Terra Motors partners Pooja Finelease Ltd. for electric vehicle financing

Electric Vehicles India

Terra Motors partners Pooja Finelease Ltd. for electric vehicle financing. Terra Motors a leading electric vehicles manufacturer in India has partnered with Pooja Finelease Ltd. India’s leading non-banking finance company for electric vehicle financing.

McMaster switched reluctance motor spinout Enedym closes $15M funding round

Green Car Congress

Enedym, a switched reluctance motor (SRM) spinout from McMaster University, closed a $15-million financing round from an international group of strategic investors within the US, Canada, Europe, and India, including P&A Paletta Giving Inc., The new investment will be used to accelerate Enedym’s patented motor development technology and increase its footprint within the electric motor market. Electric (Battery) Motors

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Proton Motor Fuel Cell and Aumann AG expand partnership to series production of hydrogen fuel cells

Green Car Congress

Since 2017, Proton Motor Fuel Cell GmbH has been working with Aumann AG as part of the larger EU program “ Fit-4-AMandA ” (Fit for Automatic Manufacturing and Assembly) on hydrogen fuel cell stack production with financing from the agency FCH JU (Fuel Cells and Hydrogen Joint Undertaking).

Senate Finance Committee Approves $12,500 EV Tax Credit Bill

The Truth About Cars

On Wednesday, the Senate Finance Committee advanced the Clean Energy for America Act making a few tweaks from earlier proposals. It’s good news for General Motors, which recently begged the government for just […].

Technology Credit Union announces financing relationship with Tesla Motors

Green Car Congress

Tech CU (Technology Credit Union) is working with Tesla Motors as a preferred financing partner for their Model S, Model X and Roadster electric vehicles, offering up to 100% financing with a competitive annual percentage rate (APR). Tesla is also a Tech CU Member Company; Tech CU provides Tesla employees with resources that include personal and business banking, commercial lending and comprehensive wealth management services that include investing and financial planning.

2014 204

Chevy offers 0% financing on used Bolt EV and Volt

Green Car Reports

General Motors is offering 0% APR financing for 72 months on used Chevrolet Bolt EV electric cars and Chevy Volt plug-in hybrids, reports CarsDirect, which cited a bulletin sent to dealerships last week.

Electric pickup startup Lordstown Motors goes public via SPAC; $1.6B transaction

Green Car Congress

Lordstown Motors Corporation, a startup developing an all-electric pickup truck serving the commercial fleet market, merged with DiamondPeak Holdings Corporation, a special purpose acquisition company (SPAC). The $1.6-billion transaction provides Lordstown Motors with $675 million of gross proceeds. In November 2019, the Lodstown Motors acquired the Lordstown Complex, formerly a General Motors Corporation (GM) factory.

2020 260

Hyundai Motor partners with regional firms to establish H2 fuel cell commercial vehicle ecosystem in China

Green Car Congress

Hyundai Motor Company is spearheading the development of a hydrogen fuel cell commercial vehicle ecosystem in China with regional partners. Hyundai Motor signed an MOU with Shanghai Electric Power Co.,

2020 299

Tesla Motors Announces New Stock Sale Of $500 Million

Green Car Reports

It had to come, and it did: Tesla Motors is selling more stock to bolster its cash position as it prepares to launch its second high-volume electric car. Finance Elon Musk Tesla Motors plug-in cars Stock MarketThe California company announced this morning it would offer $500 million in new common stock And, the company noted, CEO Elon Musk "intends to purchase $20 million of common stock in this.

2015 127

Infinitum Electric closes $1.8M Series A to bring new electric motor technology to market; increasing R&D for EV applications

Green Car Congress

Infinitum Electric , developer of ultra high-efficiency, durable, lightweight and cost-effective electric motors built with patented printed circuit board (PCB) stator technology and integrated control systems, has closed a $1.8-million Series A round of financing, led by Cottonwood Technology Fund (CTF). million in funding, and plans to leverage the new financing to launch an HVAC-specific, fully-integrated motor. Electric (Battery) Motors

2019 221

XPeng enters into cooperation agreement for new smart EV manufacturing base in Guangzhou; $586M in financing

Green Car Congress

Chinese EV contender XPeng announced that its wholly owned subsidiary in China, Guangdong Xiaopeng Motors Technology Co., According to the terms of the Cooperation Agreement, Guangzhou GET Investment agrees to provide RMB 4 billion (US$586 million) in financing to help fuel XPeng’s growth as well as support the construction of a new smart EV manufacturing base for XPeng in the Guangzhou Economic and Technological Development Zone.

2020 161

UQM Technologies closes $5.3M financing

Green Car Congress

UQM Technologies, a developer of and manufacturer of power-dense, high-efficiency electric motors, generators and power electronic controllers for the automotive, commercial truck, bus and military markets, completed a $5.3-million capital raise through institutional investors.

DOE not proceeding with ATVM loan for Carbon Motors; company exploring strategic and financing alternatives

Green Car Congress

Carbon Motors Corporation, developer of a diesel-engined law enforcement vehicle ( earlier post ), announced that the US Department of Energy (DOE) has indicated that it will not proceed with Carbon’s $310 million application for a direct loan under the Advanced Technology Vehicle Manufacturing (ATVM) program. The company says it is now actively examining its strategic and financing alternatives in support of its goal.

2012 200

Hyundai Motor to establish hydrogen refueling station for fuel cell electric buses at Incheon Airport with partners, provide buses

Green Car Congress

Hyundai Motor Company is partnering with Incheon International Airport Corporation (IIAC), Air Liquide Korea and Hydrogen Energy Network (HyNet) to establish a hydrogen refueling station for fuel cell electric buses at Incheon Airport’s Terminal 2 by March 2021.

2020 311

Hyundai Motor Group deepens partnership with Grab to accelerate EV adoption in Southeast Asia

Green Car Congress

Hyundai Motor Group and Grab Holdings Inc. The Group—including Hyundai Motor Company and Kia Corporation—and Grab will further develop new pilots and initiatives that lower the barriers of entry for Grab driver and delivery-partners to adopt EVs, such as lowering the total cost of ownership and reducing range anxiety. Hyundai Motor Group has expanded its presence in Southeast Asia to foster new mobility innovation.

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Toyota Motor Europe strengthens strategic alliance with CaetanoBus and Finlog in fuel cell bus business

Green Car Congress

Toyota Caetano Portugal (TCAP), the joint venture of Toyota Motor Europe (TME) and Salvador Caetano, strengthened its strategic alliance with CaetanoBus and Finlog by becoming the direct shareholder of the two Portuguese companies.

2020 209

Rivian introduces two quad-motor, AWD “Electric Adventure Vehicles”

Green Car Congress

The Rivian vehicles feature up to 400+ miles in electric range, a wading depth of 1 meter, lockable storage bins that can fit the bulkiest of gear, and the performance and precise control of quad-motor AWD. Rivian’s vehicles also feature a quad-motor system that delivers 147 kW with precise torque control to each wheel, enabling active torque vectoring and maximum performance in every situation, from high-speed cornering to low-speed rock crawling.

2018 248

American Suzuki Motor receives bankruptcy court approval of up to $100M in Debtor-In-Possession (DIP) financing

Green Car Congress

American Suzuki Motor Corporation (ASMC) has received court approval for Debtor-In-Possession (DIP) financing. As a result, the Company will be able to borrow up to $50 million for operations and up to $50 million for purchases of inventory from Suzuki Motor Corporation (SMC). These funds will help ensure that ASMC has the cash necessary to operate its business during the pendency of the chapter 11 case. Earlier post.)

2012 191

Elio Motors launches crowdfunding investment opportunity

Green Car Congress

Elio Motors, the developer of the three-wheeler Elio, has launched a crowd-funding initiative as the next phase in its fundraising strategy. Individuals interested in learning more about the Elio Motors investment opportunity can go to StartEngine.com , the crowd-funding website launched today by business incubator Start Engine. Elio Motors is one of seven companies utilizing StartEngine.com. Elio Motors expects to sell the anticipated 84 mpg vehicle for $6,800.

2015 192

Lucid Motors adds former Waymo Treasurer as CFO as company prepares to go public


Lucid Motors has announced that it has appointed former Waymo Treasurer and Head of Investor Relations Sherry House as its Chief Financial Officer ahead of the automaker’s decision to become a publicly-traded company. Sherry House: Lucid Motors’ new Chief Executive Officer.

200 Years Ago, Faraday Invented the Electric Motor

Cars That Think

After Faraday [left] failed to acknowledge his mentor, Humphry Davy [right], in an 1821 paper on the electric motor, Davy accused him of plagiarism. Soon, people were snatching up pocket-size motors as novelty gifts. In 1820, the Danish physicist.

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BMW Group to build future MINI E vehicles in China with Great Wall Motor

Green Car Congress

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.

2019 232

Report Finds That Urgent Changes in Transport Financing Required to Enable More Sustainable Transportation Globally

Green Car Congress

Changes in how transport is financed are essential if cities and nations are to deal effectively with the rapid growth in motor vehicle traffic and related environmental and health problems, including climate change, according to a new report by the Transport Research Laboratory released at Fifth Regional EST Forum in Asia by the Institute for Transportation and Development Policy (ITDP) and the Partnership for Sustainable Low Carbon Transport.

Chinese EV company Xpeng Motors raises US$400M in Series C; Xiaomi strategic investor

Green Car Congress

China-based Xpeng Motors has closed a US$400-million Series C capital funding from a group of strategic and institutional investors. Xiaomi Corporation and Xpeng Motors have achieved significant progress through in-depth collaboration in developing technologies connecting smart phones and smart cars. Xiaomi’s experience and insight in consumer behavior, technology knowhow and market trends can add tremendous value to what Xpeng Motors is set to achieve.

2019 179

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 EchoDrive conversion system comprises a 30 kW traction motor; modular Li-ion battery pack built with 2.2 Echo Automotive, Inc.,

2013 191

Niron Magnetics raises $21.3M to commercialize rare-earth-free iron-nitride magnets

Green Car Congress

million in new financing. Surging global demand for electric vehicles (EVs) and other motorized devices has highlighted global dependency on the unsustainably-produced rare earth materials currently required for the magnets needed in electric drivetrains and motors.

Tesla Motors posts first quarterly profit

Green Car Congress

The lease accounting treatment for cars sold through the new financing plan (earlier post) will have no impact on cash flows. Tesla reached profitability in the first quarter of 2013 for the first time in its ten year history. According to the shareholder letter, the company exceeded its targets for deliveries; significantly expanded gross margin; and improved execution throughout the company. Excluding non-cash warrant and stock option items, the company generated a profit of $15 million.

2013 258

Pinnacle Engines appoints Asian Business Advisory Board; closes Series C financing

Green Car Congress

Pinnacle Engines also announced closure of its Series C financing, bringing total investment in the company to more than $30 million. Pinnacle Engines’ Asian Advisory Board members are: Phil Murtaugh: An experienced Asian automotive leader, Phil joins the Advisory Board after spending 33 years at General Motors, culminating in his position as Chairman and CEO of GM China Group.

2014 240

Further help confirmed for car finance consumers still facing coronavirus difficulties

Green Cars News

The Financial Conduct Authority (FCA) has confirmed support will continue for motor finance consumers facing payment difficulties due to coronavirus (Covid-19), including a ban on repossessions until 31 October 2020

2020 63

Hyundai Motor Group invests $300M in India’s largest mobility service provider Ola

Green Car Congress

Hyundai Motor Group and India-based Ola—one of the world’s largest ride-hailing platforms— announced a strategic partnership under which Hyundai Motor Company and Kia Motors Corporation will make their biggest combined investment to date, as part the Group’s continued efforts to become a Smart Mobility Solutions Provider. —Euisun Chung, Executive Vice Chairman of Hyundai Motor Group.

2019 170

Allison Transmission makes strategic equity investment in Jing-Jin Electric Technologies

Green Car Congress

Allison Transmission will participate in the initial public offering (IPO) of Jing-Jin Electric (JJE), a leader in electric motor, inverter, and integrated electrified propulsion systems within China—the largest electric vehicle market in the world. China Market Background Motors Power Electronics

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

Green Car Congress

The companies will leverage JJE’s leadership in electric motor and inverter development and its strong presence in the Chinese commercial vehicle electrified powertrain market, while harnessing Allison’s deep experience and investments in fully electric and electric hybrid commercial duty propulsion systems, commercial vehicle duty cycle expertise, global OEM relationships, and a worldwide distributors and dealers channel. China Electric (Battery) Heavy-duty Motors Vehicle Systems

Tesla tweaks financing product with best resale value guarantee and lower monthly payments

Green Car Congress

In response to critiques of the first version of its financing program introduced early in April ( earlier post ), Tesla Motors has raised the Model S resale value guarantee to be the highest of any premium sedan brand made in volume (excludes rare, low volume or limited edition vehicles). Buying a Model S through the Tesla financing offering now comes with a guarantee that the resale value will be higher than that of BMW, Audi, Mercedes, Lexus or Jaguar.

2013 191

YASA Motors secures $8.2 million in new funding

Green Car Congress

YASA Motors, the manufacturer of highly differentiated advanced axial flux motors and generators based on its Yokeless And Segmented Armature (YASA) technology ( earlier post ), has raised £5 million (US$8.2 million) in new financing from a combination of existing and new investors. The YASA 750 and YASA 400 axial flux motors achieve power densities of up to 10 kW/kg and torque densities which are significantly better than the nearest competitive motor topology.

2014 179

Coskata Inc. completes first close of Series D financing round

Green Car Congress

a developer of technology for the production of advanced biofuels and biochemicals from biomass and waste materials, announced a first close of its Series D round of financing. The major investors from previous rounds participated, including The Blackstone Group, Khosla Ventures, Total Energy Ventures International (part of Total, one of the world’s major Oil and Gas groups), ATV, Globespan Capital Partners, General Motors, Arancia, and Sumitomo. Coskata Inc.,

Hyundai Motor Group Deepens Partnership with Grab to Accelerate EV Adoption in Southeast Asia

EV Obssesion

The post Hyundai Motor Group Deepens Partnership with Grab to Accelerate EV Adoption in Southeast Asia appeared first on EV Obsession.

Asia 56

Tesla has become a U.S. Big Three carmaker (by market value)

Green Car Reports

Tesla Motors has spent more than 10 years beating the odds for startup automakers. Finance General Motors Tesla Motors plug-in cars Stock Market Fiat Chrysler Automobiles (FCA Most new, independent makers barely survive long enough to produce a handful of vehicles, let alone sell more than 100,000 and garner praise from both customers and the media—as the electric-car startup has done. Now the Silicon Valley automaker can claim.

2017 99

Opposed-piston engine company Achates Power raises $35.2M in Series C Financing; new industry advisory board

Green Car Congress

million in Series C financing. The Series C financing follows a $19-million Series B round in 2009 and brings the total raised by Achates Power to nearly $90 million since its 2004 founding. Daniel Hancock, retired vice president, global powertrain engineering, who spent more than four decades at General Motors Co. Achates Power, Inc., the developer of a family of two-stroke compression-ignition opposed-piston engines ( earlier post ), has finalized $35.2

2013 204

Daimler to take 12% stake in BAIC Motor

Green Car Congress

According to a new binding agreement, Daimler AG will invest in BAIC Motor, the passenger car unit of BAIC Group. Daimler’s investment will take place through the issuance of new shares corresponding to a 12% stake in BAIC Motor. This move comes ahead of an intention by BAIC Motor to launch an initial public offering (IPO) in the future. Daimler’s shareholding in BAIC Motor is subject to the approval by the relevant authorities.

2013 210

PEUGEOT charges ahead with revised pricing and finance offers for PEUGEOT e-2008 and e-208

Drive EV

Both the PEUGEOT e-208 and e-2008 are powered by a 50kWh battery and a 136hp electric motor. The post PEUGEOT charges ahead with revised pricing and finance offers for PEUGEOT e-2008 and e-208 appeared first on driveEV.

GKN and EVO Electric form JV to manufacture electric motors and hybrid and electric drive systems

Green Car Congress

EVO Electric, a developer of advanced electric drive solutions for the automotive sector ( earlier post ), has formed a joint venture with GKN Driveline, part of GKN plc, to develop, manufacture and sell Axial Flux electric motors and drive systems for use in hybrid and electric vehicles. GKN will provide financing in a combination of debt and equity together with engineering and commercial resources to enable the establishment and growth of the joint venture.

2011 196

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.).

2013 185

Tesla May Lose Money Building Electric Cars, Or It May Not

Green Car Reports

One of the most contentious points in coverage of electric-car maker Tesla Motors is its financial performance. Green Elon Musk Finance Loss Profit Tesla Motors plug-in carsOn the one side, analysts and naysayers note that the company continues to lose money. CEO Elon Musk himself has admitted that the company won't turn a profit using Generally Accepted Accounting Principles (GAAP) until 2020 or later.

2015 128