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Ford Motor Co. will take $19.5 billion in charges tied to a sweeping overhaul of its electric vehicle business after struggling for years to make it profitable.

It’s been a rocky comeback for Tesla, whose share price has more than doubled since it hit a low in early April amid a wider market meltdown sparked by President Trump’s tariff offensive.

A shortage of oil tankers is becoming so acute that newly built vessels, which usually carry refined fuels on their maiden voyages, are instead racing empty to pick up crude as soon as possible. 

The automaker will equip its upcoming R2 sport utility vehicles with Rivian Autonomy Processor 1 chips and a new lidar sensor. TSMC will produce the chips.

A unit of BP was the high bidder in a U.S. auction for oil and gas drilling rights in the Gulf of Mexico, the first sale held during President Donald Trump’s second term.

Kenworth and Peterbilt continue to build out their battery-electric tractor and truck portfolios, launching three new models each Dec. 9.

The step by Platts, a unit of S&P Global Energy, effectively eliminates one source of supply that might be cheaper than others. The move will align with European Union rules.

“We can and we must pursue our climatic goal in an effective way, while not killing our competitiveness in the meanwhile since there is nothing green in an industrial desert,” EU leaders said.

Dollars from the $5 billion infrastructure program that Joe Biden’s White House crafted to speed EV adoption are flowing again after the Trump administration froze the funds earlier this year.

The American Petroleum Institute joined a coalition of biofuel producers and fuel retailers asking President Donald Trump to push Congress to develop legislation on the issue.