UPS orders 125 Tesla Semi electric trucks, Virgin Hyperloop One raises $50 million

UPS places largest Semi order:  The largest operator of commercial trucking fleets in the world has taken the largest order so far of the Tesla Semi electric trucks. UPS has played an order for 125 of Tesla’s new all-electric Semi tractors. It falls into the company’s extensive clean transportation fleet that includes vehicles powered by electricity, natural gas, and propane. Tesla Semis are poised to usher in a new era in improved safety, reduced environmental impact, and reduced cost of ownership, UPS said in a statement. Last week, PepsiCo Inc. had placed the largest Semi order with Tesla at 100 units in its efforts to reduce fuel costs and fleet emissions.

Cap-and-trade auction strong:  The California Air Resources Board reported strong transfer activity in its most recent cap-and-trade auction results for November. Since the program’s inception, the total amount of auction proceeds that have been placed into the California Greenhouse Gas Reduction Fund comes out to about $6.4 billion. California’s cap-and-trade program began auction sales in late 2012 as an offshoot of the state’s AB 32 global warming act. Under the state’s regulatory structure, large polluters buy carbon credits that come from businesses generating surplus allowances. Collected funds from the auctions fund emission-reducing endeavors, including sustainable energy projects and rebates for electric vehicles and solar panels.

Branson becomes chairman:  Virgin Hyperloop One has raised an additional $50 million ahead of its Series C round of funding. Richard Branson, founder of the Virgin Group, will become chairman of the high-speed transportation company. Branson joined the board of directors in October after Virgin Group invested in the company. The company has also completed its third phase of testing achieving historic test speeds of 387 kilometers per hour (240.4 miles per hour). Branson is internationally known for achievements in air, rail, and space transportation, and his commitment to sustainability.

 

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