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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.

Toyota and Lexus will have standard automatic braking by 2017

Last week, NHTSA and IIHS announced that 20 auto manufacturers and three agencies had agreed to include automatic emergency braking (AEB) as standard equipment by 2022. Toyota was one of those 20 companies, but this week they upped the AEB ante: Nearly every Toyota and Lexus model and trim level will have standard AEB by 2017. That's next year. Many models already offer AEB as part of the Lexus Safety System+ and Toyota Safety Sense packages, but consumers have had to pay extra for these options (unless they leased a Toyota Mirai hydrogen fuel-cell vehicle; it already has AEB as standard equipment.) By the end of next year, all but the Lexus GS, Toyota 4Runner and Toyota 86 — which was developed together with Subaru — will have AEB installed at no extra cost. (Interestingly, the new Prius Prime unveiled at the New York International Auto Show has Safety Sense as an option rather than standard equipment.) The AEB function is part of Toyota's safety suites, which will be included in 25 Lexus and Toyota models. Both makes have a precollision system that detects the possibility of collision with the car ahead and engages the brakes if the driver doesn't react quickly enough, as well as lane departure alerts and automatic high beams. Toyota's move leapfrogs ahead of Honda making its Honda Sensing system, which includes AEB tech, available as a flat $1,000 option on every Civic Sedan. Related Video: This article by Kristen Hall-Geisler originally ran on TechCrunch, a leading technology media property, dedicated to obsessively profiling startups, reviewing new Internet products, and breaking tech news.

Recharge Wrap-up: Formula E gets more power, Tesla outsells competition

Tesla sold significantly more electric vehicles than its competitors in 2015. Tesla delivered 50,580 vehicles in 2015. 208 of those were its new Model X SUV, and likely half of its Model S units were sold in the US. By comparison, Nissan sold 17,269 Leafs. For General Motors, through the end of November, Cadillac sold 1,024 ELRs, while Chevrolet sold 15,393 Volts and 2,477 Spark EVs. Ford sold similar numbers of its plug-in vehicles in 2015, compared to Nissan and GM, putting each of those automakers between 17,000 and 19,000 EVs. By comparison, Tesla had quite a year. Read more at Teslarati. Lexus is teasing an "unprecedented" world premiere at the 2016 Detroit Auto Show. The automaker is rumored to debut its LC 500, powered by a 465-horsepower, 5.0-liter V8, as well as the LC 500h using a hybrid powertrain consisting of a V6 engine and electric motor. The LC 500h is rumored to produce over 470 horsepower. The Lexus LC will be based on the LF-LC concept that debuted in Detroit in 2012. Lexus has set up a dedicated microsite for its presentation at the Detroit show on January 11. Read more from Hybrid Cars. Formula E will raise its power limit for its third season. According to the newly published FIA Formula E 2016 Technical Regulations, output will be boosted from a maximum 200 kW (268 horsepower) to 250 kW (335 horsepower). While race energy will still be limited to 28 kWh, the battery weight limit has been raised from 200 kilograms (441 pounds) to 230 kilograms (507 pounds), likely to help accommodate the higher output. Meanwhile, overall car weight drops from 888 kilograms (1958 pounds) to 880 kilograms (1940 pounds). Lighter, more powerful cars should make the next season of Formula E even more exciting. Read more at Current E. Related Gallery Lexus LF-LC Concept: Detroit 2012 View 11 Photos News Source: Telsarati, Hybrid Cars, Lexus, Current E, FIA Formula EImage Credit: Formula E Green Motorsports Detroit Auto Show Lexus Tesla Electric Hybrid recharge wrapup