GM CEO Mary Barra backs away from 1 million EV production goal
GM originally set a goal of having production capabilities in place for a million EVs, but said it could only sell that many if the market materializes.
Penske Automotive buys Bill Brown Ford, the world's largest Ford dealership
Penske said it estimates the suburban Detroit dealership, founded in 1941 by the Brown family, will add $550 million in annual revenue. The dealership’s name will stay the same.
Duke Energy rate settlement reached but still needs state approval
TALLAHASSEE — Duke Energy Florida and consumer representatives Monday filed a proposed settlement that would increase base electric rates — but not as much as Duke originally sought.
The proposal, which needs approval from the state Public Service Commission, would increase base rates by $203 million in 2025 and $59 million in 2026 and includes increases over a three-year period for solar-energy projects, according to a filing at the commission and a Duke news release.
Duke reached the agreement with the state Office of Public Counsel, which represents consumers in utility issues, and other parties in the rate case — the Florida Retail Federation, the Florida Industrial Power Users Group, Nucor Steel Florida, Inc. and PCS Phosphate-White Springs.
“This agreement delivers the smarter, cleaner energy future customers deserve while prioritizing reliability and price stability,” Melissa Seixas, Duke Energy Florida state president, said in a prepared statement.
The parties said in a regulatory filing last week that they were close to reaching an agreement. They asked the commission Monday to consider the settlement in August, when regulators had been scheduled to hold a hearing on Duke’s original proposal.
Coastal dealers talk insurance costs, hurricane preparation know-how
NOAA expects a more active Atlantic hurricane season. Dealers, already wary of higher insurance cost,s are monitoring it.
Lucid Air retakes EV efficiency crown with 2025 model, beating Hyundai Ioniq 6
By adding a heat pump to save energy on heating and cooling, the Air Pure breaks a key threshold by traveling 5 miles per kilowatt-hour in EPA testing.