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Workhorse receives purchase order from Pride Group Enterprises for 6,320 C-Series electric delivery vehicles

Green Car Congress

Workhorse Group has received a purchase order for 6,320 C-Series all-electric delivery vehicles from Pride Group Enterprises, a company with businesses in transportation equipment retail, wholesale, rental, leasing and logistics. Inventory financing for that deal is also being provided by Hitachi Capital America. Interior Volume.

Purchase 243
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XPeng enters into cooperation agreement for new smart EV manufacturing base in Guangzhou; $586M in financing

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Chinese EV contender XPeng announced that its wholly owned subsidiary in China, Guangdong Xiaopeng Motors Technology Co., Early in August, Xpeng reported closing a US$900-million C+ financing round. entered into a cooperation agreement with Guangzhou GET Investment Holdings Co.,

Financing 170
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Firefly & Hyundai Motor America create pilot program to offer rideshare fleets & drivers new vehicles with bonus income up to $3,600/year

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With opportunities for drivers to earn additional income upon purchasing a new vehicle by having Firefly’s smart display screen technology integrated onto and inside each vehicle, Hyundai Drive by Firefly could help cover monthly car lease/financing costs for qualified drivers and fleets for the duration of the program.

Hyundai 170
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American Suzuki Motor receives bankruptcy court approval of up to $100M in Debtor-In-Possession (DIP) financing

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American Suzuki Motor Corporation (ASMC) has received court approval for Debtor-In-Possession (DIP) financing. As a result, the Company will be able to borrow up to $50 million for operations and up to $50 million for purchases of inventory from Suzuki Motor Corporation (SMC). Earlier post.) Earlier post.)

Suzuki 218
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Tesla tweaks financing product with best resale value guarantee and lower monthly payments

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In response to critiques of the first version of its financing program introduced early in April ( earlier post ), Tesla Motors has raised the Model S resale value guarantee to be the highest of any premium sedan brand made in volume (excludes rare, low volume or limited edition vehicles). —Tesla Co-founder & CEO Elon Musk.

Financing 218
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PHEV conversion company Echo Automotive completes $3M financing, joins CALSTART

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a developer of technologies enabling the conversion of existing fleet vehicles into plug-in hybrid electric vehicles, completed a $3-million financing with United Fleet Financing, LLC, through a private placement offering and mezzanine financing. Echo Automotive, Inc., The terms of this note include conversion features at $0.55

Financing 218
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Tesla introduces financing product for Model S customers; lease-sale hybrid

Green Car Congress

Tesla Motors, in partnership with Wells Fargo and US Bank, has created an automotive financing product that combines elements of ownership and leasing for Model S customers. Elements of the new program include: US Bank and Wells Fargo have agreed to provide 10% down financing for purchase of a Model S (on approved credit.).

Financing 210