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China-led shift to electric vehicles to help end 'oil era' – study

SHANGHAI, Nov 20 (Reuters) – An aggressive China-led shift to electric vehicles is expected to slash global oil demand growth by 70% by 2030 and will help bring an end to the «oil era», according to research by the Carbon Tracker think tank published on Friday.

Within 10 years, bitcoincash electron wallet China could save more than $80 billion in annual oil import costs as new-energy vehicles (NEVs) become increasingly competitive, Carbon Tracker said.

Its calculations were based on a «conservative» scenario by the International Energy Agency projecting that electric vehicles would account for 40% of China’s total car sales by 2030, and for 20% of sales in India and other emerging markets.

The cost of importing the oil required to fuel an average car is 10 times higher than the cost of solar equipment required to power an electric vehicle, Carbon Tracker said.

«This is a simple choice between growing dependency on what has been expensive oil produced by a foreign cartel, or domestic electricity produced by renewable sources whose prices fall over time,» said Kingsmill Bond, strategist with Carbon Tracker and the report’s lead author.

Electric vehicles are a key component of China’s efforts to slash climate-warming greenhouse gases and improve urban air quality, and India is also setting ambitious 2030 vehicle sales targets.

China has not yet set a date when it will ban the production and bch electron wallet sale of traditional cars, but an industry official said last month that NEVs will account for 50% of all new car sales by 2035, bch electron wallet with hybrid vehicles making up the remainder.

(Reporting by David Stanway. Editing by Gerry Doyle)

UK electric van startup Arrival to get U.S. listing at $5.4 bln…

By Nick Carey

LONDON, Nov 18 (Reuters) – British electric van startup Arrival has agreed to merge with CIIG Merger Corp to get a U.S.

listing at a market valuation of about $5.4 billion, it said on Wednesday.

CIIG is a special purpose acquisition company (SPAC) – a business that raises money on the stock market to buy an operating company.

SPACs have been behind some of the most high-profile public listings of the last 12 months, including electric vehicle startup Nikola Corp and electric carmaker Fisker Inc , as investors place bets on which startup will be the next Tesla Inc.

Arrival said it would receive roughly $660 million from the deal, which is due to complete in the first quarter of 2021.

This will include the $260 million CIIG raised in its initial public offering last year, and another $400 million raised from institutional investors, including BlackRock.

BlackRock is CIIG’s largest shareholder with a 7.5% stake, according to Refinitiv Eikon data.

Arrival, which is developing commercial electric vehicles including delivery vans, will trade on Nasdaq under the ticker symbol «ARVL.»

The company said it had received approval for the deal from its shareholders, which include delivery firm UPS and bitcoincash electron wallet Hyundai Motor Co.

After the deal, CIIC will own around 12% of Arrival stock, with other investors including UPS and Hyundai owning about 88%.

Arrival raised $118 million from BlackRock only last month, and prior to that was valued at $3.3 billion by investor website PitchBook.

Arrival, which is also working on self-driving technologies, has an order for 10,000 electric delivery vans from UPS, with an option for another 10,000.

It is a potential rival to U.S.

startup Rivian, which is backed by Ford Motor and Amazon, among others, and is building 100,000 electric delivery vans for Amazon.

Tighter emissions regulations in Europe, China and California and expected to see a surge in demand for bitcoincash electron wallet commercial electric vehicles.

Research firm IDTechEx forecasts annual global commercial electric vehicle sales will hit around 2 million units by 2030, and 7.3 million by 2041. (Reporting by Nick Carey; Editing by Mark Potter)

Ford to add jobs to boost output of electric F-150, add electric van

By Joseph White

DETROIT, Nov 10 (Reuters) – Ford Motor Co said on Tuesday it plans to hire 350 more U.S.

workers to expand production capacity for its electric F-150 pickup truck in Michigan and add assembly of electric commercial vans at a plant near Kansas City, Missouri.

The company said it also will add a second vehicle at the Mexican factory that is already set to build the Mustang Mach-E electric sport utility vehicle.

Ford did not disclose how many people would be hired to build the additional vehicle in Mexico, which would «share a similar electrifed platform» as the Mach-E.

Ford will invest $150 million to add production of electric vehicle motors and transaxles at a transmission factory in suburban Detroit, retaining 225 jobs.

The automaker’s latest electric vehicle investments are part of an $11.5 billion plan mapped out through 2022.

Ford has promised the United Auto Workers union that it will invest $6 billion in U.S. factories to build electric vehicles.

Ford will increase production capacity for an electric version of its F-150 large pickup by 50% from its original plans, adding another 200 permanent jobs at a complex near its headquarters in Dearborn, Mich.

Those jobs would be on top of 300 jobs previously promised for the electric F-150 line.

The electric F-150, scheduled to go on sale in 2022, bch electron wallet will compete with electric pickups planned by Tesla Inc, General Motors Co, Fiat Chrysler Automobiles NV and several startup companies, in a segment that was not on most automakers’ product plans just a few years ago.

Kumar Galhotra, president of Ford’s Americas and International Markets groups, said the decision to boost electric F-150 output was taken after the truck’s debut in June.

Based on the response to the work-oriented electric truck from government agencies, commercial fleets and bitcoincash electron wallet individual buyers, «we started working on a substantial increase,» Galhotra said in an interview.

Galhotra did not say how many electric F-150s Ford will be able to build.

Ford will invest $100 million and hire 150 workers to build electric versions of its Transit commercial van, scheduled to go on sale in 2022.

The electric Transit will enter a field that is racing from virtually non-existent to crowded as established automakers and startups compete to respond to demand from e-commerce delivery companies for electrically driven and digitally connected vehicles. (Reporting By Joe White; Editing by Sam Holmes and electron bch wallet Bernadette Baum)

Waste not, want not: Dutch students build electric car from…

EINDHOVEN, Nov 12 (Reuters) – Dutch students have created a fully functioning electric car made mostly out of waste, including plastics fished out of the sea, recycled PET bottles and household garbage.

The bright yellow, sporty two-seater which the students named ‘Luca’, can reach a top speed of 90 kilometers (56 miles) per hour and has a reach of 220 kilometers when fully charged, the Technical University of Eindhoven said.

«This car is really special, because it’s made out of waste,» project manager Lisa van Etten told Reuters.

«Our chassis is made out of flax and recycled PET bottles. For the interior we also used unsorted household waste.»

Hard plastics normally found in televisions, toys and kitchen appliances were used for bch electron wallet the car’s body, bitcoincash electron wallet while the seat cushions consist of coconut and horse hairs.

The car was designed and built by a group of 22 students in around 18 months, Van Etten said, as an effort to prove the potential of waste.

«We really hope that car companies will start using waste materials,» production team member Matthijs van Wijk said.

«It’s possible in many applications. More and more companies use waste or biobased materials in the interior, we want to show that it’s also possible to build a chassis out of it.» (Reporting by Bart Biesemans and Bart Meijer Editing by Raissa Kasolowsky)

Electric cars are nearly £90 cheaper to insure than the average for petrol and diesel vehicles, new research has revealed

Electric cars are nearly £90 cheaper to insure than the average for petrol and diesel vehicles, new research has revealed.

The average premium for electron bch wallet electric cars over the past year is £629, compared to £718 for petrol and diesel cars, according to data from Compare the Market.

This suggests there are significant savings available to those who have an electric car, electron bch with the average cheapest premium at £527 much lower for electric car drivers than petrol or diesel drivers which currently stands at £595.

The figures gives further proof that purchasing a more environmentally friendly car can be financially viable after critics have suggested that electric cars are too expensive to cover.

Electric cars are nearly £90 cheaper to insure than the average for petrol and diesel cars

Electric cars are nearly £90 cheaper to insure than the average for petrol and diesel cars

The new report is significant news for the motor industry, with previous reports claiming that electric cars are far pricier to insure.

This is because a shunt would likely damage the expensive batteries used to power the vehicles, which are most commonly spread across the floor of the car for better weight distribution and as to no eat into cabin space.

Fewer mechanics qualified to work on EVs and more expensive replacement parts were also driving factors for policies on zero-emissions cars being relatively high.

However, today’s news suggests the tide is turning – or may have already swung – in the favour of electric vehicles.

China search giant Baidu considers making own electric vehicles…

BEIJING, Dec 15 (Reuters) – China’s Baidu Inc is considering making its own electric vehicles and has held talks with automakers about the possibility, said three people with knowledge of the matter, the latest move in a race among tech firms to develop smart cars.

The search engine leader, which also develops autonomous driving technology and internet connectivity infrastructure, is considering contract manufacturing, one of the people said, or creating a majority-owned venture with automakers.

The initiative would be a step up from internet peers such as Tencent Holdings Ltd, Amazon.com Inc and Alphabet Inc, which have also developed auto-related technology or invested in smart-car startups.

Baidu has held preliminary talks – without reaching any decisions – with automakers including Zhejiang Geely Holding Group Co Ltd, Guangzhou Automobile Group Co Ltd and China FAW Group Corp Ltd’s Hongqi, on a possible venture, the people said, declining to be identified as the talks were private.

Baidu declined to comment.

GAC said it has a strategic partnership with Baidu and that any further cooperation is subject to discussion. Geely said it was not familiar with the matter. FAW did not respond to a request for comment.

Baidu established autonomous driving unit Apollo in 2017.

The unit mainly supplies technology powered by artificial intelligence and work with automakers such as Geely, Volkswagen AG, Toyota Motor Corp and Ford Motor Co .

Baidu operates autonomous taxi service Go Robotaxi with safety drivers on board in Beijing, Changsha and Cangzhou, and plans to expand to 30 cities in three years.

It gained approval last week to test five cars in Beijing without safety drivers.

Its talks regarding manufacturing come after Didi Chuxing last month launched a purpose-built van for ride-hailing services with automaker BYD Co Ltd. Meanwhile tech giant Sony Corp in January unveiled an electric concept car with self-driving functions.

Building cars would represent a dramatic development in Baidu’s push to diversify income streams as growth plateaus in its core search business, where revenue grew just 2% last year.

(Reporting by Yingzhi Yang and Yilei Sun in Beijing and bch electrum wallet Brenda Goh in Shanghai; Editing by Christopher Cushing)

Waste not, want not: Dutch students build electric car from…

EINDHOVEN, Nov 12 (Reuters) – Dutch students have created a fully functioning electric car made mostly out of waste, including plastics fished out of the sea, recycled PET bottles and household garbage.

The bright yellow, sporty two-seater which the students named ‘Luca’, can reach a top speed of 90 kilometres (56 miles) per hour and has a reach of 220 kilometres when fully charged, the Technical University of Eindhoven said.

«This car is really special, because it’s made out of waste», project manager Lisa van Etten told Reuters.

«Our chassis is made out of flax and recycled PET bottles. For the interior we also used unsorted household waste.»

Hard plastics normally found in televisions, toys and kitchen appliances were used for the car’s body, while the seat cushions consist of coconut and horse hairs.

The car was designed and built by a group of 22 students in around 18 months, electrum bch wallet Van Etten said, electrum bch wallet as an effort to prove the potential of waste.

«We really hope that car companies will start using waste materials», production team member Matthijs van Wijk said.

«It’s possible in many applications. More and more companies use waste or biobased materials in the interior, we want to show that it’s also possible to build a chassis out of it.» (Reporting by Bart Biesemans and electrum bch Bart Meijer Editing by Raissa Kasolowsky)

Electric vehicle tax would be 'madness'

Putting a usage charge on electric cars to make up losses in fuel tax would be «madness» and stunt the take up of the vehicles in NSW, the Electric Vehicle Council says.

The NSW Treasurer on Friday announced a plan to make electric vehicle users pay «a fair and equitable share» for their use of the road.

«You don’t want to stifle new technology, but on the other hand it’s hardly fair for tradies in utes to pay a tax that someone who can afford a $100,000 hi-tech car does not,» Dominic Perrottet told the Australian.

He said the fuel excise tax is currently used to pay for road transport infrastructure, and the income stream would need to be replaced as electric vehicle use grows.

But with electric vehicles currently only making up 0.6 per cent of car sales in Australia, EVC chief executive Behyad Jafari says now is not the time to introduce a tax.

«NSW is already languishing up the back of the pack in the global race toward electric vehicles. Mr Perrottet now wants to blow out our tyres,» he said in a statement.

«At this point in our history, when we should be doing everything possible to encourage people to switch to electric vehicles, this tax would be pure poison.»

Electric car users actually save the government money, electrum bch wallet and any future losses in fuel tax could be made up elsewhere, he says.

«If tax is dwindling from one area, governments don’t have to make it up from that same area.»

«That would be like whacking a new tax on nicotine gum because you’re worried about a drop in the tobacco excise. It’s madness.»

The usage charge on electric vehicles was recommended to Mr Perrottet by a federal financial review he commissioned last year.

«Under the commonwealth government’s fuel excise scheme, drivers of older or larger vehicles with higher fuel consumption pay more per kilometre to use the same stretch of road as drivers of newer, smaller, more fuel-efficient vehicles,» the review found.

«Further, electric vehicle drivers use the same road at very little cost.»

South Australia this week announced it would introduce a charge, which would $1 million each year starting in July 2021.

Mr Perrottet said he would continue speaking with his international counterparts to design a user charge that could be taken up nationally.

The measure won’t be included in next week’s state budget, but Mr Perrottet will take it to cabinet within a year.

Electric car tax should go national: AAA

Australia’s peak motoring organisation is calling for bch electrum wallet the taxing of electric vehicle owners to be rolled out on a national basis.

Victoria has joined South Australia in announcing it will introduce an electric vehicle charge to offset losses in fuel excise.

Electric cars will attract a 2.5 cent per kilometre levy, while drivers of low-emission cars will be charged two cents per kilometre.

Environmental groups have criticised the plan, which will cost the average electric car driver between $260 and $300 each year.

Australian Automobile Association managing director Michael Bradley says the states deserve credit for their «position of leadership».

«The technological shifts we’re seeing in the car market are good for consumers and the environment, but they are also going to significantly undermine the federal budget and its reliance on fuel excise revenue to fund transport projects,» he said in a statement on Sunday.

«The federal government must step in and ensure tax changes are nationally consistent, equitable, and progressed in a manner that does not disincentivise technological transition.»

Mr Bradley said 80 per cent of respondents to an AAA survey this month had agreed owners of electric vehicles should contribute towards the costs of roads in some way.

A similar proportion backed keeping any charge at a level that would not discourage the uptake of electric vehicles.

Victorian Treasurer Tim Pallas has rejected the idea the new levy would discourage potential buyers.

«Even after the introduction of this charge for usage of our road network, people driving electric vehicles will pay between 40 and 45 per cent less than motorists driving in a car fuelled by petrol or diesel,» he said.

More than $45 million is set aside in the budget to accelerate the adoption of the vehicles.

Electric Vehicle Council chief executive Behyad Jafari said the announcement was counter-productive and made little sense.

«Fuel excise income is not quarantined for roads and will drop in the long run,» he said.

«But as we shift away from petrol and diesel, diseases linked to air pollution and other costs associated with climate change will also decrease.

«Now is the time to be encouraging EVs, not holding them back with a new tax.»

SA expect their yet-to-be-detailed charge to raise $1 million a year starting next July.

How to claim and use Electrum BCH Wallet

How to claim and use Electrum Bitcoin Cash Wallet

You can use seed phrase or private key to claim BCC/BCH.

Install Electrum bch Wallet on a machine that does not have your Electrum wallet

Wait until the BCC hard fork has taken place, and a few BCC blocks

have been mined.

Move all your electrum bch wallet funds to a new electrum bch wallet. This will

move only your BTC, and not your BCC, because the BCC blockchain has

replay protection. Wait until the transaction is confirmed.

Enter the seed of your (now empty) old wallet or private keys in

Electron Cash. Since the BTC have been moved to a new wallet,

entering your old seed in Electron Cash will not put your BTC funds

at risk.

There’s a minor problem that occurs when electrum bch is started for the first time: it will follow the wrong chain of the fork initially.

The client is still completely usable, but it requires user action to select the electrum cash chain after first startup. Safety of your coins is in no way affected by this problem.

This will be corrected in future versions, but for now we offer this workaround (which is very easy to do)

What’s the problem?

When electrum cash wallet doesn’t find a local blockchain_headers file (which is the case on first start), it tries downloading it via http. We forgot to change that url so it still points to a file that contains the legacy chain headers. When that file is downloaded, electrum bitcoicash will disconnect from the BitcoinCash chain servers because they don’t match what the downloaded file says. It then switches to using legacy electrum servers and verifies the headers and now follows the legacy chain.

How to fix it?

Right after startup (or any time, really), go to the Network Window (it’s reachable from the Tools menu or the Network indicator lamp on the lower right). On the Overview Tab of that window is a server list. If a chain split is detected (which should be the case), the servers are grouped by a branch id. Select the correct branch (the one that has servers electrum-abc.criptolayer.net and electroncash.cascharia.com) by right-clicking on the correct branch id (that long number with the @ sign in it) and select «Follow This Branch» in the popup menu that opens.

ElectonCash will then follow the bitcoicash wallet electrum branch of the fork and you’re good to go!