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Workhorse secures $200M in financing from institutional lenders

Green Car Congress

a provider of cost-effective drone-integrated electric vehicles to the last-mile delivery sector, has entered into a note purchase agreement (NPA) under which it will sell $200 million aggregate principal amount of its 4.0% Workhorse Group Inc., Senior Secured Convertible Notes due 2024 to two institutional lenders.

Financing 186
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Bosch and Mitsubishi team up with Blue Park Smart Energy to develop business models for battery swapping; pilot in China

Green Car Congress

Bosch and the Mitsubishi Corporation, with Blue Park Smart Energy (BPSE), are partnering to create Battery as a Service (BaaS) innovations. The main idea here is that fleet operators will no longer have to purchase the batteries; they will simply pay to use them. Bosch cloud services also improve maintenance.

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CODA reaches preliminary agreement with Essex Credit Corporation to finance CODA EVs

Green Car Congress

CODA Automotive and Essex Credit Corporation, a subsidiary of Bank of the West, have reached a preliminary agreement to provide financing for customers of the 2011 CODA Sedan. kWh Lithium iron phosphate (LiFePO 4 ) battery system supports a range of up to 120 miles on the US06 cycle.

Financing 170
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Niti Aayog gives proposal to RBI for electric vehicles purchase loans 

Electric Vehicles India

Niti Aayog gives proposal to RBI for electric vehicles purchase loans . For the faster adoption of electric vehicles in the country, the Reserve Bank of India is considering a proposal from the government’s policy think tank Niti Aayog to categorise loans to purchase electric vehicles under the priority sector lending (PSL) segment.

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DOE offers Ioneer conditional commitment for a loan of up to US$700M for Rhyolite Ridge project

Green Car Congress

The US Department of Energy’s (DOE) Loan Programs Office (LPO) has offered a conditional commitment to lend up to $700 million to Ioneer Rhyolite Ridge LLC to develop a domestic supply of lithium carbonate for electric vehicle (EV) batteries from the Rhyolite Ridge Lithium-Boron Project (Rhyolite Ridge) in Esmeralda County, Nevada.

Nevada 199
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Electrovaya completes C$5M financing; new Office of Chairman

Green Car Congress

Canada-based Li-ion battery maker Electrovaya Inc. completed a financing for C$5 million (US$4.96 note in the aggregate principal amount of C$5 million and 500,000 common share purchase warrants. Each share purchase warrant is convertible into one common share of the corporation. issued to the lender.

Financing 218
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BMW Group investing in lithium extraction company Lilac Solutions

Green Car Congress

The BMW investment was part of Lilac’s just-closed US$150-million Series B financing. New investors in the round in addition to BMW include SK Materials, Presidio Ventures (a Sumitomo Corporation Group Company), MCJ Collective, and Earthshot Ventures.

BMW 236