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Billionaire Joshua Kushner just bought the Lakers for $12.5 billion—OpenAI's Sam Altman once said he 'doesn't care' what others think

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Facing a decadeslong shortage, the FAA has now hired more than 2,000 air traffic controllers after its campaign recruiting Gen Z video gamers

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Iran says the Strait of Hormuz is shut down. The Trump administration says 9 million barrels a day are still getting out
Electric vehicles

Cities Across the U.S. Will Splurge on Electric Vehicles After Automakers Said There Wasn’t Enough Demand

By Ryan Ho Kilpatrick
March 15, 2017, 5:23 AM ET
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Thirty U.S. cities, including New York, Los Angeles and Chicago, are looking to spend $10 billion on electric cars and trucks in a bid to prove to automakers that there is healthy demand for low-emission vehicles.

Municipal authorities have asked automakers about the cost and feasibility of providing a total of 114,000 electric vehicles such as police cruisers, street sweepers and trash haulers, Bloomberg reports.

Automakers have said that there aren’t enough buyers for electric vehicles, and President Donald Trump is seeking to lower emission standards that the industry opposes as too costly or onerous.

“No matter what President Trump does or what happens in Washington, cities will continue leading the way on tackling climate change,” Matt Petersen, Los Angeles’s chief sustainability officer, told Bloomberg.

The city initiative is only at an early stage and many of the vehicles requested do not yet exist. However, it is considered the first step in a formal bidding process that has the potential to move the electric vehicles market, providing reliable demand over several years as federal policies and gas prices change.

Trump is set to announce plans to review vehicle-efficiency standards on Wednesday during a meeting with auto executives in Detroit.

[Bloomberg]

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