article thumbnail

China publishes plan to boost fuel-efficient and new energy vehicles and domestic auto industry; targeting 500K PHEVs and EVs in 2015, rising to 2M by 2020

Green Car Congress

China has made progress with automotive energy-saving technologies over the past 10 years through implementing passenger car fuel consumption limits and the use of fiscal policy to encourage the purchase of small cars, the government statement noted. 2012 Chinese Auto Industry Development Report.

article thumbnail

US Treasury To Provide Up To $5B in Financing For Auto Supplier Support

Green Car Congress

While the President’s Task Force on the Auto Industry continues to review restructuring plans submitted by General Motors and Chrysler, the US Department of the Treasury announced an Auto Supplier Support Program that will provide up to $5 billion in financing to US-based suppliers.

Financing 150
article thumbnail

AlixPartners study finds post-crisis auto industry facing new set of challenges; sales projected below historical levels for foreseeable future

Green Car Congress

AlixPartners also estimates that on-going unemployment and underemployment could cost the auto industry up to 1.5 According to the study, historically, approximately one of every five vehicles sold is financed by home-value appreciation, a ratio that’s likely to decrease with the continuing stagnancy in home values.

article thumbnail

The Auto Industry Must Aim 100% Electrification In 2 & 3-wheeler Segments Says Amitabh Kant

Get Electric Vehicle

When that occurs, the initial cost of purchasing an EV without a FAME subsidy will be less than that of an equivalent internal combustion engine vehicle. He did agree, however, that the EV sector still confronts hurdles in terms of financing these vehicles. . “It has dropped by more than 100% in the last five to six years.

article thumbnail

Toyota Financial Services issues first Euro-denominated Green Bond allocated specifically to the sales of low-emission vehicles; €600M

Green Car Congress

The €600-million (US$704-million) bond will be used to fund the acquisition of new retail finance contracts and beneficial interests in lease contracts for Toyota and Lexus vehicles that meet specific clean air criteria, including powertrain, fuel efficiency and emissions. Qualifying Lexus vehicles include the CT 200h and ES 300h.

Toyota 150
article thumbnail

Hyundai will ‘take the bull by the horns’ with a new EV brand in the world’s biggest market

Baua Electric

Although reports claimed Hyundai would produce EVs under the Chinese automaker’s Arcfox brand in October, those plans have since fallen through over financing. Late last year, Hyundai sold its plant in Chongqing for $225 million, less than half of what it purchased it for. FTC: We use income earning auto affiliate links.

Hyundai 52
article thumbnail

Tesla replays DOE loan nine years early

Green Car Congress

Elon Musk, Tesla’s Chief Executive Officer and cofounder, purchased $100 million of common equity, the least secure portion of the offering. The Department first offered loans to Tesla and other auto manufacturers in June 2009, when car companies couldn’t get other financing and many people questioned whether the industry would survive.

Tesla 334