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Lucid Group Inc. slumped after lowering its production target for this year to between 12,000 and 14,000 cars, down from a previous goal of 20,000, citing “extraordinary” challenges with logistics and its supply chain.

Autonomous vehicles are mostly electric so far. That’s one of the main conclusions of BloombergNEF’s just-published annual report analyzing the state of AV testing programs in the U.S. and China.

LONDON — Global oil and gas giant Shell said Feb. 28 that it is pulling out of Russia as President Vladimir Putin’s invasion of Ukraine continues to cost the country’s all-important energy industry foreign investment and expertise.

The national average price of diesel surged 4.9 cents to $4.104 a gallon, according to the Energy Information Administration’s latest survey, released Feb. 28

Chevron Corp. agreed to buy green diesel producer Renewable Energy Group Inc. for $3.1 billion in the biggest low-carbon deal of CEO Mike Wirth’s four-year tenure.

Hyliion Holdings Corp. announced private fleet GreenPath Logistics ordered 50 Hyliion Hypertruck ERX powertrains.

The U.S. and its allies are discussing a coordinated release of about 60 million barrels of oil from their emergency stockpiles after Russia’s invasion of Ukraine pushed crude prices above $100.

BP is exiting its share in Rosneft, a state-controlled Russian oil and gas company, in reaction to Russia’s invasion of Ukraine.

Exxon Mobil Corp. reached a final investment decision on expanding a carbon-capture facility at LaBarge in Wyoming with the $400 million endeavor expected to start up by 2025.

Northvolt AB plans to convert a closed paper mill in Sweden into a new battery materials factory, adding a third production facility in the Nordic country to supply demand fueled by the growing electrification of transport.