Hyundai Motor Group announced a $21 billion investment on Monday that will amp up its U.S. manufacturing presence. Nearly $6 billion will go toward a “low-carbon” steel plant in Louisiana that will supply the company’s Alabama and Georgia auto factories, Alexander C. Kaufman reports for Canary Media. The low-carbon claim comes from Hyundai’s plans to use an electric arc furnace. But it’s only a small step toward greener steel, one environmental advocate told Canary, since Hyundai will likely still use fossil gas in its process.
Also this week, Hyundai opened a giant plant outside of Savannah, Georgia, where it’ll manufacture its increasingly popular Ioniq EVs.
Clean energy news to know this week
Tesla’s global challenges: Tesla faces more setbacks as Chinese EV firm BYD reports 2024 revenue that exceeds the U.S. company’s, and as its market share continues to fall in Europe. (CNN, Reuters)
Building to decarbonization: A new report details the many ways buildings must decarbonize — from the materials they’re built with to how they’re powered and heated — and the massive amount of coordination it’ll take to make that happen. (Canary Media)
Recycling revolution: The need for metals and minerals for the clean energy transition poses a huge environmental toll, but the U.S. can combat that by accelerating recycling, which has stalled in comparison to some other countries. (Grist)
Renewables on the rise: Wind, solar, geothermal, and hydroelectric capacity is growing far faster than fossil-fuel power sources, a new report from the International Renewable Energy Agency shows. (Axios)
Hydrogen hubs in jeopardy: The U.S. Energy Department is reportedly considering maintaining federal funding for three hydrogen hubs in largely Republican states while cutting investment in four projects in Democratic-leaning areas. (Politico)
Get-out-of-pollution-free card: The U.S. Environmental Protection Agency says it will no longer “shut down any stage of energy production” that doesn’t pose an imminent health threat, a move a former Biden EPA official says amounts to the agency telling companies, especially those selling fossil fuels, that it will let them break the law. (New York Times)
Fossil-fueled feedback loop: Hotter weather is driving increased fossil-fuel use as it spurs people to run air conditioners more often, creating a vicious cycle of climate change, the International Energy Agency finds. (New York Times)
Energy dominance?: Energy executives express deep concerns about the oil and gas sector’s outlook in a new Dallas Fed survey, pointing to President Trump’s trade and tariff policies as headwinds that will drive up drilling costs. (Reuters)
Gas-ban green light: A federal judge threw out a lawsuit opposing New York City’s ban on using natural gas in new buildings, affirming that such policies are a viable way for cities to decarbonize buildings. (Grist)
