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Elon Musk has strong views on hydrogen

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Tesla CEO Elon Musk has a history of expressing strong opinions about hydrogen and hydrogen fuel cells.

A few years ago, when the subject came up during a discussion with reporters at the Automotive News World Congress, the billionaire and electric vehicle magnate described hydrogen fuel cells as “extremely silly.”

“It’s just very difficult … to make hydrogen and store it and use it in a car,” Musk said. “The best-case hydrogen fuel cell doesn’t win against the current case batteries, so then, obviously … it doesn’t make sense,” he added later.

“That will become apparent in the next few years. There’s … no reason for us to have this debate, I’ve said … my piece on this, it will be super obvious as time goes by, I don’t know what more to say.”

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In the time since those remarks, Musk’s views don’t seem to have changed much, if at all. In June 2020 he tweeted “fuel cells = fool sells,” adding in July of that year: “hydrogen fool sells make no sense.” Musk was not immediately available to comment on whether his views on hydrogen had changed when contacted via Tesla by CNBC Monday.

The tech
First things first: What underpins the tech Musk seems so skeptical of?

The U.S. Environmental Protection Agency describes hydrogen fuel cell vehicles — which are also known as fuel cell electric vehicles — as being “similar to electric vehicles … in that they use an electric motor instead of an internal combustion engine to power the wheels.”

The key difference is that electric vehicles have batteries that need to be charged by plugging the vehicle into a charging point. Fuel cell vehicles, on the other hand, utilize hydrogen gas and, according to the EPA, “generate their electricity onboard.”

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Put simply, with fuel cells, hydrogen gas from a tank mixes with oxygen, producing electricity.

A fuel cell electric vehicle emits “only water vapor and warm air”, the U.S. Department of Energy’s Alternative Fuels Data Center says.

A range of views
Musk is not alone when it comes to being unconvinced about the use of hydrogen in cars.

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In February of this year, Herbert Diess, the CEO of German automotive powerhouse Volkswagen Group, weighed in on the subject.

“It’s time for politicians to accept science,” he tweeted. “Green hydrogen is needed for steel, chemical, aero … and should not end up in cars. Far too expensive, inefficient, slow and difficult to rollout and transport. After all: no #hydrogen cars in sight.”

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Musk and Diess are two high-profile figures at the helm of major companies with huge influence and reach. What they say carries weight. It would appear, however, that their views aren’t shared by everyone in the autos sector.

To date, firms including Toyota and Hyundai have produced hydrogen fuel cell vehicles, while smaller manufacturers such as Riversimple are also working on hydrogen-powered cars.

In June, the BMW Group said it had started to test vehicles that use a hydrogen fuel cell drivetrain, with the company describing hydrogen fuel cell tech as having the “long term potential to supplement internal combustion engines, plug-in hybrid systems and battery-electric vehicles.”

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Progressive Life Insurance successfully settles claims totaling nearly Tk 40 crore in 2024

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Progressive Life Insurance Company Limited (PLICL) settled down insurance claims of approximately 40 (forty) crore taka in 2024 which has fortified clients’ confidence on the company. Progressive Life Insurance Company Limited entered 25th year on 6 January 2025. PLICL was founded on 6 January in the year 2000. Discussion programs, slicing a cake, offering dua and a colourful rally were organized to mark the company’s founding anniversary on Monday at PLICL corporate office in the capital. 

The rally moved around different parts of Dhaka city and the officials of the company held a gathering in front of PLICL head office on Monday morning at 10:30 am. 

PLICL Chairman (Acting) M Shoeb Chowdhury joined the 25th founding anniversary celebration virtually as the chief guest. M Shoeb Chowdhury said that the top management of Progressive Life Insurance Company Limited has been able to uphold the dream cherished by expatriate Bangladeshis whose contribution led to the establishment of the company. Shoeb Chowdhury laid emphasis on working with unity and solidarity for the company’s further advancement and to generate many more success stories.

PLICL Executive Committee Chairman Mezanur Rahman , Chairman of Audit Committee Dr. Md. Jamil Sharif, PhD, FCMA and former entrepreneur Prodeep Sen also attended the program. The event was presided over by the company’s Chief Executive Officer (CEO) Md. Saidul Amin. The 25th founding anniversary of Progressive Life Insurance Company Limited was celebrated in 32 districts and divisional offices across Bangladesh. Senior officials of the insurance company expressed hope and determination to transform PLICL into a top notch institution in days to come. The speakers at the program stated that Progressive Life Insurance Company Limited appointed 1200 development officers in 2024 and training courses have been initiated to upgrade their skills.

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PLICL Deputy Managing Director (DMD) Mohammad Hossain Shaheed Suhrawardy, Senior DMD Shahjahan Azadi, Company Secretary Abdullah Al Mansur and Senior DMD Jaseem Uddin Prodhan addressed the program among other dignitaries.

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Banks see rising deposits for higher interest rates

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Bank deposits grew in the third quarter of 2024 as many people were encouraged by rising interest rates to park their money at commercial lenders.

In the July-September period of the previous calendar year, bank deposits rose 7 percent year-on-year to Tk 18.25 lakh crore, with bank branches in rural areas registering higher deposit growth compared to their urban counterparts.

The significant hike in interest rates was a key driver behind the growth in bank deposits, said Syed Mahbubur Rahman, managing director and chief executive of Mutual Trust Bank PLC.

Besides, banks have carried out a lot of campaigns to attract depositors, he added while informing that they expect the uptrend of deposits to continue.

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The weighted average interest rates on deposits rose to 5.88 percent in the July-September quarter last year from 4.55 percent during the same period of the previous year, according to data of the Bangladesh Bank.

But when comparing the April-June quarter, bank deposits declined by 0.73 percent year-on-year due to widespread unrest centring a mass movement that ousted the Awami League government on August 5.

Overall bank deposits stood at Tk 18.38 lakh crore by the end of last June.

Private commercial banks, including Islamic banks, constitute 68 percent of the total deposits at present.

However, the central bank data shows their deposits shrank 0.33 percent to Tk 12.58 lakh crore by the end of last September from Tk 12.62 lakh crore three months prior.

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The crisis ridden Islamic banks recorded the steepest decline in deposits during the July-September period. Meanwhile, state banks closely followed even though both public and private banks saw deposit growth for about one year since the end of September 2023

On the other hand, loans and advances maintained an uptick for four quarters ending with the July-September period of 2024.

Loans and advances increased by 10 percent year-on-year to Tk 16.19 lakh crore by the end of September last year.

Between June and September of 2024, loans and advances to bank borrowers grew by 1.43 percent mainly in urban areas.

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২০২৪ সালে চল্লিশ কোটি টাকার বীমাদাবি প্রদান করলো প্রগ্রেসিভ লাইফ ইনসিওরেন্স

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সফলতার ২৫ বছরে পা রাখলো প্রগ্রেসিভ লাইফ ইনসিওরেন্স কোম্পানী লিঃ।গতকাল ৬ জানুয়ারি ২০২৫ সালে ২৫তম প্রতিষ্ঠা বার্ষিকী উপলক্ষে আয়োজিত অনুষ্ঠানে এই তথ্য জানান কোম্পানিটির মুখ্য নির্বাহী কর্মকর্তা মোহাম্মদ সাইদুল আমিন। ৬ জানুয়ারী ২০০০ সালে এই কোম্পানিটির যাত্রা শুরু হয়। ঢাকায় প্রতিষ্ঠানের প্রধান কার্যালয়ে বর্ণাঢ্য শোভাযাত্রা,আলোচনা,কেক কাটা,দোয়া অনুষ্ঠান সহ বিভিন্ন আয়োজন করা হয়েছে।

২৫তম প্রতিষ্ঠা বার্ষিকী উপলক্ষে ঢাকার স্কাউট ভবন কার্যালয় থেকে সকাল ১০.৩০ টায় একটি শোভাযাত্রার আয়োজন করা হয়। পল্টন এর বিভিন্ন স্থান প্রদক্ষিণ শেষে প্রধান কার্যালয়ে সমবেত হন প্রগ্রেসিভ লাইফ ইনসিওরেন্স এর কর্মকর্তা কর্মচারীরা। প্রগ্রেসিভ লাইফ ইনসিওরেন্স কোম্পানী লিঃ এর মুখ্য নির্বাহী কর্মকর্তা মোহাম্মদ সাইদুল আমিন সেখানে সংক্ষিপ্ত বক্তব্য প্রদান করেন।

দুপুরে আলোচনা সভায় প্রধান অথিতি হিসেবে ভার্চুয়ালি যোগ দেন ভারপ্রাপ্ত চেয়ারম্যান এম শোয়েব চৌধুরী।তিনি বলেন, ২৫ বছর আগে যে লালিত স্বপ্ন নিয়ে প্রবাসী বাংলাদেশীরা এই প্রতিষ্ঠান তৈরি করেছে আমরা তা সমুন্নত রেখে এগিয়ে নিয়ে যাবো।তিনি সবাইকে একতাবদ্ধ হয়ে কাজ করার উপর গুরুত্ত আরোপ করেন।বিশেষ অতিথি হিসেবে উপস্থিত ছিলেন নির্বাহী কমিটির চেয়ারম্যান মোহাম্মদ মিজানুর রহমান, অডিট কমিটির চেয়ারম্যান ড. জামিল শরিফ ও সাবেক উদ্যোক্তা পরিচালক প্রদিপ সেন।

সভাপতির বক্তব্য মুখ্য নির্বাহী কর্মকর্তা মোহাম্মদ সাইদুল আমিন বলেন,দেশব্যাপী প্রগ্রেসিভ লাইফ এর ৩২ টি জেলা/বিভাগীয় অফিসে একযোগে আমাদের ২৫তম প্রতিষ্ঠা বার্ষিকী পালিত হচ্ছে যা আমাদের জন্য গর্বের বিষয়। ২০২৫ সাল প্রগ্রেসিভ লাইফ ইনসিওরেন্স ২৫তম  বছরে আমাদের ঘুরে দাঁড়ানোর বছর। দেশের শীর্ষ বীমা কোম্পানিতে পরিণত করারা আশাবাদ ব্যক্ত করেন।তিনি জানান,২০২৪ সালে আমরা প্রায় ৪০ কোটি টাকা বীমা দাবি পুরন করে গ্রাহকদের আস্থা অর্জন করতে সক্ষম হয়েছি। সারা দেশে ১২০০ উন্নয়ন কর্মিকে নিয়োগ দিয়েছি এবং প্রশিক্ষণ কার্যক্রম চালু করেছি।বীমা খাতে দক্ষ কর্মী তৈরিতে প্রগ্রেসিভ লাইফ অগ্রণী ভূমিকা পালন করে চলেছে।

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প্রগ্রেসিভ লাইফ ইনসিওরেন্স কোম্পানী লিঃ এর উপ-ব্যবস্থাপনা পরিচালক মোহাম্মদ হোসেন শহীদ সোহরাওয়ারদী , সিনিয়ৱ ডিএমডি শাহজাহান আজাদী,কোম্পানি সচিব আব্দুল্লাহ আল মনসুর,সিনিয়ৱ ডিএমডি জসীম উদ্দিন প্রধান সহ প্রমুখ বক্তব্য রাখেন। 

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