A cyclist passes oil silos at the Royal Dutch Shell Pernis refinery in Rotterdam, Netherlands, on Tuesday, April 27, 2021.
Peter Boer | Bloomberg | Getty Images
LONDON — A Dutch court on Wednesday ruled oil giant Royal Dutch Shell must reduce its carbon emissions by 45% by 2030 from 2019 levels.
That’s a much higher reduction than the company’s current aim of lowering its emissions by 20% by 2030.
The landmark ruling comes at a time when the world’s largest corporate emitters are under immense pressure to set short, medium and long-term emissions targets that are consistent with the Paris Agreement. The climate accord is widely recognized as critically important to avoid an irreversible climate crisis.
Shell’s current climate strategy states that the company is aiming to become a net-zero emissions business by 2050, with the company setting a target of cutting its CO2 emissions by 45% by 2035.
A spokesperson for Shell said the company “fully expect to appeal today’s disappointing court decision.”
“We are investing billions of dollars in low-carbon energy, including electric vehicle charging, hydrogen, renewables and biofuels,” the spokesperson said via email. “We want to grow demand for these products and scale up our new energy businesses even more quickly.”
Shares of Shell were trading 0.2% higher in London. The stock price is up almost 10% year-to-date, having tumbled nearly 40% in 2020.
‘A turning point in history’
The lawsuit was filed in April 2019 by seven activist groups — including Friends of the Earth and Greenpeace — on behalf of 17,200 Dutch citizens. Court summons claimed Shell‘s business model “is endangering human rights and lives” by posing a threat to the goals laid out in the Paris Agreement.
Under the Paris Agreement — a deal adopted in 2015 and signed by 195 countries — nations agreed to a framework to prevent global temperatures from rising by any more than 2 degrees Celsius, although the accord aims to prevent global temperature rises exceeding 1.5 degrees Celsius.
Roger Cox, a lawyer for environmental activists in the case, said in a statement that the ruling marked “a turning point in history” and could have major consequences for other big polluters.
Meanwhile, Sara Shaw, Friends of the Earth’s international program coordinator for climate justice and energy, said the organization hoped the verdict would “trigger a wave of climate litigation against big polluters to force them to stop extracting and burning fossil fuels.”
Mark van Baal, founder of Dutch group Follow This, told CNBC via email that the judge’s ruling shows “Big Oil can no longer dismiss the crucial role it has to play in the fight against climate change.”
At Shell’s annual general meeting last week, shareholders voted overwhelmingly in favor of the company’s energy transition plans — but, crucially, a growing minority rejected the strategy, insisting the oil giant needed to do much more in the fight against climate change.
Activist investor Follow This said at the time that the result was likely to mean Shell would have to revise its climate targets once again.
According to Reuters, the case is the first in which activists have taken a major energy firm to court to compel it to overhaul its climate strategy.
Robotaxi developer Zoox has cut the ribbon on the first serial production facility for purpose-built robotaxi vehicles in the United States. This new cutting-edge facility will be able to assemble thousands of Zoox’s unique autonomous vehicles each year as its commercial services expand.
Zoox is a California-based Robotaxi developer that continues to expand its network of test vehicles to make way for the rollout of its unique purpose-built vehicle, unlike anything else on the roads.
While much of Zoox’s current test fleet consists of existing vehicles retrofitted with sensors and cameras, Zoox has designed and delivered an entirely purpose-built EV without pedals or a steering wheel. We’ve seen those Robotaxis roll off Zoox’s existing production line in Fremont, California, before hitting Bay Area and Las Vegas roads.
Today, Zoox officially opened a second production facility closer to its California headquarters. This facility will house dedicated assembly lines for its bespoke robotaxis. Zoox’s latest video, which you can view below, provides an in-depth look at those new production lines.
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Source: Zoox
Zoox moves Robotaxi production to new CA facility
This morning, Zoox shared an exciting look at its new production facility, which was described as a “first of its kind” for purpose-built robotaxi assembly in the US. Per Zoox, the 220,000 square-foot plant is located in Hayward, California, and consists of one assembly line which, at full scale, can produce 10,000 robotaxis per year.
In addition to serial production, Zoox’s second facility will house robotaxi engineering, software and hardware integration, component storage, shipping and receiving, plus the end-of-line testing required before any vehicles are deployed.
Zoox made efforts to ensure its new state-of-the-art plant was sustainable and based in the US to create an environment in which autonomous robots and humans work side by side to build fully autonomous robotaxis. Per Zoox:
Constructing a state-of-the-art facility also provided an opportunity to showcase our values at Zoox. The facility is situated near our Foster City headquarters, fostering collaboration between engineers and other teams. Zoox owns, operates, and assembles these purpose-built robotaxis, giving the company oversight of the entire process end-to-end and the opportunity to flex the production depending on expansion and market demand. As the robotaxi design advances, the facility’s unique layout and building equipment will be able to accommodate these future changes and features.
In an assembly facility focused on building autonomous robots, our Zoox crew remains an essential part of the manufacturing process. Robots on the floor are primarily used for specific tasks, such as applying adhesive for glass installation (which requires precision to avoid leaks and smudges) and transporting the robotaxi down the assembly line, ensuring a smooth and efficient workflow. The rest is done manually.
Zoox shared that its initial facility in the Bay Area has been repurposed into a dedicated facility for its retrofitted test fleet and sensor pod configuration. While production of the purpose-built robotaxis is exciting to see, much of Zoox’s US operations revolve around the retrofits for now.
Zoox has said that paid robotaxi rides to the public will begin in Las Vegas soon, followed by San Francisco. Other cities like Austin and Miami will join, but not for a few years. Meanwhile, Zoox continues testing other areas such as Los Angeles and, most recently, Atlanta.
In the meantime, Zoox provided a look at the assembly of its purpose-built robotaxi vehicles before they make their way out into the real world. Check it out:
Source: Zoox
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Federal prosecutors filed a civil forfeiture action targeting more than $225 million in cryptocurrency traced to a sprawling web of fraudulent investment platforms. Victims were tricked into believing they were investing in legitimate crypto ventures, only to be scammed by criminal networks often operating overseas.
“This seizure of $225.3 million in funds linked to cryptocurrency investment scams marks the largest cryptocurrency seizure in U.S. Secret Service history,” said Shawn Bradstreet, special agent in charge of the U.S. Secret Service’s San Francisco Field Office, in a statement.
Authorities said the network was connected to at least 400 suspected victims worldwide, including dozens in the U.S. Crypto fraud was responsible for more than $5.8 billion in reported losses last year, according to FBI data.
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The seized funds are now subject to forfeiture proceedings aimed at eventually returning money to victims.
The U.S. Secret Service and FBI used blockchain analysis and other tools to trace the cryptocurrency back to stolen assets. The DOJ credited Tether, the world’s largest stablecoin issuer, for assisting in the operation.
According to the complaint, the funds were linked to the theft and laundering of money from victims of cryptocurrency investment fraud schemes, commonly known as confidence scams that often involve romance.
The network relied on hundreds of thousands of transactions to obscure the origin of the funds, using sophisticated blockchain maneuvers to conceal the flow of stolen assets.
Starting at under $10,000, the Seagull is the most affordable EV BYD offers in China. It’s also the company’s best seller. In just over two years, BYD has sold over 1 million Seagull EV models. Now, it’s rolling out to new global markets.
BYD Seagull EV sales surpass the 1 million mark
BYD officially launched its low-cost electric car in April 2023, with deliveries kicking off the following month. In just 25 months, BYD Seagull sales surpassed 1 million.
The Seagull went back and forth with the Tesla Model Y for a few months in 2024 as the best-selling EV in China. In November, it outsold every car in China, including gas-powered vehicles.
After selling an additional 60,131 Seagull models in May, BYD announced that its cumulative sales had reached nearly 993,000.
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With just over 7,000 models to go, we knew the milestone was coming soon. During a launch event for its new Seal 06 EV on June 6, BYD officially announced that Seagull EV sales reached 1 million.
The Seagull typically starts at 69,800 yuan, or about $9,300. However, after slashing prices last month, the low-cost EV now starts at just 55,800 yuan ($7,800).
BYD Seagull EV testing with God’s Eye C smart driving system (Source: BYD)
It’s available in three trims: Vitality, Freedom, and Flying. Two battery options are offered, 30.1 kWh and 38.9 kWh, which provide a CLTC range of 305 km (190 mi) and 405 km (252 mi), respectively.
BYD claimed that the Seagull opened “a new era of electricity being lower than oil” after launching the new model in 2024.
Earlier this year, BYD upgraded most of its lineup at no extra cost, including the Seagull EV, with its new “God’s Eye” smart driving system.
The Seagull measures 3,780 mm in length, 1,715 mm in width, and 1,540 mm in height, which is even smaller than the outgoing Chevy Bolt EV and VW ID.3. It’s closer in size to the Fiat 500e.
BYD Dolphin Surf EV for Europe (Source: BYD)
In Europe and the UK, BYD launched the Seagull EV under the name Dolphin Surf. It’s slightly bigger (+210 mm in length) and more powerful than the Chinese variant.
Although it’s not quite $10,000, prices start at just £18,650 (just over $25,000) in the UK, which is still one of the most affordable options. BYD’s base Dolphin Surf “Active” has a WLTP range of 203 miles. An extended-range “Boost” trim is available with a range of up to 305 miles (507 km). It starts at £21,950 ($30,000).
Electrek’s Take
The Seagull has been a huge part of BYD’s success over the past few years. It’s already rolling out in overseas markets, such as Brazil and Mexico, under the name Dolphin Mini.
The Dolphin Surf’s arrival is only expected to accelerate BYD’s momentum going into the end of the year. Although BYD is best known for its ultra-affordable EVs, like the Seagull (or Dolphin Surf), it’s rapidly expanding its lineup with new luxury vehicles, entry-level models, mid-size SUVs, and electric supercars.
One thing is certain: BYD will be a name to continue to watch closely over the next few years as the industry shifts to electric.
BYD’s commitment to ending production of vehicles powered entirely by gas engines in 2022 is quickly paying dividends.