Connect with us

Published

on

Russia announced that it would cut oil production by 500,000 barrels per day in March after the West slapped price caps on Russian oil and oil products.

Picture Alliance | Picture Alliance | Getty Images

The International Energy Agency on Wednesday said Russia’s oil export revenues fell sharply in February, prompted by bans and price caps designed to curtail President Vladimir Putin’s ability to finance the war in Ukraine.

The IEA said Russia’s estimated oil export revenues fell to $11.6 billion last month, down $2.7 billion from January when volumes were significantly higher.

“It remains to be seen if there will be sufficient appetite for Russian oil products now that the price cap is in place or if its production will start to fall under the weight of sanctions. Revenues are already dwindling,” the group said in its latest oil market report.

The energy agency said, citing the Russian finance ministry, that Moscow’s fiscal receipts from oil sales were just 45% of the level from a year earlier.

The latest figures come shortly after the IEA said in mid-February that the West’s oil war against Russia appeared to be having the “intended effect” despite surprisingly resilient production and exports in recent months.

We're 'military-neutral' but not neutral on the Ukraine war, Irish minister says

Ukrainian officials and campaigners have previously called for Western policymakers to ramp up the financial pressure on Russia by targeting its oil revenues in order to help Kyiv prevail.

The European Union’s embargo on Russian oil products came into effect on Feb. 5, building on the $60 oil price cap implemented by the Group of Seven major economies on Dec. 5. The latter measure also coincided with a move by the EU and U.K. to impose a ban on the seaborne import of Russian crude oil.

Asked on Tuesday whether he was concerned last year that the Russian economy might have collapsed due to international sanctions, Putin said he had been worried but that Russia’s “economic sovereignty” now was a major result. The foundations of Russia’s economic stability were “stronger than anyone thought,” he added.

Putin said Russia’s financial system had got stronger and that Western companies that left Russia last year thought the economy would collapse “but it didn’t.”

OPEC is more concerned about supply stability than seasonality of oil prices, consultancy says

— CNBC’s Holly Ellyatt contributed to this report.

Continue Reading

Environment

XCMG shows electric heavy equipment with BYD battery swap tech ahead of CES

Published

on

By

XCMG shows electric heavy equipment with BYD battery swap tech ahead of CES

Electric equipment from XCMG can now be ordered with interchangeable battery swap tech, enabling heavy trucks and construction equipment to swap out their BYD-developed, 400 kWh battery packs in just three minutes, and top-off as quickly as diesel.

Xuzhou Construction Machinery Group Co., Ltd. (XCMG, for short) may not be a household name here in the US, but the Chinese multinational is the third largest manufacturer of construction machinery in the world – and, with the launch of a full line of heavy equipment featuring battery-swap technology, they’re making a case for becoming the number 1 HDEV manufacturer sooner than later.

And we’re not just talking about off-highway and heavy equipment – the XCMG’s swappable BYD batteries are making their way to on-road trucks as well … but we’ll get to that.

XCMG ZNK95 electric autonomous haul truck

Xuzhou Construction Machinery Group Co., Ltd.
XCMG autonomous ZNK95 truck and XE1600H hybrid excavator; via International Mining.

XCMG showed off its latest electric equipment at last month’s Bauma China show, including an updated version of its of its 85-ton autonomous electric mining truck. Known as the ZNK95 (above), the truck features a fully cab-less design – meaning there isn’t even a place for an operator to sit, let alone operate. That’s too bad, too, because what operator wouldn’t want to experience a dedicated permanent magnet synchronous electric drive system capable of putting out 800 kW (1070 hp) and 22,000 Nm (16,200 lb-ft) of torque?

But autonomous solutions aren’t about hp and torque – they’re about keeping operators out of extreme and dangerouns environments. To that end, XCMG says its new HDEVs are fully capable of operating in high-altitude, extremely cold environments with temperatures as low as -40°C (a temp. that most diesels wouldn’t be able to start at, let alone run).

Even in those extreme climates, the XCMG gets the job done with an autonomous driving system that integrates a number of multiple cutting-edge technologies that combine environmental perception, decision-making and planning, vehicle control, and communication into a single dashboard that can be monitored by the fleet manager.

The system can even diagnose faults on individual vehicles and bring them back to service before they break down in the field – a huge potential problem if a truck or dozer gets caught underground!

The ZNK95 has already been deployed at a large, open-pit mine in Inner-Mongolia, China, that has adopted a comprehensive unmanned and electrified construction solution from XCMG Machinery for its latest “green” mining operation. The company says the mine will emit 149,000 fewer tons of harmful carbon emissions than it would with diesel haul trucks annually by the time its full order of ZNK95s is delivered in 2026.

But wait, there’s more …

If you needed a reminder that China is light-years ahead of the US when it comes to electrification tech (and, yes, I know light-years measure distance and not time – grow up), you should know that XCMG’s swappable battery tech, which features 400 kWh packs using BYD blade-style battery cells packed at a facility that’s run as a JV between XCMG and BYD, is such a non-event in a country that’s seen millions of swaps that it didn’t even merit a press release at Bauma.

The trucks were just shown, and even that was after more than 1500 of the battery-swap capable MDEVs (XCMG’s new XG2 EX630S cabovers) was already delivered to customers in China and put into service.

In fact, the only reason I know about it at all was because I follow Etrucks New Zealand, an XCMG dealer, on LinkedIn, and he was talking it up.

“XCMG are by far the dominant EV exhibitor at Bauma Shanghai. Here a truck crane solution to swap construction machine batteries,” said Ross Linton, owner and President of Etrucks New Zealand. “Here a truck crane solution to swap construction machine batteries.”

XCMG battery swap crane

XCMG battery-swap vehicle; via Etrucks New Zealand.

I’ll be at CES next week, where I’m sure Caterpillar will be playing up its 100th anniversary, John Deere will once again show off a new, updated remote/autonomous solution, and Volvo will reveal another new addition to its HDEV line-up. None of them are likely to show up with a practical battery-swap EV solution that’s ready to deploy, today.

Instead, they’re all playing catch up – if they’re aware of XCMG at all.

SOURCES | IMAGES: Etrucks New Zealand, International Mining, USS.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Tesla drivers stuck in wait lines at Swedish Superchargers, Tesla blames union strikes

Published

on

By

Tesla drivers stuck in wait lines at Swedish Superchargers, Tesla blames union strikes

Tesla drivers in Sweden are stuck in wait lines at Superchargers stations. Tesla blames union strikes preventing them from connecting their new stations to the grid.

For more than a year now, Tesla service workers in Sweden have been on strike, demanding inclusion in a collective agreement.

Tesla has historically opposed unions and successfully resisted unionization at its manufacturing facilities. Initially, this strike in Sweden seemed manageable, involving only a few dozen workers. However, Tesla underestimated the strength of solidarity among Swedish workers.

While the automaker managed to get around the service workers strike, it is now feeling the impact of “sympathy strikes” from other unions in Sweden.

Several other unions in the country, including port workers, electricians, and cleaning services that work with Tesla, have refused to cooperate with the company in support of the strike.

Now, one of those sympathy strikes is really starting to cause trouble to Tesla owners, and other EV owners.

Union IF Metall used its influence to prevent Tesla from powering new Supercharger stations to put pressure to bring them to the negotiation table, and during the holidays, it is resulting in extremely long lines at the working Supercharger stations, as some posted on X (Nicklas Nilsso):

We have seen long wait lines at Tesla Superchargers before, but I think this might be the longest I’ve ever seen.

The same Tesla owner posted a local Supercharger map that showed that the vast majority of stations in the country currently required wait times to access a charger:

Max de Zegher, Tesla’s head of charging, commented on the situation and blamed the union strikes for preventing over 100 new Superchargers from being energized:

One of those “sympathy strikes” is getting pretty impactful As forecasted, Swedish EV drivers are suffering and EV infrastructure is not keeping up unless Superchargers get energized by the utilities blocking them from getting energized. Tesla Superchargers are critical infrastructure, especially for peak travel days like this. 100+ stalls in Sweden would have been energized this winter, if it wasn’t for sympathy strikes.

He added that there’s “no clear path” to fixing the situation:

Despite no clear path yet to getting turned on, we will also continue to invest and build sites for Swedish EV drivers, including more capacity in Malung, Käppen, Vansbro, Idre, Särna, and Sunne. We appreciate the support from the public to help us get Superchargers energized asap. Waiting in line like this is super painful, hurts EV adoption and totally fixable!

Tesla CEO Elon Musk has taken a hard line against unions and shown unwillingness to negotiate with them.

The automaker is also facing growing union pushbacks in Germany.

Electrek’s Take

That’s a bummer. As de Zegher says, wait lines at chargers are not a great look for EVs. The good news is that most people know the reason for this problem in this specific case is this union dispute rather than an actual problem with EVs.

Now, of course, Tesla blames it on the unions, and the unions blame it on Tesla for not engaging with them.

Can’t we just all be friends?

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

It’s an electric BMX bike! It’s a skateboard! It’s a DRYFT Board… something completely new [Video]

Published

on

By

It's an electric BMX bike! It's a skateboard! It's a DRYFT Board... something completely new [Video]

A new company called DRYFT1 is sliding its way into electric mobility on the wheels of a new hybrid product that mixes a BMX bike with a skateboard. The DRYFT Board is a hybrid board cross (HBX) that has combined the best elements of BMX and skateboarding into a one-of-a-kind all-electric product that gives riders the freedom to freestyle on roads in ways we haven’t seen before. You’ve gotta see this thing in action in the video below.

DRYFT1 is a new company with roots in Venice, California, a renowned area it credits for inspiring its dedication to motion and creativity. The company is just coming out of stealth mode and is fully funded, reiterating to Electrek that this is “not a Kickstarter.”

DRYFT1 describes its company ethos in one word: “freedom.” Recreational riders in Southern California have already taken to land and sea with surfboards, bikes, and skateboards, many of which have gone electric.

However, DRYFT1 has created a new one-of-a-kind product that allows riders to paint their local pavement in a new way. Today, the company introduced its flagship product, the DRYFT Board, an electric bike and skateboard hybrid that looks like it brings a new level of fun and expression to an already creative mobility segment.

The design of the DRYFT Board may raise some eyebrows at first glance, but once you see what an experienced rider can do on it, you’re probably going to want to take on for a spin yourself.

DRYFT1 launches a unique electric bike/skateboard combo

Per DRYFT1, its new “board” is all about the slide. The BMX bike/skateboard hybrid has been equipped with an electric motor that replicates the indescribable glide of a drift and has opened up access to that feeling to anyone, anywhere. DRYFT1 described the goal of its product:

Taking the coveted feeling that was once limited to those in these worlds of action sports, pushing their limits of speed and friction, and bringing that sought-after movement to the slide to anyone.

With the heart of an e-bike and the soul of a flat-track motorcycle, the DRYFT Board arrives in a category all its own (just don’t call it an e-scooter). Its skateboard deck is comprised of bamboo, fiberglass, and carbon fiber to deliver durability and resilience through slides and other sleek maneuvers on the road.

It is powered by a 500W front hub motor that can propel the board up to 20 mph, and the bike/skateboard hybrid’s battery can deliver 17 to 20 miles of all-electric range. Those are important stats for commuting, especially in a straight line, but that’s not what the DRYFT Board was designed for.

The electric skateboard/bike hybrid features a custom-engineered independent suspension truck system made from aluminum alloy, complete with 51mm springs to enable controlled sliding, carving, and drifting. Those maneuvers stem from the board’s center caster wheel, which is supported by proprietary polyurethane edge wheels for grip and drift performance.

Riders can choose between two ride modes: “Slide Mode” for smooth sliding on the pavement, and “Carve Mode,” which locks the center wheel for smooth cruising. While sliding, carving, or just cruising, riders can control the speed and acceleration of the electric skateboard/bike combo with a right thumb throttle on the handlebars.

Other features include a front hydraulic disc brake and high-quality grip tape on the rear deck. DRYFT1 also designed the board to disassemble into two components for easier transport and storage. The DRYFT Board electric bike and skateboard hybrid debuts in two colors – “Dryft Blue” and “Asphalt Black.”

The Dryft Board is available for purchase at Dryftboard.com beginning today and is priced at $3,500.

As previously mentioned, it’s impossible to truly grasp the capabilities of this unique new form of electric mobility without seeing it in action, so we recommend checking out DRYFT1’s launch video below.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending