Tech & Science Volvo wants to become a purely electric brand - Sells e-cars online
Some Texas Residents See Electric Charges Jump as Much as $14K After Winter Storm
"It would take almost all of my savings if I were to pay that bill," a North Texas resident said, after receiving a bill worth nearly $14,000 for the month of February.Among Texans who use wholesale electric providers, which fluctuates based on real-time market changes and can skyrocket during times of scarcity, some customers are seeing bills as high as $14,000.
This means that the Swedish carmaker, which belongs to the Chinese Geely Group, joins the growing number of manufacturers who are abandoning conventional gasoline or gasoline engines due to stricter climate regulations Push diesel engines. The German manufacturers Volkswagen, Daimler and BMW are also massively increasing their share of electricity, but have not yet announced a specific end date for the combustion engine. By 2025, Volvo wants to generate half of its sales with electric cars and the other half with hybrid models, in which an internal combustion engine is added to the battery drive over longer distances. Samuelsson also announced that Volvo plans to launch a new family of electric cars over the next few years that will only be sold online. The Swedes want to offer software updates over the Internet in the future, a technology in which Tesla is way ahead. Other manufacturers are also trying to imitate the US electric car maker. Volvo was one of the first traditional car manufacturers to say goodbye to the diesel engine back in 2017. At that time, the Geely subsidiary announced effectively that it would withdraw from diesel. From 2019, every new model should hit the road with either an electric or a hybrid drive. Conventional internal combustion engines should only be installed in older car models. The company justified the move with rising costs for exhaust gas purification and too high a cost for new developments. At that time, other manufacturers were still investing heavily in the further development of the compression-ignition engine, which had fallen into disrepute in 2015 when Volkswagen became aware of the millions of emissions that had been manipulated by Volkswagen. In the meantime, diesel engines are on the decline in Europe, but new registrations of electric cars are increasing rapidly. More and more countries are pushing manufacturers to switch to emission-free drives. In a few years' time, some states no longer want to allow cars with fossil fuels. This increases the pressure on manufacturers. More and more manufacturers are announcing the exit from the combustion engine: Ford wants to convert its vehicle range in Europe completely to electric cars by 2030. The US rival GM does not want to build any more cars with gasoline or diesel engines from 2035. Luxury brands such as the manufacturer Jaguar Land Rover, which belongs to the Indian Tata Group, and the VW subsidiary Bentley have set themselves similar goals. Volkswagen wants to launch the last combustion engine platform in 2026. It is therefore foreseeable that the internal combustion engine will also expire at the Wolfsburg-based company in the middle of the next decade. The industry is investing billions in the transformation and has to cut staff because less work is involved in building electric motors than in combustion engines. This potentially increases conflicts with the trade unions. Car makers are banding together to spread the cost across multiple shoulders. rtr
General Electric share collapses: General Electric wants to merge shares .
The US company General Electric is planning to merge its shares. © Provided by Finances.net Andrew Burton / Getty Images The board of directors will propose a reverse stock split to the shareholders in the ratio of one to eight, announced the General Electric Co. (GE). This means that every eight GE shares held will become one in the future.