Tesla to open power train plant in Palo Alto
PALO ALTO, CALIFORNIA - Electric carmaker Tesla Motors says it will open a new power train production facility in Palo Alto, Calif., helped in part by a recent award of government loans.
The company says the facility will build components for its vehicles and other automakers. The complex will also house its corporate headquarters and will employ roughly 350 people with space for up to 650.
In June, the carmaker won $465 million in low-interest loans from the U.S. Energy Department. The money is part of a larger pool of funds to help automakers develop more efficient vehicle technology.
The maker of the $109,000 Roadster electric sports car recently unveiled an electric sedan it expects to price under $50,000 after government rebates.
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Shell says electricity to meet 60 percent of China's energy use by 2060
SINGAPORE - China may triple electricity generation to supply 60 percent of the country's total energy under Beijing's carbon-neutral goal by 2060, up from the current 23 per cent, according to Royal Dutch Shell.
Shell is one of the largest global investors in China's energy sector, with business covering gas production, petrochemicals and a retail fuel network. A leading supplier of liquefied natural gas, it has recently expanded into low-carbon business such as hydrogen power and electric vehicle charging.
In a rare assessment of the country's energy sector by an international oil major, Shell said China needed to take quick action this…
