Check out Amtrak’s new state-of-the-art Airo trains
Amtrak has unveiled details of its newest train – the Amtrak Airo – that will replace its 50-year-old trains starting in 2026.
Siemens Mobility will build 73 Airos in California for Amtrak. The new trains will first roll out in the Northeast Corridor, and also along some state-funded routes. The entire fleet is expected to be operational in 2031.
The train cars are being funded by the Infrastructure Investment and Jobs Act, which provides $66 billion in rail funding to “to eliminate the Amtrak maintenance backlog, modernize the Northeast Corridor, and bring world-class rail service to areas outside the northeast and mid-Atlantic,” according to the White House website.
How they’re powered
The Airos will have bidirectional capabilities and operate at speeds up to 125 mph. They’ll feature dual-power electric and diesel engines, which will reduce the time it takes for them to transition from electrified to non-electrified.
Tracks aren’t electrified on the West Coast, so those trains will be diesel-only. Amtrak states that its “new trains are more fuel efficient and produce 90% less particulate emissions in diesel operations,” but doesn’t go into details about how that’s achieved.
In New York, the hybrid-engine trains will have zero emissions while going through tunnels.
Amtrak Airo car features
The Airo cars feature panoramic windows in both business and coach, and there’s a choice of single or double seating in business. (I recently sat in a single seat in business on the Vermonter line, so while it’s not new, it’s good they’re keeping this feature, as it’s pretty great.)
Amtrak says the seats on Airo are ergonomically designed, have plenty of legroom, feature bigger and sturdier tray tables, moveable headrests, and dedicated cup and seatback tablet holders. There are also individual outlets, USB ports, and onboard Wi-Fi. (Again, Amtrak already offers those tech features, and I’m hoping the Wi-Fi is faster on the new trains, because it’s currently kind of slow.)
Airo will also have a redesigned cafe car, with “self-service options.” Amtrak doesn’t elaborate on what that means – vending machines? – but I’m intrigued.
Electrek’s Take
I am a huge train fan, and that includes Amtrak. These train car updates are welcome and long overdue. They will inevitably reduce emissions because they’re more efficient and technologically advanced, and they run on electricity at least part of the time.
On a day where the Biden administration just announced $750 million for the development of green hydrogen technologies, it makes a bit wistful when I see the word “diesel” in the same announcement as new train cars. But I get that hydrogen is super new – Germany only just launched the world’s first entirely hydrogen-powered train line in August – and these train car upgrades needed to be rolled out asap.
Here’s the thing: According to the EPA, the transportation sector is the largest producer of emissions in the US. And when you break it down by source, rail only creates 2% of emissions. Compare that to light-duty vehicles at 57%. So these beautiful new train cars will hopefully entice people to ditch their gas cars and ride the rails more often.
Read more: M8 electric trains replace diesel trains on Connecticut’s Shore Line East line
Photos: Amtrak
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Chevron beat third-quarter earnings and revenue expectations, returning a record amount of cash to shareholders.
Shares were up 2.6% in the premarket following the report’s release.
The oil major’s quarterly profit, however, declined substantially compared to the year-ago period due to lower margins on refined product sales, lower prices and the absence of favorable tax times.
Chevron is aiming to streamline its portfolio, with asset sales in Canada, Congo and Alaska expected to close in the fourth quarter of 2024. The company is also target $2 billion to $3 billion in cost reductions from 2024 through the end of 2026.
Here is what Chevron reported for the third quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
- Earnings per share: $2.51 adjusted, vs. $2.43 expected
- Revenue: $50.67 billion, vs. $48.99 billion expected
Chevron’s net income came in at $4.49 billion, or $2.48 per share, down 31% from $6.53 billion, or $3.48 per share, in the third quarter of 2023. When adjusted for foreign currency impacts, the company reported earnings of $2.51 per share, solidly topping Wall Street’s expectations for the quarter.
Chevron booked revenues of $50.67 billion, also beating Street expectations but declining 6% from the $54.1 billion reported in the third quarter last year.
The oil major returned a record $7.7 billion to shareholders in the quarter, including $4.7 billion in share buybacks and $2.9 billion in dividends.
Chevron produced 3.36 million oil-equivalent barrels per day in the quarter, a 7% increase over the third quarter of 2023, driven by record output in the Permian Basin.
Chevron’s stock is largely flat for the year, underperforming the S&P 500 energy sector which has gained more than 6%. Shares have struggled to gain ground as uncertainty looms over the company’s pending $53 billion acquisition of Hess.
The Federal Trade Commission has cleared the deal, though it prohibited John Hess from joining Chevron’s board.
Chevron remains locked in a dispute with Exxon Mobil, which is claiming a right of first refusal over Hess Corp.’s lucrative oil assets in Guyana. If an arbitration court rules in Exxon’s favor, Chevron’s acquisition of Hess would fail to close.
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