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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 to enter modern turbo four-cylinder era with Lexus crossover

Toyota has sat quietly on the sidelines as many of its competitors have armed themselves in recent years with lower-displacement turbocharged four-cylinder engines in an effort to gain better fuel efficiency numbers and flatter power curves. It's a strategy largely shared by fellow countryman Honda, who turned away from offering forced-induction four-cylinder models in North America after its first-generation Acura RDX failed to find buyers. Toyota itself has no lack of experience with turbo fours, having built some humdingers for cars like the MR2 and Celica All-Trac back in the 80s and 90s. It's also offered factory-warranted turbos through its TRD performance parts division more recently.
Now, Automotive News is reporting that the world's largest automaker is finally poised to rejoin the turbo-four production-car fray in North America, but it won't be a sports car that delivers the first force-fed punch, it will be a new small crossover model for Lexus. We first showed you spy shots of the NX last week in mule form, and Automotive News says the small softroader will carry a 2.0-liter turbo four in its engine bay when it rolls on to world markets in 2014 or early 2015. That model, the NX 200t, will be joined by the NX 300h, a hybrid variant. It isn't immediately clear when US buyers will see the turbo model, however, it's possible that the hybrid could bow first - the story quotes an anonymous company source suggesting that Americans might not see the engine offering until sometime in 2015.
AN further posits that the new 2.0-liter will likely supplant the company's 2.5-liter V6 in the IS sedan and the same-displacement four-cylinder in the Toyota RAV4, but does not indicate where the new engine will be built.

2021 Lexus LC 500 Convertible is much more than just coupe minus roof

LOS ANGELES — Usually when a convertible version of an existing car is introduced, the reveal story generally goes something like, "It's the same, but the roof has been removed, it goes down in XX seconds, there's less structural rigidity and it weighs XXX more pounds. That's it, carry on." With the 2021 Lexus LC 500 Convertible, there was actually a surprising amount done to create the drop-top version and make sure it's as compelling as its existing coupe sibling. But before we get to that, make sure to take a moment to admire how pretty the LC 500 Convertible is. Or, perhaps, a second moment. The car you see here is painted Structural Blue and features a stunning Santorini-esque white-and-blue interior. That this combo will be limited to a mere 100 units as a special-edition Inspiration Series is an absolute crime. My goodness it's beautiful. OK, the Convertible transformation. Lexus improved chassis rigidity by adding, reshaping and/or relocating structural braces, including the rear suspension brace tower. To counter this, weight is reduced at the rear by using a die-cast aluminum suspension brace, and a unique dampener used to ensure comparable ride quality as the coupe. Unsprung weight at the front suspension was also reduced. In total, only 217 total pounds were added for the convertible over the 2019 LC 500 coupe. The new soft-top has four layers, and Lexus says its fabric was selected to make sure that it would stay tight and prevent wrinkling. Excellent sound insulation is promised, but Active Noise Control is also employed, whether the roof is raised or lowered, to further suppress noise. The roof is lowered in 15 seconds and raised in 16. A rigid tonneau cover is employed when the roof is lowered. Design changes for the convertible include a trunk lip that's been raised slightly and widened. The center brake light is integrated into it ­– it's normally above the back window. The beltline and rear molding were also reshaped to suppress wind, while a transparent plastic wind deflector is integrated neatly behind the back seat. 2021_Lexus_LC_500_Convertible_07 View 13 Photos Like various Mercedes and BMW convertibles, a neck-level heater is added for the front seats. They are integrated into the LC's existing "Climate Concierge" that automatically activates the heater or air conditioner, seat heating or ventilation, and the heated steering wheel. It'll also automatically blow warm or cold air onto the driver's hands when on the steering wheel.