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Sparks

It Was a Big Week for Weird Little EVs

Think the Cybertruck is strange? The Morgan XP-1 would like a word.

Fiat and Morgan EVs.
Heatmap Illustration/Morgan Motor Company, Stellantis

The Americanization of electric cars is in full swing, with every U.S. automaker doing what it does best: building ever larger, heavier, and more spacious vehicles. So it's refreshing to see Stellantis, the parent company of Fiat, bringing its first new EV to the States in the form of a reborn 500e.

Fiat 500eFiat

The 500e was beloved when it first landed a decade ago, providing a quick, ultra-compact hatchback that fit the needs of most city and suburban drivers. And given there weren't exactly a lot of small, inexpensive EV options at the time (and incentives were plentiful), you still see them on the road today.

For the new model, Fiat addressed this week some of the issues of its predecessor, with a boost in both power and range thanks to a 42 kWh battery pack that wrings out 149 miles on a charge. The $34,000 price tag may not make it the bargain it used to be, particularly compared to more spacious and long-range options like the Tesla Model 3, which, unlike the 500e, is also eligible for a federal tax credit. But Fiat includes a free Level 2 home charger in the deal, and its 3,000-pound weight and diminutive size make a compelling case for the average commuter.

Plus, when it’s trundling along at low speeds, the 500e's Acoustic Vehicle Alert System (that low hum you hear that's required on EVs) plays a little Italian concerto, "The Sound of 500."

If that's not enough personality for you, one of the most storied British sports car brands, Morgan, unveiled Wednesday an electric update to its iconic three-wheeler. With a 33kWh battery pack mounted in the front and an electric motor putting out 134 horsepower to the rear wheel — singular — the XP-1 is a glimpse of the ultimate electric urban runabout.

Meet XP-1, Morgan's Electric Experimental Prototypeyoutu.be

Completely developed in house by Morgan, it's the company's first serious foray into electric motoring, with an aim to get about 100 miles on a charge. At just over 1,500 pounds, the XP-1 is a scant 130 pounds heavier than its internal combustion counterpart, providing the kind of performance and raw driving experience Morgan is known for. Granted, the lack of a roof limits its four-season functionality, but no one has ever accused a Morgan of being sensible.

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Sparks

It’s Been a Big 24 Hours for AI Energy Announcements

We’re powering data centers every which way these days.

Google and Exxon logos.
Heatmap Illustration/Getty Images

The energy giant ExxonMobil is planning a huge investment in natural gas-fired power plants that will power data centers directly, a.k.a. behind the meter, meaning they won’t have to connect to the electric grid. That will allow the fossil fuel giant to avoid making the expensive transmission upgrades that tend to slow down the buildout of new electricity generation. And it’ll add carbon capture to boot.

The company said in a corporate update that it plans to build facilities that “would use natural gas to generate a significant amount of high-reliability electricity for a data center,” then use carbon capture to “remove more than 90% of the associated CO2 emissions, then transport the captured CO2 to safe, permanent storage deep underground.” Going behind the meter means that this generation “can be installed at a pace that other alternatives, including U.S. nuclear power, cannot match,” the company said.

The move represents a first for Exxon, which is famous for its far-flung operations to extract and process oil and natural gas but has not historically been in the business of supplying electricity to customers. The company is looking to generate 1.5 gigawatts of power, about 50% more than a large nuclear reactor, The New York Timesreported.

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Donald Trump.
Heatmap Illustration/Getty Images

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“GET READY TO ROCK!!!” he added.

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The Mad Dash to Lock Down Biden’s Final Climate Dollars

Companies are racing to finish the paperwork on their Department of Energy loans.

A clock and money.
Heatmap Illustration/Getty Images

Of the over $13 billion in loans and loan guarantees that the Energy Department’s Loan Programs Office has made under Biden, nearly a third of that funding has been doled out in the month since the presidential election. And of the $41 billion in conditional commitments — agreements to provide a loan once the borrower satisfies certain preconditions — that proportion rises to nearly half. That includes some of the largest funding announcements in the office’s history: more than $7.5 billion to StarPlus Energy for battery manufacturing, $4.9 billion to Grain Belt Express for a transmission project, and nearly $6.6 billion to the electric vehicle company Rivian to support its new manufacturing facility in Georgia.

The acceleration represents a clear push by the outgoing Biden administration to get money out the door before President-elect Donald Trump, who has threatened to hollow out much of the Department of Energy, takes office. Still, there’s a good chance these recent conditional commitments won’t become final before the new administration takes office, as that process involves checking a series of nontrivial boxes that include performing due diligence, addressing or mitigating various project risks, and negotiating financing terms. And if the deals aren’t finalized before Trump takes office, they’re at risk of being paused or cancelled altogether, something the DOE considers unwise, to put it lightly.

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