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BP’s sale of its petrochemicals business suggests big oil is trying to become big electric

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BP recently sold its petrochemicals business for $5 billion to Ineos, a move which suggests that “big oil” companies are trying to become “big electric” suppliers.

The Wall Street Journal says the sale was the “largest deal by an oil major since the coronavirus outbreak gripped the global economy”.

WSJ says the transaction would enable BP to different itself from its rivals, many of which are forecasting significant growth for the segment and don’t look like they want to sell or leave the petrochemicals sector. [Read more…] about BP’s sale of its petrochemicals business suggests big oil is trying to become big electric

Michigan awards $1.7 million in grants to expand electric vehicle charging network across the state

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Drivers of electric vehicles will have more locations to recharge their vehicle’s batteries as they travel across Michigan because of $1.7 million in grants awarded by the Michigan Department of Environment, Great Lakes, and Energy (EGLE).

The EGLE made the funding available for direct current fast chargers located along well-traveled routes. It says this will “make it more convenient for drivers to reach their destinations”.

EGLE says it is committed to the future of mobility through investment in infrastructure that is needed to support EVs and it has identified “optimal charger locations” across Michigan. [Read more…] about Michigan awards $1.7 million in grants to expand electric vehicle charging network across the state

Mitsubishi Motors considering building first factory in Myanmar

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Mitsubishi Motors is considering building its first factory in the formerly communist and closed state of Myanmar, according to a report on the Nikkei Asian Review website.

Mitsubishi, one of Japan’s top 10 automotive companies, builds more than a million cars a year at more than a dozen plants and supply centres, and also has five research and development facilities.

The Asian countries in which Mitsubishi currently has manufacturing facilities include the Philippines, Thailand, Indonesia and China. [Read more…] about Mitsubishi Motors considering building first factory in Myanmar

Oil-producing nations struggling with economic woes as society shifts towards electric movement

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Oil-producing nations located in the Middle East and North Africa are struggling with their economies, most of which are not diversified enough to offset the losses caused by falls in the price of crude.

A quick check shows that the current price of a barrel of crude oil – which is about 160 litres – is just above $40, which is significantly lower than certainly Arab countries need it to be.

According to the Economist, Algeria needs the price to be about $157 a barrel, while Oman wants to get to at least $87. [Read more…] about Oil-producing nations struggling with economic woes as society shifts towards electric movement

Japanese startups develop concept batteries that last ‘10 times longer’

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Japanese startup companies are developing concept batteries that could last “10 times longer” than current technologies. 

One company, 3Dom, has demonstrated numerous ideas for next-generation batteries, mostly based on conventional lithium-ion systems.

Most recently, the company has developed next generation rechargeable batteries that can be used in vessels. [Read more…] about Japanese startups develop concept batteries that last ‘10 times longer’

Electric vehicle market defies coronavirus threat

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The electric vehicle market has apparently defied the coronavirus threat to rack up record sales for automakers all over the world.

From European companies Renault and BMW to Asian companies such as Hyundai and Toyota, and even US companies such as General Motors – deep in the midst of the the coronavirus crisis – have reported, and are projecting, strong sales and interest in electric and other “new energy” vehicles, as they are called.

Toyota, arguably the world’s largest automotive company, recently reported that it had sold a staggering 15 million hybrid electric vehicles worldwide. [Read more…] about Electric vehicle market defies coronavirus threat

ABB breaks ground on new $30 million facility to manufacture electric vehicle chargers

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ABB has marked the start of construction at its new facility in San Giovanni Valdarno, Italy, which will serve as a global Center of Excellence and production site for electric vehicle charging infrastructure.

The company says the 16,000 square meter facility is expected to be operational by the end of 2021.

As a global market leader in e-mobility solutions, the $30 million investment in this new facility is further evidence of ABB’s continued commitment to driving innovation in this fast-growing sector. [Read more…] about ABB breaks ground on new $30 million facility to manufacture electric vehicle chargers

The EV market continues to grow at an electrifying rate

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It wasn’t all that long ago that we thought Doc Brown powering his DeLorean with banana peels and apple cores was the stuff of science fiction.

And while we haven’t quite gone the way of biofuel, the best electric cars on the market today show that the future is a lot closer than we thought.

We have already moved away from simple hybridization towards vehicles that run on electrons alone, but plug-and-play cars are just a stepping stone on the way to the future. [Read more…] about The EV market continues to grow at an electrifying rate

Top 20 programmable logic controller manufacturers

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Sometimes described as “the workhorse of industrial automation”, a programmable logic controller, or PLC, is a computing device that is specially designed for use in an industrial operation.

A PLC can take many shapes and sizes, but in most instances it does not look like a conventional desktop computer like the ones you find in offices or in homes – a PLC has no display screen, no hard drive, and no keyboard.

PLCs started out in the automotive manufacturing trade, although they can now be found in almost all sectors, where they tend to replace relays.

Relays are devices that essentially turn machines on and off, and are said to be time-consuming and complex to use compared to PLCs. Relays also require more operational downtime when they need to be reconfigured. PLCs are estimated by one research company to reduce downtime from 20 percent to about 4 percent. [Read more…] about Top 20 programmable logic controller manufacturers

ABB wins $5 million order for electric vehicle chargers from GAC Toyota

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ABB has won an order worth $5 million for electric vehicle chargers from GAC Toyota.

The agreement was made through Chargedot, an ABB business unit, and is considered “a major order” in China.

GAC Toyota is the Guangzhou-based joint venture between GAC Group and Toyota. With plans to expand production of electric vehicles to 400,000 a year, the company has asked ABB to supply “several thousand electric vehicle chargers” over the next year. [Read more…] about ABB wins $5 million order for electric vehicle chargers from GAC Toyota