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A general view of the BP logo and petrol station forecourt sign on January 22, 2024 in Southend, United Kingdom.

John Keeble | Getty Images News | Getty Images

BP shares jumped at the market open following weekend reports that activist investor Elliott Management has built a stake in the struggling oil major and could pressure the energy company to shift gears on its core oil and gas businesses.

BP stock was up 7.14% at 8:41 a.m. London time.

The company has declined to comment on the reports, which do not specify the size of the stake accrued by Paul Singer’s hedge fund. CNBC has reached out to Elliott Management for comment.

The British oil major, which is set to unveil its fourth-quarter results on Tuesday, last month issued a trading update warning of higher corporate costs, lower fourth-quarter realized refining margins and one-off charges linked to its bio-ethanol acquisition.

This breaking news story is being updated.

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Chicago EV deals, Amazon delivery vans for all, and visits from the FBI!

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Chicago EV deals, Amazon delivery vans for all, and visits from the FBI!

On today’s wheelin’ and dealin’ episode of Quick Charge, we take a look at a $9,140 deal on a 2025 Nissan LEAF*** in Chicago, things you can do with a robotic lawnmower, and talk about the tough times Tesla is experiencing while its CEO asks if you’ve seen Kyle.

We’ve also got some fresh new additions to our list of 0% interest EV and PHEV financing offers, a hot new commercial electric van heading to market, and an industry icon reaches a new, multibillion dollar threshold of ZEV funding. All this and more – enjoy!

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple PodcastsSpotifyTuneIn, and our RSS feed for Overcast and other podcast players.

New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.

Got news? Let us know!
Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.

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New York awards $60M to Revel to install 267 DC fast chargers

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New York awards M to Revel to install 267 DC fast chargers

New York Governor Kathy Hochul today announced it would loan $60 million to Revel to triple its EV charging infrastructure across New York City. 

NY Green Bank (NYGB), the state’s clean energy investment fund and a division of the New York State Energy Research and Development Authority (NYSERDA), is providing the loan to Revel, New York City’s largest provider of public DC fast-charging. It’s NYGB’s first EV charging infrastructure transaction.

The loan will allow Revel to more than triple its current New York City public fast-charging network in 2025. It will pay for the construction of 267 new charging stalls across nine sites and support the design and build of EV charging stations.

Revel will complete construction of the below 178 sites in the next 12 months, with the remainder to be completed by 2027. (Those with asterisks are in disadvantaged communities):

  • 60 charging stalls in Maspeth, Queens, which will be the largest fast-charging station in the Northeast US
  • 44 charging stalls near LaGuardia Airport, making it the largest fast-charging station near an airport in the US*
  • 24 charging stalls at John F. Kennedy International Airport (JFK), making it the largest charging station at the airport*
  • 30 charging stalls in Greenpoint, Brooklyn
  • 20 charging stalls in the Port Morris section of the Bronx*

Revel broke ground in November at JFK Airport, adjacent to the main rideshare vehicle waiting area, with support from the Port Authority of New York and New Jersey. With funding from NYGB, Revel will now be able to complete the construction of the 24 charging stalls. That site will open in Q1 2025 and is expected to be one of the busiest EV charging stations in the country.

NYSERDA’s president and CEO, Doreen M. Harris, said, “Increasing the state’s charging capabilities is a step forward in ensuring New Yorkers can plug in and drive clean, and we commend Revel’s leadership in this regard in a major hub and in high-impact locations such as major airports.”

Revel charging stations are open to the public on a 24/7 basis for any make and model EV. All chargers installed at future locations will have speeds of at least 320 kilowatts (kW).

Read more: Dandy Mini Marts chooses Tesla to install its first EV chargers


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Hyundai is launching its all-solid-state ‘Dream’ EV battery pilot line next month

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Hyundai is launching its all-solid-state 'Dream' EV battery pilot line next month

Hyundai is set to shake up the EV market with advanced new batteries soon. In March, Hyundai will reveal its all-solid-state EV battery pilot line to the public for the first time. The “Dream” batteries promise to unlock more range, faster charging, and significantly higher energy density.

Hyundai will reveal its all-solid-state EV battery pilot line

During its 2023 CEO Investor Day, Hyundai outlined plans to become a leader in the EV battery space. Hyundai announced an investment of over $9 billion (KRW 9.5 trillion) over ten years to develop a range of batteries.

Hyundai is developing lithium-iron-phosphate (LFP), Nickel Cobalt Manganese (NCM), and all-solid-state EV batteries to cover all segments.

Last month, local reports surfaced that Hyundai was almost finished constructing an all-solid-state EV battery pilot line.

On February 9, industry sources (via ET News) said Hyundai will hold an opening ceremony in March for its next-gen battery research center in Uiwang, South Korea. Hyundai built the all-solid-state EV battery pilot line inside the new research facility.

The ceremony will mark the first time Hyundai unveils its new battery technology to the public. Several industry leaders and high-ranking officials will reportedly attend, including GM, which recently expanded its EV partnership with Hyundai.

Hyundai-all-solid-state-EV-battery
2025 Hyundai IONIQ 5 (Source: Hyundai)

Hyundai’s all-solid-state pilot line will begin full-scale production next month. Industry sources expect Hyundai will release a prototype powered by the new EV batteries by the end of 2025.

Hyundai will use the demo line to test the new battery technology. All-solid-state batteries are often referred to as the “Dream” EV battery because they have the potential to provide more range, faster charging, higher energy density, and safety than alternatives.

Hyundai-all-solid-state-EV-battery
Hyundai IONIQ 9 three-row electric SUV (Source: Hyundai)

However, they are not yet commercially available due to poor stability and manufacturing hurdles. To put it simply, it’s much easier said than done.

Hyundai aims to begin mass-producing all-solid-state batteries around 2030, with the first EVs powered by the new tech arriving shortly after.

Hyundai’s opening ceremony comes after Honda unveiled its first all-solid-state EV battery pilot line in November.

Electrek’s Take

Although a pilot line is still a small step, it can be huge for Hyundai. Like many automakers, Hyundai currently gets its batteries from others like CATL, SK On, and LG Energy Solution, but with plans to build them in-house, it could get a considerable advantage over rivals.

Based on its E-GMP platform, Hyundai already has some of the most efficient electric cars on the market, including the IONIQ 5 and IONIQ 6.

With plans to launch its more advanced “eM” platform and in-house batteries, Hyundai has a chance to drastically cut costs, speed up output, and take a leadership role as the industry shifts to electric.

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