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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.

Financing 259
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Pace purchases 20 Proterra ZX5 electric buses and EV fleet charging infrastructure

Green Car Congress

The 40-foot Proterra ZX5 Max selected by Pace features 675 kilowatt hours (kWh) of energy storage—the most onboard energy storage available in an electric transit bus on the road in North America today. Proterra 40' ZX5 Max.

Fleet 448
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Bloomberg New Energy Finance forecasts plug-in electric vehicles could account for up to 9% of US auto sales in 2020 and 22% in 2030

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million and 4 million vehicle sales respectively), according to research company Bloomberg New Energy Finance (BNEF). The second step models the proportion of consumers within the addressable market that might actually purchase such a vehicle. However, actual sales will be much lower and limited by vehicle availability.

Plug-in 283
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AeroVironment EV dealer program bundles home charger, installation, and warranty with car purchase

Green Car Congress

launched a dealer program that provides turnkey residential charging packages to consumers purchasing new electric vehicles (EVs) or plug-in hybrids (PHEVs) and allows them to finance the charger in combination with the vehicle at the time of sale. AeroVironment, Inc.

Dealers 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
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DOE to fund development of processes to aggregate purchases of alt-fuel and advanced vehicles; goal is cost reduction and accelerated adoption

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DOE plans ( DE-FOA-0001236 ) to issue in the February 2015 timeframe a funding opportunity (DE-FOA-0001237) to develop and to implement effective purchasing/procurement processes designed to coordinate and consolidate bulk alternative fuel vehicle and advanced vehicle orders and thus reduce the per-unit prices of commercially-available vehicles.

Purchase 199
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A123 Systems receives interim court approval of $50M DIP financing from Wanxiang; responds to objections from Wanxiang, Fisker and others on asset sales process

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announced that the United States Bankruptcy Court for the District of Delaware (the "Court") has granted A123 interim approval to use $50 million of Debtor-in-Possession (DIP) financing, which is being provided by Wanxiang Group Corporation (Wanxiang). The financing supplements the pre-petition $22.5 Li-ion maker A123 Systems, Inc.

Financing 225