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Workhorse Group secures $35M in financing from Marathon Asset Management; $1.3M battery purchase by Duke Energy

Green Car Congress

a manufacturer of electric-mobility solutions to the transportation sector ( earlier post ), closed a $35-million financing with Marathon Asset Management. The remaining $25 million will function as a revolving credit facility from which Workhorse may draw down as necessary to meet existing and future purchase orders.

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T&E: Denmark, Luxembourg, Netherlands lead deployments of zero-emission buses in Europe

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In Sweden, Norway and Finland, respectively 26%, 24%, and 23% of urban buses registered in 2019 were zero-emission (electric or hydrogen). In 2019, less than 10% of their newly-registered urban buses were electric or hydrogen. However, Germany is now financing 80% of the higher purchase cost of e-buses.

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Electric Vehicle Spotlight: Financing Tesla Cybertruck 

EV Life

In this article, we’re going to check out some of the specs, design, and performance of the Tesla Cybertruck and show you how you can save money on one by financing through EV Life. The Inflation Reduction Act of 2022 outlined a federal EV tax credit of up to $7,500 for qualified drivers looking to purchase an EV. And plenty more !

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EV Life is awarded CalSEED grant from the California Energy Commission to make financing electric cars cheaper than gas vehicles.

EV Life

EV Life was founded in 2019 with a mission to accelerate the adoption of electric vehicles. EV Life’s Climate Loan aims to lower the monthly cost of an EV by up to $200/month. The average California driver qualifies for over $10,000 in EV rebates and tax credits, but incentives can take 12 to 18 months to recoup post-purchase.

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Octillion Power Systems debuts new EV battery-leasing plan

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Octillion Power Systems, a global provider of advanced lithium-ion storage systems for electric mobility ( earlier post ), announced a new demonstrator program for battery-leasing that allows batteries to be leased to fleet customers when they purchase vehicles. Access to the program will be on a first-come, first-served basis.

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Mercedes-Benz will offer electric drive on all commercial van lines; electric eVito now available to order, eSprinter in 2019

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Further model ranges will follow, starting in 2019. The eVito will be followed in 2019 by the eSprinter. If fleet electrification is to compete on equal terms with the classic internal combustion engine, it will need more than the right economic parameters such as the cost of purchasing and operation.

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BNEF: global investment in energy transition hit $500B in 2020; $139B on EVs and infrastructure

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billion, level with 2019 despite falling unit prices. China’s e-bus prices have declined, while annual sales have slowed due to the decrease in purchase subsidies as well as market saturation in large cities. Fuel-cell bus sales drove the decline, falling from $865 million in 2019 to approximately $400 million in 2020.

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