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The Einride EV freight truck charging station in Lynwood, California, built by Voltera and located close to the Ports of Los Angeles and Long Beach.

Einride

One of the first EV charging stations of scale for freight trucks is opening near the major ports of Los Angeles and Long Beach, California, as the trucking market takes some limited, but significant steps to build the infrastructure required for a long-term transition to EV trucking and net-zero shipping.

Built by Sweden-based freight mobility company Einride and EV charging infrastructure company Voltera, the Lynwood Smartcharger Station along Interstate 710 has 65 chargers and the ability to charge 200 vehicles a day, initially for routes run by global shipping giant A.P. Moller-Maersk, which is also a venture investor in Einride, which was named to the 2023 CNBC Disruptor 50 list.

The Ports of Los Angeles and Long Beach handles 29% of all ocean cargo container traffic coming into the U.S.

“The launch of Einride’s first Smartcharger station in the U.S. marks a momentous stride in establishing digital, electric freight as an important enabler to a more resilient U.S. freight system,” Robert Falck, CEO and founder of Einride, said in a statement.

Founded in 2016, Einride operates one of the largest fleets of heavy duty electric trucks for large companies, including Pepsi.

Voltera, which develops, owns and operates EV infrastructure, said the site was permitted, built, electrified and operational in under 18 months. “In the world of charging infrastructure, that’s pretty remarkable,” its CEO Matt Horton said in a statement.

Einride plans to open many EV charging stations for freight trucking on the West and East coasts, though California is the only state in which there are any EV freight charging stations of scale today. In addition to the new Lynwood station, logistics company NFI announced a freight EV charging station in February that can handle up to 50 trucks, including from Volvo, in a collaboration with Electrify America and Southern California Edison. The NFI EV charging station for port drayage trucks is located at its warehouse facility in Ontario, California, also a strategic location to serve the major southern California ports.

Einride CEO on decision-making and CapEx in a higher rate environment

Due to the limitations that EV truck batteries face in range, trucking companies and EV partners are focusing on drayage transportation, and the movement of goods across short distances, for use at ports and intermodal logistics facilities.

Erik Neandross, CEO of transportation consultant GNA, which works with clients on low-carbon and zero-emissions freight, said servicing 50 trucks or more is a different level of magnitude than what’s been done to date in the freight market, but he added that it is still early in the development of EV charging at scale for trucks. “We’re super early. It’s fair to say we’re in the first half of the first inning. California really is the epicenter of activity at this scale and magnitude,” he said.

California’s government has been aggressive in offering grants and incentives to build EV infrastructure, and also approved its utilities to spend $750 million on the development, which makes a significant difference in a market where there are still few EV trucks on the road or charging stations in operation, making it difficult to prove the cost competitiveness versus diesel fuel.

Government and utility spending, combined with regulations to reach net zero by 2040 — and the need among major shippers such as consumer products companies and big-box retailers, from Pepsi to Walmart, to meet their own carbon goals — create an environment in which more investment across the U.S. freight market will be occurring.

The California Air Resources Board is requiring truck manufacturers to begin phasing in available heavy-duty EV technology this year, with expectations to have all zero-emission short-haul drayage fleets by 2035. Medium and heavy trucks make up only about 4% of vehicles in the U.S., but consume more than 25% of total highway fuel and represent nearly 30% of highway carbon emissions, according to the Department of Energy.

Additional EV charging projects at ports in New York and New Jersey, as well as the Pacific Northwest, are planned.

“Now is the time to test it before the next few fleet buying cycles,” Neandross said. “There is nothing like building the infrastructure to go out and see, learn. That’s where we are today.”

The entire supply chain, from the manufacturing of products, to a container being shipped all the way from Shanghai to Chicago, will require a complex net zero equation, and shippers and freight companies are targeting everything from energy use at plants to source materials, packaging and logistics. “To get to net zero, you have to do all of it,” Neandross said. “A lot of the companies we work with have been hard at work on the non-transport side. Take Pepsi, they’ve done all they can do to put in LED lights and buy renewable energy and maximize the efficiency of production. Now it’s time to get to work on trucks and the logistics side. It’s hard, but it has to be done.”

The Environmental Protection Agency released new emissions mandates for cars and pickups this week, and the EPA is expected to soon issue new emissions requirements for medium and heavy-duty trucks, which will make alternatives to diesel engines more competitive, including both compressed natural gas-powered trucks and zero-emission EV trucks.

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Amazon, Google and Meta support tripling nuclear power by 2050

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Amazon, Google and Meta support tripling nuclear power by 2050

Google, Meta, and Amazon join forces to boost nuclear energy by 2050

HOUSTON — Amazon, Alphabet’s Google and Meta Platforms on Wednesday said they support efforts to at least triple nuclear energy worldwide by 2050.

The tech companies signed a pledge first adopted in December 2023 by more than 20 countries, including the U.S., at the U.N. Climate Change Conference. Financial institutions including Bank of America, Goldman Sachs and Morgan Stanley backed the pledge last year.

The pledge is nonbinding, but highlights the growing support for expanding nuclear power among leading industries, finance and governments.

Amazon, Google and Meta are increasingly important drivers of energy demand in the U.S. as they build out artificial intelligence centers. The tech sector is turning to nuclear power after concluding that renewables alone won’t provide enough reliable power for their energy needs.

Amazon and Google announced investments last October to help launch small nuclear reactors, technology still under development that the industry hopes will reduce the cost and timelines that have plagued new reactor builds in the U.S.

Meta issued a call in December for nuclear developers to submit proposals to help the tech company add up to four gigawatts of new nuclear in the U.S.

The pledge signed Wednesday was led by the World Nuclear Association on the sidelines of the CERAWeek by S&P Global energy conference in Houston.

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French industrial giant Schneider Electric hails the significance of China’s ‘DeepSeek moment’

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French industrial giant Schneider Electric hails the significance of China’s ‘DeepSeek moment'

Schneider Electric chairman says China’s DeepSeek breakthrough is ‘very good’ news

China’s so-called “DeepSeek moment” is likely to be good news in the global race to develop artificial intelligence models that can carry out more complex tasks, according to Jean-Pascal Tricoire, chairman of French power-equipment maker Schneider Electric.

“I actually think its good news. We need AI at every level,” Tricoire told CNBC’s Steve Sedgwick at CONVERGE LIVE in Singapore on Wednesday.

“We need AI to optimize your whole enterprise at all levels, so that you can buy better, consume better, decide better, source better. To do all of this, we need models to operate on a smaller scale,” he added.

Tricoire said the emergence of Chinese AI app DeepSeek showed that AI models can achieve the same results as some of its more established U.S. rivals, but with a much smaller model.

It “will actually spread AI at all levels of the architecture much faster,” Tricoire said. He added that DeepSeek’s blockbuster R1 model would be “fantastic” for improving safety and reliability when deploying AI on dangerous equipment.

“The spread of AI models at every level of what we need is actually very good news,” Tricoire said.

His comments come shortly after Schneider Electric reported record sales and profits in 2024.

The company, which has been a big beneficiary of the artificial intelligence trend, raised its 2025 profit margin following robust fourth-quarter demand for data centers.

Shares of Schneider Electric rose 33% in 2024, following a 39% upswing in 2023. The Paris-listed stock is down around 7% year to date, however, with China’s recent AI push sparking concerns about AI investment and tech sector returns.

Data centers, which consume an ever-increasing amount of energy, represent a key piece of infrastructure behind modern-day cloud computing and AI applications.

— CNBC’s Ganesh Rao contributed to this report.

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Ailing Swedish EV battery firm Northvolt files for bankruptcy

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Ailing Swedish EV battery firm Northvolt files for bankruptcy

A Northvolt building in Sweden, photographed in February 2022.

Mikael Sjoberg | Bloomberg | Getty Images

Struggling electric vehicle battery manufacturer Northvolt on Wednesday said it has filed for bankruptcy in Sweden.

The firm said it that it submitted the insolvency filing after an “exhaustive effort to explore all available means to secure a viable financial and operational future for the company.”

“Like many companies in the battery sector, Northvolt has experienced a series of compounding challenges in recent months that eroded its financial position, including rising capital costs, geopolitical instability, subsequent supply chain disruptions, and shifts in market demand,” Northvolt noted.

“Further to this backdrop, the company has faced significant internal challenges in its ramp-up of production, both in ways that were expected by engagement in what is a highly complex industry, and others which were unforeseen.”

Northvolt’s collapse into insolvency deals a major blow to Europe’s ambition to become self-sufficient and build out its own EV battery supply chain to catch up to China, which leads as the world’s largest market for electric vehicles by a wide margin.

The Swedish battery firm had been seeking financial support to continue its operations amid an ongoing Chapter 11 restructuring process in the United States, which it kicked off in November.

“Despite liquidity support from our lenders and key counterparties, the company was unable to secure the necessary financial conditions to continue in its current form,” Northvolt said Wednesday.

Northvolt said a Swedish court-appointed trustee will oversee the company’s bankruptcy process, including the sale of the business and its assets and settlement of outstanding obligations.

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