EV maker Polestar (PSNY) is looking for new partners in an effort to boost electric vehicle adoption and decarbonize the auto industry’s supply chain.
Electrification alone will not be enough
Polestar is emerging as a pioneer in the fight against climate change. After delivering over 51,000 vehicles last year, Polestar looks to keep the momentum going, forecasting between 16% to 46% YOY growth in 2023.
However, it isn’t all about growth for Polestar. It’s more about consumption. Despite vehicle sales climbing from just over 10,000 to over 51,000 since 2020, Polestar managed to reduce relative emissions on a per-vehicle basis by 13%.
To advance its mission of achieving a sustainable future, Polestar is developing a completely climate-neutral EV by 2030 in the Polestar 0 project, including all phases of the car’s life cycle and charging.
Polestar’s head of sustainability, Fredrika Klaren, explains electrification alone is not enough. More needs to be done to reduce carbon emissions in the auto industry, as Klaren said:
Electrification alone is not enough and pure EV-makers like Polestar have a lot of work ahead of us. Our focus remains unchanged as we double down on cutting emissions in our supply chain.
The EV maker is working to eliminate all emissions from its supply chain, manufacturing processes, and end-of-life without relying on common offset methods. To do so, Polestar is taking several actions, including:
Improving resource efficiency and circularity.
Using materials that have the potential to have a fully decarbonized supply chain.
Working to reduce GHG emissions from all phases of the vehicle’s life cycle, including material production, battery modules, manufacturing, and charging.
Using renewable energy sources. For example, the building where the Polestar 2 is built now runs on 100% clean energy sources.
A significant portion of Polestar’s mission involves partnering with those in other sectors to reduce emissions further, limit the effects of climate change, and promote EV adoption.
Polestar looks for partners to promote EVs, climate change
At the Reuters Automotive Conference in Munich, Polestar’s chief operating officer, Dennis Nobelius, explained the EV maker was looking to collaborate, saying:
If we align with partners and say this is how we decarbonise the supply chain… we can make an impact… we would like to team up.
Polestar and fellow EV startup Rivian backed the “Pathway Report” earlier this year, saying the auto industry is on track to overshoot the Intergovernmental Panel on Climate Change’s (IPPC) pathway by at least 75% by 2050 and calling for the entire industry to collaborate to get back on track.
Nobellius added that automakers, suppliers, and other partners must work together to promote traceability in the supply chains, establish a greener grid, and track battery health.
Furthermore, Nobellius said that to succeed in the quickly expanding EV market, adapting to new technology will be key, pointing to battery cell tech.
Polestar revealed its decision to stop exporting EVs made in China in favor of them being made in the US in 2024 was partly due to its efforts to lower its carbon footprint (as well as shielding itself from geopolitical tension). The EV maker’s COO continued:
We’ll produce in China for China and in South Carolina for the rest of the world. That means more investment but less carbon footprint and increased robustness.
Polestar aims for all cars that roll out of its factory to be climate neutral by 2040.
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The cooling towers of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Power companies that are most exposed to the tech sector’s data center boom plunged early Monday, as the debut of China’s DeepSeek open source AI laboratory led investors to question how much energy artificial intelligence applications will actually consume.
Constellation, Vistra and GE Vernova have led the S&P 500 this year as investors speculated that AI data centers will boost demand for enormous amounts of electricity.
But DeepSeek has developed a model that it claims is cheaper and more efficient than U.S competitors, raising doubts about the vast sums of money the tech sector is pouring in to data centers.
The tech companies have anticipated needing so much electricity to supply data centers that they have increasingly looked to nuclear power as a source of reliable, carbon-free energy.
Constellation, for example, has signed a power agreement with Microsoft to restart the Three Mile Island nuclear plant outside Harrisburg, Pennsylvania. Talen is powering an Amazon data center with electricity from the nearby Susquehanna nuclear plant.
Vistra has not inked a data center deal yet, though investors see promise in its nuclear and natural gas assets. GE Vernova has soared this year as the market believes its gas and electric grid businesses will benefit from AI demand.
This is a developing story. Please check back for updates.
Executives from TravelCenters America (TA) and BP were joined by local elected officials at a ribbon cutting for the two companies’ first DC fast charging hub on I-95 in Jacksonville, Florida – the first of several such EV charging stations to come online.
Frequent road-trippers are no doubt familiar with TA’s red, white, and blue logo and probably think of the sites as safe, convenient stops in otherwise unfamiliar surroundings. The company hopes those positive associations will carry over as its customers continue to switch from gas to electric at a record pace in 2025 and beyond.
“Today marks a significant milestone in our journey to bring new forms of energy to our customers as we support their changing mobility needs, while leveraging the best of bp and TA,” explains Debi Boffa, CEO of TravelCenters of America. Boffa, however, was quick to – but TA is quick to point out that TA isn’ no’t leaving its ICE customers behind. “While this is significant, to our loyal customers and guests, rest assured TA will continue to provide the same safe and reliable fueling options it has offered for over 50 years, regardless of the type of fuel.”
The charging hub along the I-95 offers 12 DC fast charging ports offering up to 400kW of power for lickety-quick charging. While they’re at the TA, EV drivers can visit restrooms, shop at TA’s convenience store, or eat at fast food chains like Popeyes and Subway. Other TA centers offer wifi and pet-friendly amenities as well – making them ideal partners for BP as the two companies builds out their charging networks.
“As we expand our EV charging network in the US, I am thrilled to unveil our first of many hubs at TA locations,” offers Sujay Sharma, CEO of BP Pulse Americas. “These sites are strategically located across key highway corridors that provide our customers with en route charging when and where they need it most, while offering convenient amenities, like restaurants and restrooms.”
The new e2500-THL and TS electric Ultra Buggies from Toro offer construction and demo crews a carrying capacity of 2500 lbs. (on the TS model), six-and-a-half foot dump height (on the THL), nearly 13 cubic ft. of capacity, and hours of quiet, fume-free operation.
For their open-mindedness, those crews will be rewarded with machines powered by 7 kWh’s worth of Toro HyperCell lithium-ion battery. That’s good enough for up to eight hours of continuous operation, according to Toro – enough for two typical working shifts.
And, thanks to the Toro Ultra Buggies’ narrow, 31.5″ width, they can easily navigate man doors on inside jobs, as well, making them ideal for indoor demolition and construction jobs. A zero-turn radius and auto-return dump mechanism that ensures the tub automatically returns to the proper resting position make things easy for the operator, too.
Toro says that each of its small (for Toro) e2500 Ultra Buggy units can replace as many as five wheelbarrows on a given job site. Pricing is expected to start at about $32,000.