Volvo CE expands its electric construction vehicle line-up with 3 new models
In a bid to expand its zero-emission offerings, Volvo CE has added three new mid-size electric construction machines to its expanding lineup of all-electric equipment options.
The all-new L120 Electric wheel loader, L90 Electric wheel loader, and EWR150 Electric wheeled excavator join Volvo CE’s existing BEV equipment offerings to help support its customers’ ESG goals and fossil-free ambitions.
“Our commitment to building a better world relies on us driving sustainable change across different equipment types and size classes,” Elodie Guyot, Head of electromobility sales for region Europe at Volvo CE. “We already have dependable electric solutions out in the field across our compact portfolio and a growing part of our mid-size range. We are excited to continue delivering on this commitment now with three medium-sized zero-emission innovations, across new lines and sizes, all of which benefit from our industry-leading, high-performing electric technology.”
The three new vehicles were unveiled for the first time this past weekend at Volvo Days 2024, where Volvo said that they were a “cleaner, smarter choice for customers looking to decarbonize their operations.”
L120 Electric wheel loader
The 20-ton L120 Electric wheel loader offers a 6-ton lifting capacity and quiet, precise, vibration-free operation, making it a valuable asset on job sites from construction sites to ports and logistic centers, and on through to waste management and recycling.
Volvo’s L120 Electric delivers between 5-9 hours of continuous on a single charge, depending on the workload. While that’s enough for a typical shift, when the Volvo does need to power up, it can charge from 10-100% in one hour 40 minutes with a 180 kW DC fast charger, or Volvo’s own PU500 mobile power unit.
L90 Electric wheel loader
Like the L120, above, the L90 Electric has dedicated electric motors for propulsion and hydraulics, enabling full available power to both systems, but enjoys a faster response and shorter cycle times than conventional models. The L90 Electric offers 4-5 hours of continuous operation across most applications, and up to 8 hours in lighter duty applications.
The L90 Electric can charge 0-100% in about 70 minutes using a 150kW DC fast charger or the PU500 mobile power unit, while its AC on-board cable can fully charge the loader in about 6 hours for overnight charging.
EWR150 Electric wheeled excavator
Volvo says the EWR150 Electric is different from other wheeled excavators in this class because it’s designed and built as an electric vehicle. The 15-ton machine is said to be ideal for construction, road work, utility installation, and landscaping operations with an updated cab that offers both improved telematics and greater comfort and smoothness compared to the diesel-powered EWR150E.
The Swedish construction company didn’t release battery specs or detailed information about its new EVs’ motors or hydraulics, but past electric releases from Volvo have met or exceeded the standards set by their diesel counterparts. I can’t imagine these would be any exception.
Electrek’s Take
Volvo CE has one of the most comprehensive lineups of electric equipment in the business, and they’re constantly expanding it. The biggest selling point isn’t the range of EVs Volvo is offering, however, it’s all the ways the company is thinking about energy, and getting energy where it’s needed to keep the dirt moving and the wheels of America turning – whether that’s mobile charging solutions, trailered battery energy storage systems, or on-site power generation.
SOURCE | IMAGES: Volvo CE.
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Environment
Elon Musk Tapped to Lead New ‘DOGE’ Department—Despite the Government Already Having One for Efficiency
Tesla CEO Elon Musk is to officially join Trump’s administration as the co-head of the new US Department of Government Efficiency – a second federal department with the goal of making government spending more efficient.
You can’t get more ironic than that.
Throughout the elections, Musk, who is already CEO of Tesla, and SpaceX, a well as the defacto head of X, xAI, Neuralink, and the Boring Company, has been floating the idea to add to his workload by joining the Trump’s administration to lead a new department aimed at making the federal government more efficient.
He has been calling it the “Department of Government Efficiency”, which spells out ‘DOGE’, a meme that Musk appears to enjoy.
Well, now Trump appears to want to be going through with this idea.
He announced the new department and Musk as head, along with Vivek Ramaswamy, in a statement today:
I am pleased to announce that the Great Elon Musk, working in conjunction with American Patriot Vivek Ramaswamy, will lead the Department of Government Efficiency (“DOGE”). Together, these two wonderful Americans will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies – Essential to the “Save America” Movement. “This will send shockwaves through the system, and anyone involved in Government waste, which is a lot of people!” stated Mr. Musk.
What’s most ironic is that there’s already a federal department with the goal of cutting government waste and ensuring efficiency: the Government Accountability Office (GAO).
The GAO’s main objectives are:
- auditing agency operations to determine whether federal funds are being spent efficiently and effectively;
- investigating allegations of illegal and improper activities;
- reporting on how well government programs and policies are meeting their objectives;
- performing policy analyses and outlining options for congressional consideration;
- issuing legal decisions and opinions;
- advising Congress and the heads of executive agencies about ways to make government more efficient and effective
It sounds similar to what Musk described when talking about his DOGE, but Trump hasn’t gone into many details other than it will “cut waste.”
He also has a confusing message as he compares the initiative, which is supposed to cut government spending, to “The Manhattan project”, a massive and expensive government project.
Trump said that DOGE will help the government “drive large scale structural reform”:
It will become, potentially, “The Manhattan Project” of our time. Republican politicians have dreamed about the objectives of “DOGE” for a very long time. To drive this kind of drastic change, the Department of Government Efficiency will provide advice and guidance from outside of Government, and will partner with the White House and Office of Management & Budget to drive large scale structural reform, and create an entrepreneurial approach to Government never seen before.
The statement also noted that DOGE will only operate until July 4, 2026.
Musk has previously claimed that he could cut at least $2 trillion dollars of the $6.5 trillion dollar US federal budget.
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A pump jack in Midland, Texas, US, on Thursday, Oct. 3, 2024.
Anthony Prieto | Bloomberg | Getty Images
Oil prices may see a drastic fall in the event that oil alliance OPEC+ unwinds its existing output cuts, said market watchers who are predicting a bearish year ahead for crude.
“There is more fear about 2025’s oil prices than there has been since years — any year I can remember, since the Arab Spring,” said Tom Kloza, global head of energy analysis at OPIS, an oil price reporting agency.
“You could get down to $30 or $40 a barrel if OPEC unwound and didn’t have any kind of real agreement to rein in production. They’ve seen their market share really dwindle through the years,” Kloza added.
A decline to $40 a barrel would mean around a 40% erasure of current crude prices. Global benchmark Brent is currently trading at $72 a barrel, while U.S. West Texas Intermediate futures are around $68 per barrel.
Oil prices year-to-date
Given that oil demand growth next year probably won’t be much more than 1 million barrels a day, a full unwinding of OPEC+ supply cuts in 2025 would “undoubtedly see a very steep slide in crude prices, possibly toward $40 a barrel,” Henning Gloystein, head of energy, climate and resources at Eurasia Group, told CNBC.
Similarly, MST Marquee’s senior energy analyst Saul Kavonic posited that should OPEC+ unwind cuts without regard to demand, it would “effectively amount to a price war over market share that could send oil to lows not seen since Covid.”
However, the alliance is more likely to opt for a gradual unwinding early next year, compared to a full scale and immediate one, the analysts said.
Should the producers group proceed with their production plan, the market surplus could nearly double.
Martoccia Francesco
Energy strategist at Citi
The oil cartel has been exercising discipline in maintaining its voluntary output cuts, to the point of extending them.
In September, OPEC+ postponed plans to begin gradually rolling back on the 2.2 million barrels per day of voluntary cuts by two months in an effort to stem the slide of oil prices. The 2.2 million bpd cut, which was implemented over the second and third quarters, had been due to expire at the end of September.
At the start of this month, the oil cartel again decided to delay the planned oil output increase by another month to the end of December.
Oil prices have been weighed by a sluggish post-Covid recovery in demand from China, the world’s second-largest economy and leading crude oil importer. In its monthly report released Tuesday, OPEC lowered its 2025 global oil demand growth forecast from 1.6 million barrels per day to 1.5 million barrels per day.
The pressured prices were also conflagrated by a perceivably oversupplied market, especially as key oil producers outside the OPEC alliance like the U.S., Canada, Guyana and Brazil are also planning to add supply, Gloystein highlighted.
Bearish year ahead for oil
The market consensus is that there’ll be a “substantial” oil stock build next year, said Citibank energy strategist Martoccia Francesco.
“Should the producers group proceed with their production plan, the market surplus could nearly double… reaching as much as 1.6 million barrels per day,” said Francesco.
Even if OPEC+ doesn’t unwind the cuts, the future ofl prices is still looking break. Citi analysts expect Brent price to average $60 per barrel next year.
Further fueling the bearish outlook is the incoming administration of U.S. President-elect Donald Trump, whose return is associated by some with a potential trade war, said analysts who spoke to CNBC.
“If we do get a trade war — and a lot of economists think that a trade war is possible, and particularly against China — we could see much, much lower prices,” said OPIS’ Kloza.
Trump has also touted a “drill baby drill” policy for U.S. producers, vowing to cut energy prices in half.
For that to happen to retail gasoline prices, oil would need to drop to “below $40” per barrel, said Matt Smith, Kpler’s lead oil analyst.
Right now, retail gasoline prices are at a “sweet spot” at $3 per gallon, where consumers do not feel the pinch and input prices are still sufficiently high for producers, Smith added.
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