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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 RC F GT500 is the Super GT car Daft Punk fans will appreciate [w/video]

Lexus Racing's booth designers at the Tokyo Auto Salon clearly loved a certain French electronic music duo when they decided to promote the new Lexus RC F racecar from the Super GT series. The Daft Punk-inpsired race team appeared ready for a pit stop in this promo photo, wearing custom double-breasted suits made from race gear as well as top hats, headphones and reflective sunglasses.
Lexus Racing showed the car in the summer when it was known as the LF-CC, but the Tokyo Auto Salon gave the public the first chance to see the renamed RC F in full race trim. It replaces the aging Lexus SC 430 GT500 car with a sharper, more aggressive racing weapon making 500 horsepower from a 2.0-liter turbocharged four-cylinder engine.
The RC F, Nissan GT-R and Honda NSX form a trio of new models in the top-spec GT500 arm of Super GT, as the class goes through one of its biggest changes in its history. The GT500 class and DTM in Germany are unifying their rules for the new season. The cars have the same limits on exterior dimensions and weight. The only major difference between them is that the GT500 cars are using 2.0-liter turbocharged four-cylinder engines, and the DTM is using naturally aspirated 4.0-liter V8s in its cars.

Lexus NX rolls on wheels made of ice

To create this rolling ice sculpture, Lexus teamed up with London-based Hamilton Ice Sculptors, which fitted the compact luxury crossover with wheels and tires crafted from ice. The sub-zero craftsmen then deep-froze the entire vehicle, stored it at -22 degrees Fahrenheit, and drove it around London – pleasantly surprised to find that it started on the first try. As far as publicity stunts go, the finished product looks even cooler than the cardboard IS that Lexus had crafted a few months ago or the biometric glow-in-the-dark RC F from this past summer. The project took three months of research, design, and testing to carry out. The wheels replicate the alloys on the NX with millimetric precision, right down to the tread pattern, and each one took a team of four craftsmen 36 hours of work to complete. Of course, blocks of ice would have a hard time supporting the weight of the vehicle – especially while in motion – so the frozen wheels were reinforced with clear acrylic discs. And to make it all glow, they were also fitted with in-wheel LED lighting. This isn't the first time we've seen ice sculptors apply their skills to automobiles, following the frozen Canadian Tire pickup, Toyota Land Cruiser, Nissan Cube, and Saab Aero-X we've seen in recently years. But this one is at least as cool, in one sense or another. Scope out the results in the video above, and the process that went into their creation in the making-of video below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. LEXUS NX RIDES ON THE WORLD'S COOLEST WHEELS – CRAFTED IN SOLID ICE The concept of driving on ice has taken on a whole new meaning for Lexus, which has crafted the world's first set of working wheels and tyres made from frozen water. Brussels, Belgium - True to its mission of "creating amazing" and inspired by the craftsmanship that goes into every vehicle it makes, Lexus commissioned a team of ice sculpture specialists to explore how ice could be used in place of conventional alloy metal and rubber. After three months' research, design and testing, the finished wheels were fitted to a Lexus NX for the ultimate ice drive. The car itself was deep-frozen, stored for five days at -30°C (it started first time) before being driven off down a London road. The addition of in-wheel LED lighting added an extra dramatic dimension to the cutting-edge contemporary styling of the NX.