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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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Plug-in electric vehicles, including plug-in hybrids and battery electric vehicles, have the potential to make up 9% of US auto sales in 2020 and 22% in 2030 (1.6 million and 4 million vehicle sales respectively), according to research company Bloomberg New Energy Finance (BNEF). Last week, J.D. Earlier post.)

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Volvo Cars successfully places first green bond, raises €500M

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The proceeds of the bond will be used to fund the design, development and manufacturing of fully electric cars in line with the company’s recently established Green Finance Framework. A green bond is a type of fixed-income instrument that is specifically earmarked to raise money for climate and environmental projects.

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T&E: Denmark, Luxembourg, Netherlands lead deployments of zero-emission buses in Europe

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However, Germany is now financing 80% of the higher purchase cost of e-buses. Poland announced that in cities with populations of 100,000 or more, all public transport will be fully electric by 2030, and allocated €290 million to support this objective.

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ADB leads $135M climate financing package for VinFast e-bus fleet and EV charging network in Vietnam

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The Asian Development Bank (ADB) mobilized a $135-million climate financing package for VinFast Trading and Production Joint Stock Company (VinFast) for manufacturing Vietnam’s first fully-electric public transport bus fleet and first national electric vehicle (EV) charging network.

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Volvo Cars raises €500M for electrification through second green bond issue

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All proceeds are earmarked for funding and accelerating the company’s transformation towards becoming a fully electric carmaker by 2030 and becoming climate-neutral and circular by 2040. Volvo Cars was the first established car maker to commit to full electrification and aims to sell only pure electric cars by 2030.

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Jing-Jin Electric and Allison Transmission partner to accelerate development of commercial vehicle electrified powertrain solutions for global markets

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In addition, Allison has committed to provide debt financing in support of JJE North America’s commercial vehicle electric drive product development, testing and manufacturing acceleration efforts.

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New York City Council passes bill mandating all city school buses be electric by 2035

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The New York City Council passed a bill mandating that the city’s school bus fleet be fully electric by 1 September 2035. The bill passed with 44 votes in favor and one vote against. Mayor Bill de Blasio is expected to sign the bill into law.