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Toyota's 'green bond' an industry first, quickly rises to $1.75 billion

Toyota is greasing the skids for more green car purchases with the announcement of a $1.75-billion bond designed to finance the purchase of high-efficiency Toyota and Lexus models. The Asset-Backed Green Bond is a first for the automotive industry and is making a lot of money available to buy or lease the following vehicles: any of the four Prius variants, Camry Hybrid, Avalon Hybrid, RAV4 EV, Lexus CT 200h and Lexus ES 300h. Originally, the bond was set at $1.25 billion, but Justin Leach, manager of public relations for Toyota Financial Services (TFS), told AutoblogGreen that demand was high and it was quickly oversubscribed. TFS has been looking at more ways to diversify its portfolio after a Diversity & Inclusion Bond that was announced in early 2013 and, with the new Green Bond, TFS is offering something for the "number of investors out there who are looking for investment opportunities in green." The way the money from the bond is used, basically, is that TFS takes the $1.75 billion and uses it to finance the purchase or lease of the nine vehicles listed above. As of right now, all the eligible vehicles are plug-in or hybrids, but the rules simply say that the cars in the program have to meet certain "powertrain, fuel efficiency and emissions" criteria. That means: Minimum EPA estimated MPG (or MPG equivalent for alternative fuel vehicles) of 35 city / 35 highway California Low-Emission Vehicle II (LEV II) certification of super ultra-low emission vehicles (SULEVs) or higher, which would include partial zero emissions vehicles (PZEVs) and zero emissions vehicles (ZEVs). TFS raises plenty of billions in other ways for the rest of the lineup, and got into asset backed securities in 2010, Leach said. Given the success of this first Green Bond, Leach said he expects TFS to keep this idea in its arsenal. "This one was so well received, I would be surprised if we didn't see it again," he said. "If anyone was going to do it, it should be Toyota, right?" Toyota Financial Services (TFS) Issues Auto Industry's First-Ever Asset-Backed Green Bond Bond Proceeds to Fund Consumer Loans and Leases for Toyota's Leading Portfolio of Green Vehicles TORRANCE, Calif., (March 24, 2014) – Toyota Financial Services (TFS) issued the auto industry's first-ever Asset-Backed Green Bond in the amount of $1.75 billion.

Lexus to reveal production NX crossover at Beijing in April

At the Frankfurt Motor Show last year, Lexus rolled out a concept crossover called the LF-NX. It then brought it back, with a new paint job and a turbocharged engine, at the Tokyo Motor Show a few months later. We got another glimpse a couple of months after that during a presentation from Jim Lentz. But now Toyota has confirmed that the finalized production version is just around the corner.
While all the attention is affixed on the Geneva Motor Show, Toyota released a statement (which you can read below) announcing that the NX (as it will officially be known) will debut next month at the Beijing Motor Show. Set to be positioned below the RX, the new NX will tackle what Lexus terms as "the growing segment of premium compact crossovers," taking on the likes of the Audi Q3, BMW X1 and Mercedes-Benz GLK.

Will.i.am and Lexus make music on a runway with frickin' lasers

There's no doubt that an engine can make some fabulous sounds, but they don't technically fit the definition of music. In a spectacular recent stunt from Lexus, Will.i.am, and a huge team of technicians, a trio of NX CUVs actually became an instrument while driving down a runway to play the artist's song #thatPOWER. All that was necessary to get it done was the help of a whole lot of lasers and some very precise driving. The team rigged up 350 audio-sensitive lasers and lights to make this stunt possible, and it essentially turned the runway into a real-world version of the Rock Band video game interface. The three NXs needed to drive not only in the right location but also at the right speed to keep the song's tempo going. While what you see here was reportedly shot in just one night, setting everything up took 65 people over seven days. The awesomely named light artists, Marshmallow Laser Feast, designed the actual layout. The end result of all of the hard work definitely looks impressive in this video, but it also appears like this was a very difficult stunt to actually get right. A lot of the faces at the end of the clip were wearing a look of relief of finally doing things successfully. will.i.am AND LEXUS CREATE LASER AND SOUND SPECTACULAR ON EPIC STREET 'STAVE' FRONTMAN CHALLENGED TO NAVIGATE GIANT VISUAL INSTRUMENT IN ALL NEW LEXUS NX Brussels 30th July 2015 - #NXontrack - Lexus Europe, today unveiled an innovative audio-visual film which sees global entrepreneur and musician, will.i.am challenged to create a remix of one of his most iconic tracks, #thatPOWER in a breath-taking music, art and technology spectacular. . Played out on a disused runway lined with more than 350 projected mapped motion and audio sensitive lasers and lights, the front-man battles against speed and rhythm to conduct and navigate a trio of striking Lexus NXs', hitting the laser 'targets' at the correct tempo to synchronise with his smash hit. The unprecedented live event, shot in one night last week, sees the musician's skills put to the test as he joins three stunt drivers including 2013 Blockbuster, Rush frontman, Niki Faulkner, to take on the colossal 'sound-road', race against rhythm and successfully complete the challenge in the limited hours of darkness available before the sun rises. Speaking about the video, will.i.am said: "Working with the stunt guys to hit the laser targets in time with the music wasn't easy to get right but the result was awesome.