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Bentley CEO: Rich People Felt Bad About Showing Off, Causing Drop in Sales

The Truth About Cars

The Drive reached out to Bentley, and found that the company’s customers have no problem affording its cars, but at least part of the sales slowdown is due to buyers’ “level of emotional sensitivity that slowed down demand.” Of course, we can take this conversation in a few different directions.

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Northern Lights Energy signs LOI to purchase 1,000 AMP electric SUV conversions over 5 years

Green Car Congress

Under terms of the letter of intent, subject to various conditions described below, NLE committed to purchase 1,000 all-electric SUVs from AMP over a five-year period. It is the intention of NLE to purchase a variety of all-electric SUVs from AMP for utilization within fleet operations as well as for re-sale within the its market region.

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Nikola announces $200M convertible senior notes investment; approx. $1B cash and liquidity position

Green Car Congress

Nikola Corporation announced that an institutional investor has agreed to make a $200-million investment in Nikola through the purchase of Convertible Senior Notes. Funds advised by Antara Capital LP have agreed to purchase $200 million aggregate amount of 8.00% / 11.00% Convertible Senior Notes due 2026.

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

Green Car Congress

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. The terms of this note include conversion features at $0.55 Echo Automotive, Inc.,

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Energy Conversion Devices files Chapter 11, seeks sale of businesses; Ovonic Battery Company sold to BASF Corporation

Green Car Congress

51-year-old Energy Conversion Devices, Inc. As part of its bankruptcy plan, ECD intends to sell through separate sales its wholly owned operating subsidiary United Solar Ovonic LLC (USO) and other assets, including its minority stake in Ovonyx, Inc. Sale of United Solar. Earlier post.) joint venture. Chapter 7 for SIT.

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Tesla again offering $1,000 discount to buyers with Cybertruck reservations

Teslarati

Tesla has re-introduced a discount on new vehicle purchases for those who have an early Cybertruck reservation, once again offering $1,000 off of the purchase or leasing price of certain models. “Tesla: You loved it, so we brought it back,” wrote the automaker in text messages to those awaiting a Cybertruck order.

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Study finds car dealerships pose significant barrier to EV adoption

Green Car Congress

A new study by a team from Aarhus University in Denmark has found that car dealerships pose a significant barrier to electric vehicle adoption at the point of sale due to a perceived lack of business case viability in relation to gasoline and diesel vehicles. Their study is published in the journal Nature.

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