Wall Street Breakfast Beryl leaves Houston in the dark
Jul 9, 2024
Topics discussed include widespread power outages in Houston due to Beryl, BYD's $1B EV plant in Turkey, and Stellantis offering 30 hybrid models in Europe. Other highlights cover stock movement, weight loss study, Big Lots bankruptcy risk, and U.S. consumer credit increase in May.
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Houston Faces Massive Storm Outage
- Beryl caused widespread outages with close to 2.3 million Houston customers losing power, showing storm impacts can overwhelm urban grids.
- CenterPoint Energy mobilized nearly 12,000 field resources and expected staggered restorations through Wednesday.
Heat Adds Risk After Storm
- After Beryl moved inland, Southeast Texas faced high temperatures triggering a heat advisory with heat indices up to 105.
- Heat risks amplify recovery challenges for residents and crews restoring power.
BYD's Turkey Plant A Strategic Move
- BYD plans a $1 billion EV plant in Turkey producing 150,000 vehicles and creating about 5,000 jobs, aiming to start production end of 2026.
- This regional expansion could help BYD mitigate potential EU tariffs on Chinese EVs by localizing manufacturing.