Environment

Op-ed: The day the climate crisis came home

Published

4 years ago

September 10, 2021

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Streetlights, headlights, and apartments with lights on around noon on Sept. 9, 2020, in Russian Hill, San Francisco.

Christina Farr | CNBC

One year ago today was the most terrifying day of my life.

I’ve faced personal tragedies and professional setbacks, but there are templates to deal with those. You rely on friends and family, you nurse your grief and anger, you seek counseling. With any luck and a lot of hard work, you heal and you move on.

But the day the sky turned orange in San Francisco from widespread wildfire smoke was a different kind of tragedy, precisely because it wasn’t personal — it was communal. It affected all of us. Nobody could help. Everybody was equally freaked out. We had been breathing wildfire smoke for about three weeks, and all I could think about was how long this new phase, this deep-orange darkness, would last. A day? A week? Three weeks? We were already locked down at home from the Covid pandemic, with the kids out of school and most businesses closed. The added feeling of isolation from this new phase was almost too much to bear.

Those of us who are old enough might remember a brief window in the 1990s when it seemed like the environmental movement was ascendant. Politicians and corporations were paying attention. The entire world banned chlorofluorocarbons in less than a couple years after it became clear they were depleting the ozone layer, exposing us to more solar radiation. The ozone layer is now recovering.

But that moment faded, replaced by the urgency of the War on Terror and the gridlock of hardcore partisan politics, along with a global economic expansion that has lifted hundreds of millions of people out of poverty and into the middle class.

That global economic expansion has been fueled by cheap fossil fuels and accompanied by a dramatic rise in greenhouse gas emissions. This year’s report from the United Nations’ Intergovernmental Panel on Climate Change, released in August, shows the picture very starkly. We are currently averaging 410 parts-per-million of CO2 in the atmosphere — well above the 382ppm figure that Al Gore used in his famous chart of CO2 concentrations in the 2006 movie, “An Inconvenient Truth.”

The wildfires in the west aren’t caused entirely by climate change — fires have always been part of the landscape, and forest management practices have definitely played a part. But so did two decades of record heat and a drought that has killed millions of trees. Today’s fires burn hotter and spread faster than any in recent memory, according to scientists and firefighters.

Climate change has been hard for most of us to see and feel. That’s beginning to change. This year’s continuous parade of extreme weather events — floods, hurricanes and wildfires — is a foretelling of what the world faces. If you haven’t faced your orange day yet, chances are you will.

The positive side of all this: More people than ever before are committed to finding solutions. Personally, the orange day in San Francisco inspired me to shift some of my attention from the tech industry, which I’ve been covering for more than 25 years, to focus on what I believe will be the most important news story of the next few decades.

Similar events are inspiring people to take action all over the world.

Many are advocating for major political changes, and the upcoming COP26 conference in Glasgow will almost certainly be a lightning rod for protests.

But while political solutions are a necessary part of the puzzle, those changes can be reversed or their impact blunted by the next election cycle.

More excitingly, the business world is finally, belatedly climbing aboard. Venture capitalists and billionaires like Bill Gates and Tom Steyer are racing to fund start-ups dealing with everything from clean energy to agriculture to transportation. Companies are boasting about their plans for reaching net-zero carbon emissions. Banks and insurance companies are quietly acknowledging the risks associated with climate change and adjusting their practices accordingly. ESG funds with a strong emphasis on green solutions are immensely popular — although not always effective. Tesla, the biggest auto company in the world by market cap, pioneered making zero-emission electric vehicles at scale, sending the auto giants and dozens of scrappy start-ups to follow as fast as they can.

At CNBC, we intend to cover the climate crisis from a business news perspective. We know what the predictions say could happen 20, 50 and 100 years into the future — but what’s happening today? How is climate change affecting businesses and individuals right now? Who’s proposing ambitious new solutions to reduce carbon emissions and suck carbon out of the atmosphere, who’s funding those solutions, and what are their chances of success? How are companies preparing for an uncertain future? What can you do to prepare yourself and your family — financially, physically, and mentally?

Pledges are less important than action. Rather than focusing on what companies say they intend to do, we’ll focus on what they are actually doing, where they are actually spending money and whether that money is doing any good — or is simply a half-hearted attempt to garner some positive press. Greenwashing is rampant, and ripe for exposure. We’ll look closely at trends like ESG investing and carbon offsets to explain how they work — or don’t work — and talk to policy experts about alternative financial solutions that could be more effective. We’ll treat every start-ups claims with the same kind of cautious “show-me” skepticism we’ve learned to adopt through collective decades of experience covering the tech industry.

There are no magic bullets. The carbon we’ve already pumped into the atmosphere is not going away any time soon, and the effects will probably get worse before they get better. The political, cultural and psychological barriers to change are a huge challenge — nobody likes being told to consume less. Nobody likes being told they must suddenly revamp their business at great expense with no guarantee of higher future profits. Investors will continue to seek returns, as they always have.

But as the world wakes up to the reality of climate change, there’s more money flowing toward the problem than ever before. Collective human ambition and the desire to improve our condition got us into this mess. They’re necessary to get us out.

Environment

Global EV sales jump 21% in 2025 as Europe surges and the US stalls

Published

8 hours ago

December 12, 2025

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Global EV sales jump 21% in 2025 as Europe surges and the US stalls

EV and battery supply chain research specialists Benchmark Mineral Intelligence reports that 2.0 million electric vehicles were sold globally in November 2025, bringing global EV sales to 18.5 million units year-to-date. That’s a 21% increase compared to the same period in 2024.

Europe was the clear growth leader in November, while North America continued to lag following the expiration of US EV tax credits. China, meanwhile, remains the world’s largest EV market by a wide margin.

Europe leads global growth

Europe’s EV market jumped 36% year-over-year in November 2025, with BEV sales up 35% and plug-in hybrid (PHEV) sales rising 39%. That brings Europe’s total EV sales to 3.8 million units for the year so far, up 33% compared to January–November 2024.

France finally returned to year-to-date growth in November, edging up 1% after spending most of 2025 in the red following earlier subsidy cuts. The rebound was led by OEMs such as the Volkswagen Group and Renault, a wider selection of EV models, and France’s “leasing social” program, aimed at helping lower-income households switch to EVs.

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Italy also posted a standout month, logging record EV sales of just under 25,000 units in November. The surge followed the launch of a new incentive program designed to replace older ICE vehicles. The program earmarks €597.3 million (about $700 million) in funding for the replacement of around 39,000 gas cars.

The UK expanded access to its full £3,750 ($4,400) EV subsidy by adding five more eligible models: the Nissan Leaf (built in Sunderland, with deliveries starting in early 2026), the MINI Countryman, Renault 4, Renault 5, and Alpine A290.

US market slows after federal tax credit’s premature death

In North America, EV sales in the US did tick up month-over-month in November, following a sharp October drop after federal tax credits expired on September 30, 2025. Brands including Kia (up 30%), Hyundai (up 20%), Honda (up 11%), and Subaru (232 Solterra sales versus just 13 the month before) all saw gains, but overall volumes remain below levels when the federal tax credit was still available.

Policy changes aren’t helping. In early December, Trump formally “reset” US Corporate Average Fuel Economy (CAFE) standards, lowering the required fleetwide average to about 34.5 mpg by 2031. That’s a steep drop from the roughly 50.4 mpg target under the previous rule. Automakers can now meet the standard largely through gas vehicles, reducing pressure to scale BEVs and PHEVs.

Those loosened rules are already reflected in investment decisions, such as Stellantis’ $13 billion plan to expand US production by 50%, with a heavy focus on ICE vehicles. Earlier this year, Trump’s big bill set fines for missing CAFE targets to $0, further weakening the incentive for OEMs to electrify.

That’s some foolish policymaking, considering the world reached peak gas car sales in 2017. The US under Trump will be left behind, just as it will be with its attempts to revive the coal industry.

China still dominates, exports surge

China remains the backbone of global EV sales, even as growth slows. The Chinese market grew 3% year-over-year and 4% month-over-month in November. Year-to-date, EV sales in China are up 19%, with 11.6 million units sold.

One of the biggest headlines out of China is exports. BYD reported a record 131,935 EV exports in November, blowing past its previous high of around 90,000 units set in June. BYD sales in Europe have jumped more than fourfold this year to around 200,000 vehicles, doubled in Southeast Asia, and climbed by more than 50% in South America.

Global snapshot

Global EV sales from January to November 2025 vs January to November 2024, YTD %:

Global: 18.5 million, +21%
China: 11.6 million, +19%
Europe: 3.8 million, +33%
North America: 1.7 million, -1%
Rest of World: 1.5 million, +48%

The takeaway: EV demand continues to grow worldwide, but policy support – or the lack thereof – is increasingly shaping where this growth shows up.

“Overall, EV demand remains resilient, supported by expanding model ranges and sustained policy incentives worldwide,” said Rho Motion data manager Charles Lester.

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Environment

Hyundai’s new midsize electric SUV spotted overseas for the first time

Published

9 hours ago

December 11, 2025

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Hyundai's new midsize electric SUV spotted overseas for the first time

The Elexio is Hyundai’s first electric SUV custom-tailored for the Chinese market, but now it’s headed overseas.

Hyundai is bringing the Elexio electric SUV overseas

Hyundai’s midsize electric SUV was spotted on a carrier truck in Melbourne, Australia, alongside a few of its other vehicles.

Although the Elexio is built by Hyundai’s joint venture with BAIC Motor, Beijing-Hyundai, “tailor-made for Chinese consumers,” we had a feeling it would be sold overseas.

A few months ago, Don Romano, CEO of Hyundai Australia, hinted that the midsize electric SUV could arrive in The Land Down Under. Romano told journalists during an IONIQ 9 launch event that the Elexio’s launch in Australia was “under evaluation,” calling it “a promising vehicle.”

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Hyundai confirmed the rumors shortly after, saying the new midsize electric SUV would launch in Australia in early 2026.

According to CarsGuide, the Elexio was caught on a car carrier in Melbourne on Wednesday morning ahead of its official launch.

Powered by an 88.1 kWh battery, the Elexio delivers up to nearly 450 miles (722 km) CLTC range. It’s based on the E-GMP platform, which underpins all IONIQ models and Kia’s EV lineup, with single and dual-motor (AWD) powertrain options. The electric SUV can also recharge from 30% to 80% in about 27 minutes.

The interior is packed with advanced Chinese tech, including Huawei’s advanced driver-assistance systems (ADAS) and a Qualcomm Snapdragon 8295 chip that powers the massive 27″ 4K widescreen display.

The Elexio is 4,615 mm long, 1,875 mm wide, and 1,698 mm tall, with a wheelbase of 2,750 mm, which is a bit shorter than the Tesla Model Y. It’s closer in size to the BYD Yuan Plus, sold overseas as the Atto 3.

Hyundai’s midsize electric SUV is expected to compete with some of Australia’s top-selling EVs, including the Tesla Model Y and Geely EX5.

Hyundai-Elexio-electric-SUV — The Hyundai Elexio electric SUV (Source: Beijing Hyundai)

Prices have yet to be announced, but given the IONIQ 5 starts at $76,200 (AUD), before on-road costs, the Elexio should be slightly cheaper.

In China, the Elexio is available in three trims: Fun, Smart, or Tech, with pre-sale prices starting at RMB 119,800 ($16,900).

Although the electric SUV is launching in Australia and possibly other overseas markets like New Zealand, it’s not expected to be a true global vehicle. Hyundai designed it specifically for Chinese buyers, leveraging local tech and design elements.

For those in the US, if you’re looking for a midsize electric SUV, the IONIQ 5 is worth a look with 300+ miles of range, fast charging, and a spacious, tech-filled interior. With leases starting at just $189 a month, the IONIQ 5 is cheaper than most gas-powered cars in its class. You can use our link to find the Hyundai IONIQ 5 models closest to you.

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Environment

Iron-sodium grid batteries just took a big step toward US rollout

Published

10 hours ago

December 11, 2025

admin

Iron-sodium grid batteries just took a big step toward US rollout

Iron-sodium battery makers Inlyte Energy just crossed an important line from lab to grid reality. The company has completed a factory acceptance test of its first field-ready iron-sodium battery energy storage system with reps from a major US utility in attendance.

Iron-sodium battery storage

The test took place at Inlyte’s facility near Derby in the UK, and was witnessed by representatives from Southern Company, one of the largest electric utilities in the US. The goal was to prove the performance and integration readiness of the whole system, which combines sodium metal chloride battery cells with inverters and control electronics. By Inlyte’s account, the system performed as expected and is ready for field deployment.

The energy storage market is growing fast, and utilities are looking beyond lithium‑ion. Iron-sodium battery storage systems are emerging as a compelling alternative to lithium-ion batteries for grid-scale use, as they rely on abundant, low-cost materials and offer strong safety and long-duration performance.

While lithium-ion batteries excel at fast response and short-to-medium-duration storage, iron-sodium systems are better suited for multi-hour to multi-day grid applications where cost, thermal stability, and long service life matter more than energy density.

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The global energy storage market is projected to grow from approximately $70 billion in 2025 to over $150 billion by 2030. The US Department of Energy estimates the grid will need more than 225 gigawatts of long‑duration energy storage by 2050.

Inlyte is betting that iron‑sodium batteries can help fill that gap. The system tested in the UK utilizes what the company claims are the world’s largest sodium metal chloride battery cells and modules ever built, each capable of storing more than 300 kilowatt-hours of energy. The chemistry is designed to be lower-cost, safer, and longer-lasting than lithium-ion – key traits for grid-scale storage.

During the factory test, Inlyte’s battery system hit 83% round‑trip efficiency, including auxiliary loads. That puts it in the same range as high-performance lithium-ion systems and well above the roughly 40% to 70% efficiency typical of many other long-duration energy storage technologies. Southern Company’s R&D team observed the test in person, a step that helps clear the way for real‑world deployment.

The commercial plan

Next up: the field. Inlyte says its first energy storage systems will be installed at Southern Company’s Energy Storage Test Site in Wilsonville, Alabama, in early 2026. Those deployments will allow the utility to study how the iron‑sodium batteries perform under real grid conditions.

With technical readiness now demonstrated, Inlyte is turning its focus to US manufacturing. The company plans to finalize a site for its first domestic factory in 2026. To help speed that process, Inlyte has partnered with HORIEN Salt Battery Solutions, the world’s largest producer of sodium metal chloride batteries. HORIEN brings over 25 years of commercial experience across applications like critical power, remote industrial sites, and battery energy storage.

The plan is to combine HORIEN’s manufacturing know‑how with Inlyte’s system integration work to bring sodium‑based grid batteries to the US market. If all goes according to plan, Inlyte expects commercial deliveries of domestically produced systems to begin in 2027.

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