Plagued by Recall Issues, GM Sells Only 26 EVs In Q4

CA budget proposal adds $22bn to last yr's $15 bn to focus on climate, w/ emphasis on disadvantaged communities; EPRI says grid must expand 3x to meet Biden Admin climate goals; Investigators at Stanford and DOE find way to extend li-ion battery life by up to one-third; GM EV quarter a major mis-fire, w/only 26 EVs sold; initial US EV sales estimates for 2021 at 647,000, up 103% YOY; China crushes that number, at 3.3 mn EVs in 2021; U.S. to auction almost 500,000 acres offshore fo NY and NJ, to host est'd 5.6 - 7 GW of offshore wind; Canadian compressed air storage company Hydrostor nets $250 mn investment from Goldman Sachs

1) CA earmarks $22 bn in budget (added to $15bn from last yr) to address climate change, w/focus on LMI and disadvantaged communities.

2) EPRI says we'll have to triple grid capability in order to address Biden Admin's carbon reduction goals, going from meeting 20% of total overall U.S. energy needs to about 60% by 2050.

3) Researchers at Stanford & DOE's SLAC National Accelerator Laboratory discover method to extend life of li-ion batteries by as much as a third.

4) GM's EV business suffers rough quarter, owing to impacts of massive Bolt recall, and sell only 26 EVs.

5) 2021 US EV sales (pure electrics and PHEVs) estimated at 647,000 up 103% over 2020 approx 4.3% of 15 million total light vehicles sold. Tesla accounted for over half.

6) China EV sales rocket to 3.3 million pure EVs and hybrid plug-ins, w/mkt share of 15.7% of vehicles sold in the country. Of that number, Tesla sold 473,000, coming in only behind BYD.

7) US govt announces offshore wind lease auction next month for over 488,000 acres off NY and NJ w/potential of between 5.6-7 GW of capacity.

8) Canadian compressed air storage company Hydrostor garners $250 million investment from Goldman Sachs's private equity branch.