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In 2008, California voted yes on a $9 billion bond authorization to build the nation’s first high-speed railway. The plan is to build an electric train that will connect Los Angeles with the Central Valley and then San Francisco in two hours and forty minutes. At the time, it was estimated the project would be complete by 2020 and cost $33 billion. But 15 years later, there is not a single mile of track laid, and there isn’t enough money to finish the project. The latest estimates show it will cost $88 billion to $128 billion to complete the entire system from LA to San Francisco. Inflation and higher construction costs have contributed to the high price tag. Despite the funding challenges, progress has been made on the project. 119 miles are under construction in California’s Central Valley. The project recently celebrated its 10,000th worker on the job. The infrastructure design work is complete, and 422 out of 500 miles have been environmentally cleared. CNBC visited Californi
Dozens of electric vehicles are scheduled to debut in the next few years and over 300 million electric vehicles are expected to be on the world’s roads by 2030. The lifetime for an EV battery is estimated to be 12 to 15 years in moderate climates, but that doesn’t mean the batteries end up in landfills when they die.
There are a number of companies working on lithium-ion battery recycling including Li-Cycle, Redwood Materials and Spiers New Technologies, or SNT.
SNT focuses on refurbishing, repurposng and recycling EV batteries to give them a second life. It already works with Volvo, Porsche, GM, Ford and others to take old batteries and make them new again. The estimated reuse lifetime of an EV battery can range anywhere from five to 30 years.
By 2050, the demand for graphite, lithium and cobalt is expected to increase by 500 percent because of the battery boom, so extending the life of an EV battery can reduce the need for critical minerals and new mines.
CNBC visited SNT at i
San Francisco is facing its highest office vacancy rates in nearly 30 years. At the same time, the city is facing a housing crisis with the state demanding 82,000 new units of housing to be built by 2031. CNBC sits down with San Francisco Mayor London Breed to discuss how the city could tackle two of its biggest issues head-on. Plus, CNBC visits a building in the Civic Center neighborhood that undertook the biggest office-to-residential conversion in the city to date.
Chapters:
0:00 Intro
1:09 Empty offices
4:25 Office conversions
9:42 Overcoming hurdles
Produced by: Sydney Boyo
Additional Camera: Katie Brigham
Supervising Producer: Jeniece Pettitt
Editorial Support: Lindsey Jacobson
Graphics by: Christina Locopo
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