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Oil giant Shell partners with Penske for light-duty EV charging
Oil and gas giant Shell has partnered with Penske Truck Leasing to launch a new joint initiative to support light-duty electric vehicle charging at Penske locations. The companies announced the partnership yesterday at the Advanced Clean Transportation Act Expo.
Penske Truck Leasing and Shell will initially deploy a series of Level 2 electric truck charging stations with plug-and-charge capabilities in four U.S. states this year, with plans for a further expansion of available charging locations in the coming years. It appears the first station will be available in California to support Penske’s growing fleet of battery-electric trucks in the State.
JUST IN: We have a new joint initiative with Penske Truck Leasing to support their light-duty electric vehicle (EV) charging at Penske locations.
Find out more: https://t.co/0rv0YKswGu pic.twitter.com/Xeb4Yr6uG9
— Shell Recharge (@Shell_Recharge) May 9, 2022
“Collaborating with Shell will help us expand and diversify our electric vehicle charging network and to support the light-duty electric vans we recently introduced,” Penske Truck Leasing President Art Vallely said. “We continue to invest in growing our electric fleet and charging infrastructure to provide more options to customers seeking sustainable fleet solutions.”
Shell will be responsible for delivering, designing, installing, and supporting the charging network through its SKY software platform, a press release said. Shell Recharge Solutions, the company’s initiative to achieve net-zero emissions by 2050, is also planning to provide maintenance support across Penske’s network of Level 2 electric truck charging stations, it said.
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“Penske’s light-duty EV expansion project demonstrates that e-mobility is a viable option that’s available now,” Shell’s Vice President of Enterprise Accounts, Sectors, and Decarbonization Daniel Silva said. “We’re proud to work with Penske in decarbonizing their fleets which will lead to greater value for all parties while significantly reducing emissions.”
Thirty-three total Penske Truck Leasing sites will feature the Shell Recharge Solutions battery-electric truck charging stations. Twenty-three locations will be built in California, with three more in Washington State, two in Colorado, Illinois, and Oregon, and one in Reading, Pennsylvania, where Penske is based. This brings the total number of Penske-Shell Level 2 chargers to a total of 79.
Penske has pushed heavily to incorporate more electrified options into its fleet recently. The company ordered 750 Ford E-Transit vans for rental and leasing, which will be delivered within the next few weeks. Additionally, Penske added a leasable fleet of Orange EV-brand electric terminal trucks to its fleet offerings last week.
Shell is not the first oil industry giant to venture into EV charging. Volkswagen recently announced it would partner with bp for a fast-charging rollout in Europe, with up to 4,000 charge points installed in the coming years.
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Elon Musk shed two new bits of detail on Starship following its 13th test launch, which was an overwhelming success.
SpaceX launched Starship for the 13th time last Friday after two delays: one on Monday when several Raptor engines did not ignite, and another on Thursday due to unfavorable weather conditions in Starbase, Texas.
The launch was overwhelmingly successful. SpaceX was able to complete a necessary test of the heat shield tiles by increasing the acceleration of Starship from launch throughout the flight; 20 Starlink v3 satellites were released with no issue; the Super Heavy Booster landed safely in the Gulf of America, Ship successfully reignited engines while in space; and it also splashed down without incident in the Indian Ocean.
SpaceX Starship just nailed something it’s never done before
Nevertheless, more details are coming out about Starship, and Musk is doing the talking.
Starship Will Be Retrieved in the Ocean
Musk revealed on Tuesday night that Starship would be recovered by a ship in the Indian Ocean. SpaceX routinely tries to recover Starship after splashdown in an effort to find out more about the flight by examining the spacecraft afterward.
We’re sending a ship out to recover Starship https://t.co/fUqUZTITO9
— Elon Musk (@elonmusk) July 28, 2026
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This helps engineers find out more about why things might have happened, allows them to examine any potential damage or anomalies that might have occurred, and increases the chances of an even more successful flight next time thanks to the additional information recovered.
Ship Could Have Been Caught by Tower Arms, Musk claims
Musk has already indicated that SpaceX will plan to attempt a catch of Starship with the 14th test flight. While this would be a major accomplishment, it would be an expected next step, considering the fact that the Super Heavy Booster has already been caught by the chopsticks on numerous occasions.
The ship landing was precise, meaning that it would have been caught by the tower arms https://t.co/6nbNrRfX9P
— Elon Musk (@elonmusk) July 29, 2026
A ship catch would be a great indication of where SpaceX stands in terms of reusability and launch cadence. A successful catch with relatively no incidents would be a good sign that SpaceX is nearing a more frequent launch of Starship, but also that the reusability of the massive rocket would be something many would expect in the near future.
It is a necessity to make life multiplanetary.
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Elon Musk has updated his timeline for when humans will walk on Mars and for when ships will simply get there.
The objective of getting to Mars has been one of Musk’s biggest goals since becoming a serial entrepreneur and realizing that time on Earth is limited. Musk has said several times he hopes to die on Mars, and not by impact.
Musk now believes that people will be on Mars in “roughly 5 to 7 years.” He said that a Mars lander will get there “a few years sooner.”
People on Mars in roughly 5 to 7 years.
Mars lander a few years sooner.
— Elon Musk (@elonmusk) July 29, 2026
The response from Musk comes after NASA Administrator Jared Isaacman said that SpaceX’s biggest priority is the Moon and not Mars. Because of this, Isaacman conceded that he believes nuclear power and propulsion investments will provide “potentially the pathway with the fewest miracles required to put four people on Mars in the next 10 to 15 years.”
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Of course, this is what NASA can do through taxpayer funding and nuclear investments, he added.
Musk’s grand ambitions are much more optimistic than most, and it is certainly a double-edged sword. This is not the first time timelines for Mars have been somewhat lofty, especially to those normal thinkers like you and me, not super geniuses like Musk.
In fact, the SpaceX and Tesla frontman has said on at least a dozen occasions that we could be on Mars in the coming years. Musk said 2020 would be the big year as early as 2009. In 2020, he was “highly confident” of a landing in 2026, and had even said 2024 in a best-case scenario.
The point is, the range has varied, and it’s anyone’s guess when we’ll get there. This latest adjustment to the timeline is typical of Musk, and while the Moon has seemingly taken priority over Mars, it is still worth mentioning that the ultimate goal is to make life multiplanetary, and it starts potentially with the Red Planet.
SpaceX (NASDAQ: SPCX) got an absolutely crazy price target rating from Raymond James after the company experienced a tough first few weeks following its Initial Public Offering (IPO).
Despite the tumultuous start, SpaceX has plenty of believers, and the company’s massively successful Starship launch last Friday, its 13th test flight of the massive rocket, went so smoothly that Raymond James analysts pushed its price target on the company to roughly 7 times its current trading level.
SpaceX Starship just nailed something it’s never done before
The firm officially put a “Strong Buy” rating and an $800 price target on the stock. It currently trades at around $113. Its all-time high is $225.64, reaching this trading level shortly after shares first went public.
Raymond James’ price target is tied to the firm’s confidence after Starship’s 13th test flight. Analysts at the firm said it was an incremental step that reduces engineering risks, citing the widely successful heat shield test that CEO Elon Musk recently detailed, the smooth deployment of Starlink V3 satellites, and a successful in-space engine relight.
SpaceX also managed to see Starship splash down safely in the Indian Ocean, while the Super Heavy Booster fell down to the Gulf of America with no incidents.
It is interesting to see these launches have such a tremendous impact on the stock and what investors think of it. After SpaceX initially delayed the Starship launch last week, shares fell tremendously. Most probably did not realize that the stand-down is a standard practice, especially if everything is not perfect.
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The mission was initially aborted due to an issue with Raptor engines. This was resolved, and Starship launched last Friday after another delay on Thursday, which was caused by weather.
Now that analysts have seen what SpaceX launches are capable of and how impressive the feat is, firms are adjusting their price targets accordingly, making it known that they have high expectations for the space exploration company.
Elon Musk sheds two new bits of detail on Starship after 13th test launch
Elon Musk updates the SpaceX timeline for Mars
