includes multiple major policies to advance these efforts.

But for the race to 2030 targets, foremost among all the rest is achieving swift, deep reductions from the nation’s electric power sector. This is the foundation upon which so much else of our climate progress will be built, because the end goal for much of what runs on fossil fuels in our economy today is for it to run on electricity tomorrow — and that electricity must be clean.

We need policy interventions to support that.

Because while the nation’s power sector has been undergoing a significant transition away from heavily polluting coal, progress has been uneven and far too much of what has come online to fill the gaps has been still-polluting gas. The country is still hovering at 60 percent fossil fuels in its electricity mix, and coal generation is projected to increasenot decrease, this year.

To address this, policies can do two things: boost the good, and limit the bad.

We need both. We need both because while the former is vital to clean energy deployment, it studiously avoids antagonizing the fossil fuel-fired status quo, and history makes clear that fossil fuel interests will not voluntarily undertake this mission on their own.

This is the reason that the threat of the CEPP falling out of the Build Back Better Act is so significant. It’s not that there aren’t multiple additional policies that will help to spur clean electricity deployment in the bill—there are, and they are incredible, from updated and broadened tax incentives to support for transitioning fossil fuel assets — it’s that the CEPP includes targets, and the CEPP includes sticks.

Without the CEPP, renewables would still be cheap, but they might not be evenly — or sufficiently — deployed, and too many utilities are at risk of sticking too tightly to coal and gas. And that could lead to a non-trivial erosion of the emissions reduction potential of the legislation, as estimated by multiple recent analyses.

So if the CEPP falls out, what comes next?

Within the Build Back Better Act, Congress can approximate the same power sector intent from other types of programs that similarly support both sides of this transition, i.e., toward renewables and away from polluting fossil fuels. It can also look elsewhere to achieve deeper cuts in other sectors.

But it would be a heavy lift. And all the more so if other major initiatives in the Build Back Better Act fall out, from critical environmental justice initiatives to the robust clean energy tax incentives to the methane fee, which the fossil fuel industry is doing everything in its power to unwind.

And otherwise? It’s on to other actors, and a heavier burden for each.

If not this, then what?

No matter what happens with the Build Back Better Act, to reach the 2030 climate targets set by President Biden, the country will need to bring every lever to bear, from states, localities, and businesses to the federal government, Congress and the administration both, and the country will need to look to every economic sector for gains, and the country will need to sustain these efforts throughout the years to come. Any less in one area means more required by the rest.

Recent modeling by Rhodium Group supports this finding, making clear that a forward path exists even if the CEPP falls out. But it would require even more progress by leading states, and rapid action by the Environmental Protection Agency and other federal agencies across multiple sectors, from standards limiting new, unmitigated gas-fired power plants to near-term coverage of refineries and other major emitters.

Much as fossil fuel interests might wish it, undermining one major tool for climate action doesn’t make the problem go away — it just forces taking other, often more difficult, ways.

We do not have time for craven capitulation to inaction. It’s time to make the leap.

Featured image courtesy of NASA. When launched, the TROPICS satellites will work together to provide near-hourly microwave observations of a storm’s precipitation, temperature, and humidity. The mission is expected to help scientists understand the factors driving tropical cyclone intensification and to improve forecasting models. Credits: NASA

 

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Genesis wants a bigger slice of the US luxury market with new EVs en route

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Genesis wants a bigger slice of the US luxury market with new EVs en route

If you haven’t noticed, Genesis is quickly making a name for itself in the US. The luxury automaker now has 60 sales outlets as it expands into new US states. With new EVs launching, Genesis is eyeing a bigger share of the US luxury market.

Hyundai Motor Group’s Genesis brand is quietly emerging as a powerhouse in the US luxury market. Genesis marked its entry into the luxury segment in 2008 as a Hyundai-branded model.

In 2015, Hyundai announced Genesis would become an independent luxury brand. Since launching its first vehicle in the US, the luxury brand’s sales have surged from 7,000 in 2016 to over 69,000 last year. It even outsold Nissan’s Infiniti.

According to Genesis, this is just the start. The Korean luxury brand wants an even bigger slice of the market as it eyes rivals like Porsche.

A big reason behind the brand’s confidence is its new lineup of stylishly electric models. Genesis sells three EVs in the US: The GV60, Electrified G80, and Electrified GV70.

After introducing the Electrified GV70 just last year, the electric SUV is already Genesis’ top-selling EV in the US. According to Kelley Blue Book, Genesis sold 2,343 electric GV70 models in the US through September.

Genesis-Electrified-GV70-NACS
2026 Genesis Electrified GV70 update (Source: Genesis)

Genesis eyes a bigger share of the US luxury market

Altogether, the luxury brand’s EV sales reached over 4,600 through the first nine months of 2024, topping Porsche (4,291) and Volvo (3,644).

Genesis made a statement at the LA Auto Show, unveiling the updated 2026 Electrified GV70. The luxury electric SUV now includes more range and an NACS port so drivers can charge at Tesla Superchargers. It will go on sale in the first half of 2025.

Genesis-US-luxury-EV-market
Genesis at the 2024 LA Auto Show (Source: Hyundai Motor Group)

Meanwhile, Genesis showcased its new GV60 Magma Concept at the event, its first dedicated high-performance EV. The brand sees its Magma performance brand rivaling that of Geman luxury brands like Mercedes AMG, BMW M, and Audi RS.

The Genesis GV60 Magma EV will launch next year, spearheading the brand’s “expansion into the realm of high-performance vehicles.”

Genesis-US-luxury-EV-market
Genesis GV60 Magma EV concept global debut at Goodwood (Source: Genesis)

Genesis enhanced the battery and motor while fine-tuning the chassis, thermodynamics, and profile for more power and efficiency.

It also features an aggressive new design, sitting much lower and wider than the current GV60 model. Genesis added a Magma-exclusive sound system to give it a sports car-like feel in the cockpit.

Genesis-G80-EV-Magma
Genesis G80 EV Magma Concept (Source: Genesis)

In April, we got our first look at the G80 EV Magma concept, which could be a potential challenger to Tesla’s Model S Plaid and the Porsche Taycan GT Turbo.

The luxury brand is expected to launch its flagship electric three-row SUV next year, the GV90. Genesis previewed the ultra-luxury EV in March after unveiling the Neolun concept.

Genesis now has 60 sales bases in the US, with new stores in Washington, Minnesota, New York, and Florida. It’s also building 30 in Canada as it expands its presence in the North American luxury market.

The luxury brand is opening a new dedicated design center in California. The “Genesis Design California” will open in the first half of 2025 as it builds out its US network.

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No, BYD is not taking over NIO as fake rumors claim

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No, BYD is not taking over NIO as fake rumors claim

A rumor spreading like wildfire on social media claims BYD will be taking over NIO (NYSE: NIO) as the EV giant gobbles up market share in China. The rumor was posted by a suspected BYD employee, but NIO is denying the claim.

BYD acquiring NIO would be a massive move as China’s leading EV maker continues to dominate the market. But that’s not going to happen.

According to CnEVPost, NIO’s assistant vice president for branding and communications, Ma Lin, denied the rumors that BYD is taking over the company on Friday.

Ma posted a screenshot on social media asking BYD’s general manager of branding and PR, Li Yunfei if the person who posted the fake rumor was an employee.

Earlier today, the suspected employee claimed BYD and NIO were setting up a joint venture. In a Weibo post, the suspect said BYD would have majority control of the partnership with a 51% share while NIO would get the remaining 49% ownership.

Ma told Li that if it was, in fact, a BYD employee, he needed to issue an official clarification and apologize. If not, they can get the police involved together. Li also denied the rumors, saying the claim was seriously untrue.

BYD-taking-over-NIO
NIO Onvo L60 electric SUV at the 2024 Guangzhou International Auto Show (Source: NIO Onvo)

NIO denies rumors that BYD is taking over the company

This is not the first time rumors surfaced that BYD will be taking over NIO, but because it is a suspected employee, the post has garnered more attention.

BYD is on a major hiring spree as it ramps up production to meet the higher demand. The EV giant now has over 900,000 employees, making it by far the largest A-share listed company in China.

BYD-taking-over-NIO
BYD Dolphin (left) and Atto 3 (right) Source: BYD

After selling over 500,000 vehicles for the first time in a single month in October, BYD’s surge is heating up as the EV giant expands overseas for growth.

October was BYD’s fifth consecutive record sales month as it closes in on auto leaders like Ford in global deliveries.

BYD-taking-over-NIO
Onvo L60 electric SUV models (Source: NIO Onvo)

NIO is also gaining momentum, with sales topping the 20,000 mark for the sixth straight month in October. With output of its new lower-priced Onvo L60 electric SUV ramping up, NIO expects to continue seeing higher demand.

Ma said on Friday that NIO’s “recent situation is quite good.” The company’s head of PR added, “Cash flow turned positive in the third quarter, gross profit improved in October, earning an extra RMB 100 million, and Onvo (deliveries) will exceed 10,000 in December.”

NIO is launching its third brand, Firefly, with deliveries kicking off in the first half of 2025. The company expects sales to double next year as it works to become profitable by 2026.

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Hyundai recalls more than 145,000 EVs

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Hyundai recalls more than 145,000 EVs

Hyundai Motors is recalling 145,235 EVs and other “electrified” vehicles in the US, citing concerns about a loss of driving power, the National Highway Traffic Safety Administration (NHTSA) said on Friday.

The NHTSA announced this morning that the recall affects selected IONIQ 5 and IONIQ 6 EVs, as well as certain luxury Genesis models, including the GV60, GV70, and G80 electrified variants, from the 2022-2025 model years, Reuters reported.

2025-Hyundai-IONIQ-5-prices
2025 Hyundai IONIQ 5 (Source: Hyundai)

It looks like the issue stems from “the integrated charging control units in these vehicles, which may become damaged and fail to charge the 12-volt battery. This malfunction could lead to a complete loss of drive power, posing safety risks for drivers,” the NHTSA stated.

If you’re an owner of one of these Hyundai models dating 2022-2025, stay tuned. Hyundai has not yet provided a timeline as to when affected vehicles will be repaired.

To make that happen, the company’s dealers will inspect and replace the charging unit and its fuse if necessary, NHTSA said. Free of charge, of course.

Importantly, no crashes, injuries, fatalities, or fires due to this issue have been reported in the US, Hyundai reported.


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