Nissan juggles reduced ICE volumes on path to U.S. EV future
EV production in Canton. Miss., is twice delayed. Output not expected to begin until November 2026, according to a supplier memo.
New study calculates climate change’s economic bite will hit about $38 trillion a year by 2049
By SETH BORENSTEIN (AP Science Writer)
Climate change will reduce future global income by about 19% in the next 25 years compared to a fictional world that’s not warming, with the poorest areas and those least responsible for heating the atmosphere taking the biggest monetary hit, a new study said.
Climate change’s economic bite in how much people make is already locked in at about $38 trillion a year by 2049, according to Wednesday’s study in the journal Nature by researchers at Germany’s Potsdam Institute for Climate Impact Research. By 2100 the financial cost could hit twice what previous studies estimate.
“Our analysis shows that climate change will cause massive economic damages within the next 25 years in almost all countries around the world, also in highly-developed ones such as Germany and the U.S., with a projected median income reduction of 11% each and France with 13%,” said study co-author Leonie Wenz, a climate scientist and economist.
These damages are compared to a baseline of no climate change and are then applied against overall expected global growth in gross domestic product, said study lead author Max Kotz, a climate scientist. So while it’s 19% globally less than it could have been with no climate change, in most places, income will still grow, just not as much because of warmer temperatures.
Toyota recalls 2023-24 Prius to fix rear door switches
Toyota will recall about 55,000 2023-24 Prius and Prius Prime models in the U.S. beginning in June.
SpaceX tallies 1st of 2 launches over 2 days from Space Coast
SpaceX on Wednesday sent up the first of a pair of Space Coast rockets slated for launch over two days, both carrying batches of the company’s Starlink satellites.
A Falcon 9 rocket carrying 23 of the internet satellites for SpaceX’s growing constellation lifted off at 5:26 p.m. from Kennedy Space Center’s Launch Pad 39-A amid clear blue skies.
Merlin engine ignition and liftoff of Falcon 9! pic.twitter.com/GVID9qsdUk
— SpaceX (@SpaceX) April 17, 2024
It was the 12th flight of the first-stage booster that SpaceX said made a successful recovery landing downrange in the Atlantic on the droneship Just Read the Instructions, although the feed of the live launch by SpaceX cut out about four minutes after liftoff.
This was the 28th launch from the Space Coast in 2024, with launch No. 29 targeting Thursday evening from neighboring Cape Canaveral Space Force Station.
Another Falcon 9 carrying more Starlink satellites is aiming for liftoff during four-hour window from 6:40-10:40 p.m. at Canaveral’s Space Launch Complex 40 with a backup window Friday from 6:14-10:14 p.m.
Tesla asks shareholders to restore $56B Elon Musk pay package that was voided by Delaware judge
By TOM KRISHER, STAN CHOE and MICHELLE CHAPMAN (AP Business Writers)
DETROIT (AP) — Tesla is asking shareholders to restore a $56 billion pay package for CEO Elon Musk that was rejected by a Delaware judge this year, and to shift the company’s corporate home to Texas.
The changes, to be voted on by stockholders at a June 13 annual meeting, could be a tougher sell than when it was first approved in 2018. The Austin, Texas, electric vehicle maker is struggling with falling global sales, slowing electric vehicle demand, an aging model lineup and a stock price that has tumbled 37% so far this year.
In January, Chancellor Kathaleen St. Jude McCormick ruled that Musk is not entitled to the landmark stock compensation that was to be granted over 10 years.
Ruling on a lawsuit from a shareholder, she voided the pay package, saying that Musk essentially controlled the board, making the process of enacting the compensation unfair to stakeholders. “Musk had extensive ties with the persons tasked with negotiating on Tesla’s behalf,” she wrote in her ruling.