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Volkswagen committing $7.1B to boost product line-up, R&D, manufacturing in North America; targeting 55% BEV sales by 2030

Green Car Congress

Currently, more than 90% of Volkswagen’s vehicle portfolio for North America is assembled in North America, including the Atlas and Atlas Cross Sport SUVs in Chattanooga, TN, as well as Tiguan, Taos and Jetta in Puebla, Mexico. Volkswagen aims to strengthen these capabilities in its pivot to electric mobility.

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Iveco Group acquires full control of Nikola Iveco Europe

Green Car Congress

Nikola is granted the IVECO S-Way technology license for North America and related component supply from Iveco Group, and gains joint ownership of the intellectual property of Generation 1 eAxles, technology developed together with Iveco Group’s powertrain brand, FPT Industrial.

Europe 395
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Ford, Ford Credit introduce sustainable financing framework prioritizing EV, clean production, community investments

Green Car Congress

Ford Motor Company and its financing subsidiary, Ford Motor Credit Company, introduced the North America auto industry’s first sustainable financing framework, focusing on and paying for ambitious plans in vehicle electrification and other environmental and social areas. Vigeo Eiris, an arm of Moody’s Corp.,

Financing 170
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Tesla launches limited-time 0.99% APR loan rate on U.S. Model Y orders

Teslarati

On Friday night, Tesla launched the promotional financing on its website for the Model Y, offering a 0.99 percent APR interest rate for buyers who finance the electric vehicle (EV) on an order placed by May 31. Last year, the Model Y became the world’s best-selling vehicle , according to data from JATO Dynamics.

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Graphex and Northern Graphite partner on large-scale graphite processing facility site evaluations in Québec

Green Car Congress

Graphex Technologies LLC, the US subsidiary of Graphex Group Limited, and Northern Graphite Corporation announced that Graphex will participate in Northern’s previously announced selection process for a site suitable for the construction of a large-scale graphite processing facility in Baie-Comeau, approximately 420 km north-east of Québec City.

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California JETSI to deploy 100 battery-electric regional haul and drayage trucks

Green Car Congress

The project, known as Joint Electric Truck Scaling Initiative, or JETSI, is the largest commercial deployment of battery-electric trucks in North America to date. This is the first battery-electric truck project jointly financed by CARB and the CEC, and the largest investment of its kind.

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GE Capital to provide financing for electric motorcycle maker Brammo

Green Car Congress

GE Capital’s Commercial Distribution Finance (CDF) business has agreed to provide Brammo Inc. with inventory financing to support the expansion of its dealer network in the US. CDF already provides inventory financing for other brands of alternative fuel and hybrid motorsports products.