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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.)
The proceeds of the bond will be used to fund the design, development and manufacturing of fullyelectric 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.
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 fullyelectric by 2030, and allocated €290 million to support this objective.
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.
All proceeds are earmarked for funding and accelerating the company’s transformation towards becoming a fullyelectric 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.
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.
The New York City Council passed a bill mandating that the city’s school bus fleet be fullyelectric 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.
Uber and Wallbox, a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, are expanding their partnership nationwide following a pilot program. Phoenix, New York and Boston in February. The Midwest and Southeast in March. The rest of the US, excluding Alaska, in April.
The BMW Group and Great Wall Motor have launched a new joint venture—Spotlight Automotive Limited—and are building a joint plant in China, where the BMW Group will produce future fully-electric models of its MINI brand. Jiangsu is also one of the leading provinces for finance, education and technology.
Lordstown Motors will use the site to build the Endurance, its flagship fully-electric full-size pickup truck designed specifically to serve the commercial fleet market. In November 2019, the Lodstown Motors acquired the Lordstown Complex, formerly a General Motors Corporation (GM) factory.
By switching from diesel-fueled propulsion to fullyelectrically powered transport, an important step can be taken towards realizing the Paris Climate Agreement goals. To make it easier for barge operators to sign-on to the concept, a ‘pay-per-use’ financing model has been developed.
Venture-backed startup Joby Aviation has secured $100 million in Series B financing to take its all-electric vertical take-off and landing (eVTOL) passenger aircraft into pre-production and certification.
E-Transit is the all-electric version of the world’s best-selling cargo van and the new vehicle spearheads the launch of Ford Pro in the region; this new business offers customers a comprehensive suite of software, charging, servicing and financing solutions fully integrated into a portfolio of gas and electric vehicles.
The brand currently has two fully-electric cars in its program. Work on converting the Zwickau plant to be run exclusively as an electric mobility site is already underway, and in addition the plants in Emden and Hanover will switch to the production of electric vehicles from 2022. With the fully-electric ID.1
Assembly is performed at Lightning eMotors’ Loveland, Colorado facility, which is currently ramping up to reach a production capacity of 1,000 electric commercial EVs per year in 2021 and with a goal of 20,000 vehicles per year by 2025.
By the middle of the next decade it expects half its global sales to be fullyelectric and the other half hybrid, supplied by the new unit. Volvo Cars is building an entirely electrified product range, as part of the company’s ambition to put sustainability at the core of its operations. No reductions in the workforce are anticipated.
The first Copenhagen Battery Switch Station in the Danish network—and soon a second one in Amsterdam—are part of a de-carbonization infrastructure project co-financed by the European Union’s TEN-T program, “Greening European Transportation Infrastructure for Electric Vehicles.”
BC Transit in British Columbia, Canada has approved a $20-million contract to purchase ten 40-foot Proterra ZX5 electric transit buses and one Proterra Energy megawatt-scale EV fleet charger as part of the agency’s transition to a fullyelectric bus fleet.
To support customers transitioning to a fullyelectric fleet, Proterra offers a suite of options that enable turnkey delivery of a complete energy ecosystem for heavy-duty electric fleets through Proterra Energy™ fleet solutions, including design, build, financing, operations, maintenance and energy optimization.
The European Investment Bank has signed a €420m financing agreement to help create a fullyelectric Volvo car platform. The post EIB funds €420m to support fullyelectric Volvo car range appeared first on Innovation News Network.
Mitsubishi has confirmed finance offers for its newly available electric car model, the i-MiEV, as Government grants for electric cars come available to UK buyers. The Japanese car maker, one of the first to retail a fullyelectric car in the UK, is offering the new electric car for £399 per month on 48 month [.].
a provider of solar and battery power systems that enable fully-electric Transport Refrigeration Units (eTRUs) for Class 8 commercial trailers. XL Fleet Corp. announced a battery and power electronics development and supply agreement and an investment in eNow, Inc.,
At around €12 billion, we will spend more than ever before on electric mobility by 2024. —Alexander Seitz, Board of Management Member for Finance, China and Legal Affairs at Audi AG. “. By 2025, the Audi Group intends to have more than 30 electrified models in its product range, 20 of which will be fullyelectric.
Volvo Cars said that by the middle of the next decade, it expects to generate half of all sales annually from fullyelectric cars; one third of all cars sold to be autonomous driving cars and half of all cars it offers to customers from its subscription service. Volvo Cars achieved record profits and sales in 2017, with a 27.7%
Applications for the loan program have included vehicles running on electricity, biofuels, and advanced combustion engines, and were submitted by both car and component makers, US automakers, US manufacturing subsidiaries of non-US-based companies, major US auto parts suppliers, and startups. Ford Motor Company will receive $5.9
Under the new agreement with SAIC Maxus, LeasePlan will offer operational leasing solutions for the fully-electric EV80 large panel van to business customers across continental Europe. Maxus is continuing to establish partnerships with large businesses looking to reduce their fleet emissions and vehicle operating costs.
Bcomp, a leading manufacturer of high-performance components made from natural fibers, has closed its oversubscribed Series B financing round of CHF 32.4 million (US$35 million) with commitment from a range of mobility, financial, and impact investment companies.
Audi aims to sell approximately 800,000 fullyelectric cars and plug-in hybrids in the year 2025. Also in electric mobility, we want to become the Number 1 among the premium manufacturers—with full suitability for everyday use, no compromises, top quality and driving pleasure for the customer.
Photo: Jeep Jeep is offering 0% financing for 72 months on the 2024 Wagoneer S EV – but if you want one, don’t wait because it’s only until December 2. This financing offer is available for buyers in the Central, Southern, and Northeastern US, with indications that it may also be available on the West Coast. Get started here. –ad*
By locally integrating its combustion-engine (ICE) and electric vehicle (EV) assembly, American-focused engineering, battery know-how, and software development, Volkswagen aims to drive 55% of US sales to be fully-electric by 2030. Scott Keogh, President and CEO, Volkswagen Group of America, Inc.
FiSyPAC is a collaborative fuel cell reliability project, initiated in 2006, led by PSA Peugeot Citroën, and financed by the French National Research Agency (ANR). This fullyelectric vehicle, based on a Peugeot 307 coupe cabriolet, has a driving range of 500 kilometers (311 miles), with 75 km (47 miles) in charge depleting mode.
China is urging Canada to comply with the World Trade Organization’s (WTO) rules regarding electric vehicle (EV) imports. Last month, Canada’s Department of Finance announced the Government’s intention to impose a 100% tax on China-made EV imports , effective October 1, 2024.
Finance about Elon Musk, EVs, and shared why he thinks Elon Musk deserves the credit for EVs being popular today. Tesla is the leader of the EV market and is the best-selling type of battery-electric vehicle. Tesla is the leader of the EV market and is the best-selling type of battery-electric vehicle.
Our exceedingly robust and solid financial base, enables us to finance the necessary investments on our own. Volkswagen’s Zwickau and Wolfsburg plants will also be transitioned to fully-electric manufacturing facilities. Bentley will also develop a new model at the Hanover site, along with the initial builds of the ID.
“The upgrade to our global credit rating will likely lead to reduced capital financing costs. Kia America reports seeing EV volume double year-to-date S&P Global forecasts that Hyundai and Kia’s balanced portfolio will help it transition to electric vehicles (EVs).
Rapidly improving fitness to lower costs, release capital and finance growth. The company has similarly aggressive plans for China and other markets, as 90% of Ford’s new global vehicles will feature connectivity by 2020. Thus, Ford is attacking costs, reducing automotive cost growth by 50% through 2022.
Volkswagen plans to use the potential Porsche AG IPO proceeds to finance industrial and technological transformation and promote growth. VW Group has seen some success with its all-electric ID lineup. The fullyelectric Porsche Taycan seems to have seen similar success.
That is, owners will not start using new fuels if infrastructure is not available, and energy providers will not finance expensive infrastructure without first securing customers. Enhancing the role of electricity on ships will contribute towards improved energy management and fuel efficiency on larger vessels.
Plug’n Drive has a Find Your Match app to browse and compare vehicles, cost savings, and incentives available across Canada, including the federal $5000 incentive for the purchase of a fullyelectric or plug-in hybrid electric car. Driving an electric car can save you between $1,500-$2,000 per year on fuel and maintenance.
It accounts for 20 to 30 percent of value-added for fullyelectric vehicles. To ensure they can be financed, operational excellence is to be increased significantly across all divisions and functions. This policy decision has already been made. After all, battery technology is the key to e-mobility.
Which luxury electric SUV would you choose, the Acura ZDX or Cadillac Lyriq? After slashing financing rates, the Acura ZDX may be a better buy than the Cadillac Lyriq or Chevy Blazer EV. With up to $7,200 off a fully loaded ZDX, Acura looks to take a piece of the EV market. financing deal. for up to 48 months.
Ford’s award will help finance a number of engineering advances to traditional internal combustion engines and electrified vehicles. Nissan meanwhile, has received money to produce electric cars and battery packs at its manufacturing facility in Tennessee.
Both are also slated to be offered with fullyelectric and gasoline range-extended powertrains. Those targeted prices are far below the current listed base price of $309,000 for Faraday’s only production model thus far, the FF 91 electric SUV. Faraday promised additional updates about the FX rollout at CES.
BYD and Levo announced their collaboration to integrate Nuvve’s leading vehicle-to-grid technology with a mix of BYD battery electric vehicles (“BEVs”) and plans for the joint deployment of up to 5,000 BEVs over the next five years. BYD was expanding its footprint in the US with a fullyelectric school bus capable of bidirectional charging.
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