Honda launches cargo e-bike delivery business
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Honda debuted a new business unit named 'Fastport' this week that will use cargo e-bikes to serve the last-mile delivery market in dense urban areas in North America and Europe.
The automaker developed a modular, electric quadricycle it will use for deliveries. The vehicle, which can operate in bike lanes, will be manufactured in Ohio beginning later this year.
Honda plans to work with delivery providers to offer the new Fastport service. 'Instead of just selling the vehicle itself, [Honda is offering] the entire support ecosystem: the batteries, the cargo box, the maintenance, the service, as well as the software,' Adam Elsayed, head of product at Fastport, an American Honda Motor Co. venture, said in an interview.
Electric-powered cargo bikes can help reduce emissions and traffic congestion from truck deliveries. In recent years, several pilot programs have tried to increase their use with delivery hubs, three-wheel cargo bikes and larger bikes. Honda plans to work more holistically: 'We're dedicated to transforming the last-mile delivery space, and we plan to do that through what we're calling an ecosystem of hardware and software products,' Elsayed said.
Since the bikes will operate on crowded city streets, they have safety features such as proximity sensors, a rear-view camera and automatic parking brakes, Elsayed said. The bike, which Honda is calling the Fastport eQuad, will be available in two sizes. Each will have a maximum speed of 12 mph; a canopy, vent fan and front enclosure are designed for rider comfort, the company says.
The larger model can handle a payload up to 650 pounds; the smaller model can handle 320 pounds. The bike's software can be updated over the air.
The eQuad's swappable batteries are also a Honda product, its mobile power pack. Each bike carries two 1.3-kilowatt-hour batteries, Elsayed said, with a range of up to 23 miles, depending on payload, for the larger vehicle.
Honda calls its Fastport business model 'fleet-as-a-service,' which it will be selling to business customers. Honda said it is speaking with 'major logistics and delivery companies' in North America and Europe about pilot programs, but it did not reveal any names. Elsayed said the company is 'mainly focused on parcel and food delivery' for the initial rollout.
Fastport was the brainchild of the Honda New Business Innovation Lab at American Honda Motor Co. in Torrance, California. The Fastport eQuad will be produced at the Honda Performance Manufacturing Center in Ohio, which the company describes as a small volume, specialty manufacturing facility.
'We believe that [the Fastport eQuad is] more advantageous than a van and more capable than an e-bike,' Elsayed said. 'If we get these on the road, we may be able to replace some of those larger vans, and we think that will be a benefit for the city.'
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USA Today
an hour ago
- USA Today
Bryan Cranston champions Ford's new philanthropy push at revived Detroit landmark
It's midmorning June 17 and actor Bryan Cranston is in a private room deep inside Michigan Central Station seated in an overstuffed lounge chair. He leans back, smiling and welcoming the respite from the grueling 82-degree heat he'd just endured for more than an hour outside, speaking in front of hundreds of Ford Motor Co. employees, dealers and some media. Cranston, 69, isn't complaining. Heck, he isn't even sweating. The Oscar-nominated star volunteered to be in Detroit to emcee the event to kick off Ford's new philanthropy program: Ford Building Together. The program aims to better unite Ford's nationwide dealership network and employees so that they can provide more efficient relief during disasters. Ford is partnering with four charities in the new program. 'I'm here to build that community, that's what it's all about," Cranston told the Detroit Free Press, part of the USA TODAY Network, of why he supports Ford's philanthropy work. "I'm tired of the vitriol and the rancor and the finger-pointing. We're better than that. We have a variety of different opinions on religion and politics and life. But let's find the commonality. This is one of those events that finds that commonality. This is a celebration of the American spirit.' The American spirit is fitting for Ford as the company touts itself as the most American of all the automakers, often citing the statistic that 80% of the vehicles it sells in the United States, it also assembles here. That is a timely message amid President Donald Trump's trade war, which seeks to encourage more U.S.-based manufacturing. A quiet philanthropist Cranston is most famous for playing the dad in the early 2000s sitcom "Malcolm in the Middle" and more recently as playing Walter White, a chemistry teacher turned drug dealer, in the hit 2008-13 drama "Breaking Bad." In 2016, he was nominated for Best Actor for the movie "Trumbo." Despite his movie star credentials, Cranston is a dedicated philanthropist, though he said this is the first time he has talked so openly about it. "I've been involved in philanthropy for quite a while. My wife and I have a fund set up for a variety of charities," Cranston said. "It was Jane Kaczmarek, who played my wife in 'Malcom in the Middle,' who said, 'Paying back, donating time, energy and money to charities is reciprocal to our good fortune and it kind of comes with the territory.' " He has used social media to promote his involvement with the National Center for Missing and Exploited Children over the years. And, even with his business endeavors, Cranston makes an effort to give back. "I'm so blessed; I'm so lucky. Why not share it?" Cranston said. "I don't know how good I'd be as a mogul, wanting to make more and more. I want to make and share, make and share. That's what we discovered when Aaron Paul (costar in 'Breaking Bad') and I started our mezcal company Dos Hombres — we have to give back to the people of Mexico. It's the right thing to do." 'You want me to show up?' Cranston's ties to Ford started years ago. The relationship has taken him from rescue work with the automaker's philanthropy arm after Hurricane Maria hit Puerto Rico in 2017, to more recently his visit to Dearborn, Michigan Truck Plant to donning a hard hat to trapse through the very building he sat in on June 17: Michigan Central Station, well before it was renovated. Cranston's famous voice — a deep, gutteral baritone — won him a contract as the voice of Ford commercials starting in October 2018 with the launch of the "Built Ford Proud" campaign, according to Ad Age. He has also voiced Ford Philanthropy promotional videos. Before that, he said he has personally bought several F-150 crew cab pickups over the years, donating them to charities to use after hurricanes to rescue people in flooded areas. As for his personal car, Cranston has been driving an all-electric Mustang Mach-E for the past few years. So when Ford told him about this new philanthropy program that partners with the American Red Cross (Cranston said he donates blood regularly), Habitat for Humanity, Feeding America and Team Rubicon, he didn't hesitate to help. "Ford said, 'Do you wanna …?' I said, 'You want me to show up?' They said, 'Will you? Really?' I said, 'Yeah, yeah.' So here I am," Cranston said. Cranston's visits to Michigan To get to Detroit on June 17, Cranston took a day and a half off from the set of his latest project, a dark comedy movie being filmed in Champaign, Illinois, called "Chili Finger." It also stars Judy Greer, Sean Astin and John Goodman. The timing is interesting, too. Cranston said it was nearly four years ago to the date when he entered "this building wearing a hard hat and a vest, stepping over puddles and fallen cables and graffiti and broken marble … it was a mess." That was in 2021 or so and Cranston said he'd come to Michigan to do research for the 2022 movie "Jerry and Marge Go Large" costarring Annette Bening based on the true story of Jerry and Marge Selbee, of Evart, Michigan, who figured out how to win the lottery. Cranston took a detour from his research to come to Detroit during that visit where he met up with friends. While in the city, he took a tour of Dearborn Truck Plant to see the F-150 pickup being made and then he made his way to Michigan Central Station. "I came here to see what Ford was doing to this and why," Cranston said. "I thought, 'Oh my gosh this is a huge undertaking.' I knew it was Bill Ford's baby and people thought he was a little crazy to do this and look at it now. It's gorgeous.' Executive Chair Bill Ford was on FOX News Channel's "FOX & Friends" the morning of June 17 talking to co-host Steve Doocy about the long-standing desire to repair the train station. "It had become a mecca for drug dealers and everything else. I drove by it almost every day and often, what happened was, there were stories, national stories about the decay of Detroit ... and this was often the visual," Ford said of the train station. Ford spent close to $1 billion to renovate the old train depot, which now holds shops, offices and soon, a luxury hotel. Since it opened to the public in June 2024, Ford said it has had about 300,000 visitors. On June 2, NoMad Hotels, an upscale boutique brand affiliated with Hilton and featuring a bourgeois-bohemian flair, said it plans to open an approximately 180-room hotel on the top floors of Michigan Central Station in the first half of 2027. Cranston's take on Detroit sports Cranston glances around at the marble walls. The sunlight pierces through the skylights illuminating the once downtrodden train depot. He is aware the building reflects the Motor City, a place he calls a "great town" that he visits often. "I'm really, really happy to see it come back," Cranston said. "There were times when I was here, where it was almost like a ghost town and to see that urban renewal is really rewarding.' Cranston has a couple of hours before he has to catch a flight back to Champaign, Illinois, and return to his real job. He doesn't mind going back to work, saying he is grateful that he gets to do what he loves for a living and it has given him a platform to help others. There is one regret though, being a Tigers fan, Cranston wishes he could have caught a game while here. "But the last time I was here, it was about a year and a half ago, and I'm from Los Angeles originally so I'm a Rams fan," Cranston said. "We came to play the Lions and the Lions beat us. They played a better game and they won. They've got a great team and it was a lot of fun." Jamie L. LaReau is the senior autos writer who covers Ford Motor Co. for the Detroit Free Press. Contact Jamie at jlareau@ Follow her on Twitter @jlareauan. To sign up for our autos newsletter. Become a subscriber.
Newsweek
an hour ago
- Newsweek
Fervo Uses Oil Drilling Technology to Dig Deep for Clean Geothermal Energy
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The U.S. oil and gas industry sparked an energy revolution a few decades ago by thinking in a different direction—literally. Horizontal drilling, combined with hydraulic fracturing, unlocked new petroleum reserves and quickly propelled the U.S. to global leadership in oil and gas. Fervo Energy, a company headquartered in oil capital Houston, is aiming for a similar revolution in geothermal energy by borrowing a page from the oil industry's playbook. "Drilling is drilling," Fervo's Vice President of Strategy Sarah Jewett told Newsweek. "That is kind of the 'aha' moment that our founders really found when they started this business." By using drilling technology advanced by the oil and gas industry, Fervo is drilling deeper, drilling sideways and drilling in new places to unlock new reserves of heat energy. A member of Fervo Energy's drilling rig crew climbs to the top of the rig in Utah. A Fervo well recently reached a depth of more than 15,000 feet, where rock is greater than 500... A member of Fervo Energy's drilling rig crew climbs to the top of the rig in Utah. A Fervo well recently reached a depth of more than 15,000 feet, where rock is greater than 500 degrees Fahrenheit. More Courtesy of Fervo Energy "There's no reason why geothermal energy wells should be using older, more outdated rigs," Jewett said. Traditional geothermal energy relies on finding steam-bearing resources and drilling into them vertically to capture the steam heat. It requires not only hot rock but also enough permeability in the rock to allow water and heat to come together. That made geothermal power geographically limited to those places with just the right combination of factors. Fervo is developing an enhanced geothermal system (EGS) that creates some of those conditions by making rock permeable and injecting liquid where hot rock is available. Instead of just drilling vertical wells, the company uses horizontal drilling and hydraulic fracturing techniques to harvest naturally occurring heat. "We are just using the heat from rock under the earth rather than steam directly to create electricity," Jewett explained. The U.S. Department of Energy calls EGS "the next frontier" for renewable energy. Because the technology can tap a much wider range of geothermal resources, the DOE estimates that EGS has the potential to power more than 65 million American homes and businesses. "Really, hot rock is everywhere," Jewett said. "It's just a question of how deep that rock exists and how economic is it to actually get to [that] depth." Rock that reaches 400 to 500 degrees Fahrenheit is, generally speaking, closer to the surface in the western U.S. than in the eastern states. Fervo is focusing efforts in southwestern Utah, site of the company's Cape Station development where the company is building three power plants. Fervo Energy is building three power plants as part of its Cape Station development in southwestern Utah. The first is scheduled to come online in the summer of 2026. Fervo Energy is building three power plants as part of its Cape Station development in southwestern Utah. The first is scheduled to come online in the summer of 2026. Courtesy of Fervo Energy Jewett said Fervo's first power plant is scheduled to come online next summer with the first phase delivering 100 megawatts of clean power. An additional 400 megawatts of capacity is scheduled at the same site by 2028, and power purchasers include Shell Energy and Southern California Edison. Last week the company announced that a new round of funding for the Cape Station development had secured $206 million from investors including Breakthrough Energy Catalyst, founded by Bill Gates. In another announcement last week, Fervo shared results from one of its exploration wells that pushed the boundaries of geothermal technology. The company's deepest well yet reached more than 15,750 feet, nearly 3 miles beneath the surface. Rock temperature at that depth is greater than 500 degrees, Jewett said, and the company is testing what happens to drill bits, casings and electronics at very high heat. "One of our paths to innovation we call 'boring is beautiful,'" she said. As wells reach greater depth and higher heat, companies providing parts and services test the performance of drilling equipment under increasingly harsh conditions. "That has been a really virtuous cycle of innovation between us and our partners." In another parallel with the oil and gas industry, Fervo had the petroleum consulting company DeGolyer & MacNaughton conduct an independent energy reserve estimate for the Cape Station project. Such reserve estimates are common when oil companies develop a new resource, but the practice is new for the geothermal industry, Jewett said. DeGolyer and MacNaughton applied similar principles from oil analyses to evaluate the thermal energy potential at the site and concluded that Fervo's site could yield 5 gigawatts of power. A gigawatt is enough to power a city of 750,000 homes. With those positive developments on the technical and financial fronts, Fervo is clearly on a hot streak. But like the rest of the clean energy sector, the company is also closely watching policy developments in Washington. Tax credits from the 2022 Inflation Reduction Act were a boon for new clean energy technology developers, not only because of the size of the credits but because the 10-year lifespan of the credits provided long-term stability to attract private investors. The "one big beautiful" bill approved by the Republican-controlled House of Representatives late last month would end most of those clean energy credits and debate is underway on a Senate version. "We're fighting pretty hard to preserve tax credits because for these very early projects, it's incredibly useful to have that that support," Jewett said. Fervo's first phase of development would not be affected by the changes, she said, because construction is already underway, but future projects could become more challenging. Regardless of policy changes, however, she said she is confident that EGS power will find a market as a steady source of electricity to meet surging demand. "Geothermal energy projects are capable of providing that 'always on' power," she said. "And I think that's why it's become so attractive."
Time Magazine
an hour ago
- Time Magazine
We Need to Invest in the Heartland
For too long, the national conversation about innovation, the future of higher education, and economic growth has been dominated by a handful of colleges and universities largely based in coastal power centers. In doing so, we've overlooked the rest of the country and have weakened the broader foundation of American capitalism and democracy. There is another path forward—and it runs through the heartland of America. Across the country, families, and employers are rethinking the value of a college degree. Meanwhile, the pace of technological change is accelerating—AI is transforming industries, new sectors are emerging, and the demand for skilled talent is shifting rapidly. This comes at a time when public trust in institutions is eroding, and millions of Americans are asking whether our systems still work for them. Whether America leads or lags in this new window of opportunity depends on how we respond. With bold leadership and deep partnerships between universities and the private sector, the heartland can become the driving force behind America's next wave of innovation, economic competitiveness, and shared prosperity. Businesses and philanthropists are uniquely positioned to scale this pivotal moment: one that calls for a new, more inclusive era of American innovation and entrepreneurial growth. In the Midwest, universities are working hand-in-hand with businesses—and proving that the innovation and growth of the future will not be confined to any one part of the country. This region is uniquely suited to lead the next wave of American renewal. It has what the moment demands: grit, talent, urgency, and values that anchor capitalism in real lives and impact. As a nation, we often overlook where some of the most consequential innovation is happening. While innovation breakthroughs are happening at an exciting pace in the heartland, venture capital dollars continue to concentrate in California, New York, and coastal cities. Moreover, research centers are partnering with hospitals and farms, and in classrooms from coast to coast students are working with local employers to move forward in areas like AI, energy, bioscience, and robotics. This is where innovation reaches scale and serves everyday people, and not just markets or valuations. The future of American prosperity will be shaped by whether states, the federal government, and individual donors continue to invest in public universities embedded in their communities—institutions that serve as launchpads for discovery, entrepreneurship, and upward mobility for millions of people. For more than 80 years, universities have partnered with government and industry to drive innovation, advance research, and develop a skilled workforce. For the United States to maintain its global leadership, it is important for these three sectors to renew and strengthen their collaboration in the face of emerging challenges and opportunities. Public institutions, in fact, enroll three-quarters of the roughly 19 million college students in the United States, according to the National Center for Education Statistics. More specifically, America's land-grant institutions, created by and for the people, are uniquely positioned to rewrite the value proposition for higher education for the next generation. Access and opportunity are at the core of our mission, calling us to do work that directly benefits the people we serve. We exist to make life better in the communities of which we are a part. At The Ohio State University, demand is soaring for affordable academic programs, deep partnerships with industry, and innovation-based education and research. It's why we launched the Center for Software Innovation and joined the NextGenAI consortium from OpenAI—bringing additional research grants, funding, and API access to AI-related campus work. But for partnerships like these to grow, we need a mindset shift—within universities and across business and philanthropy. Investors and employers must see the Midwest as a wellspring of ideas, talent, and leadership. More broadly, we must ensure research dollars and economic incentives reach every corner of America. These investments make the United States more resilient and competitive globally while unlocking a wider pool of ideas, perspectives, and solutions. When America invests in our universities, we invest in well-rounded citizens, building social mobility and stability, and research that literally saves lives. We know this from experience. One of us is a Navy airman turned university president. The other, a software entrepreneur turned university benefactor and investor. We've seen how cross-sector leadership can create durable, inclusive growth. But this work can't be piecemeal. We need a national rallying cry to drive how, where, and why we invest in America's future. That future can start in the heartland, if we recognize its potential and act accordingly. The heartland doesn't just hold the key to America's economic future—it holds the promise of a robust economy rooted in community, powered by purpose, and capable of restoring trust in systems meant to serve us all.
