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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.

2021 Lexus UX250h Black Line Special Edition looks less like a crossover than ever

Lexus just found a way to make the UX 250h look even more like a regular hatchback. It’s called the 2021 Lexus UX Black Line Special Edition, and it follows the path of previous Lexus Black Line models before it (ES, GS, RC). WeÂ’ll note that this special edition is based on the hybrid version of the UX, and isnÂ’t available with the standard gasoline engine variant. The body-color fenders stand out the most. Instead of ruggedized black plastic, Lexus is painting them in the same color as the rest of the body. LexusÂ’ UX was already one of the most car-like of the tiny crossover class, and eliminating the ugly crossover-like fenders brings it even deeper into hatchback territory. By painting them the same color as the body, it tricks the eye into thinking the car is hunkered down lower to the ground. The gloss black side sills and lower trim bring it down even further visually. Now, Lexus didnÂ’t actually lower the UX, but this package makes it feel much less like a crossover. When painted, the flared fenders even come across as sporty, wider hips. We really dig the look. The gorgeous Grecian Water (blue) paint only improves the situation further. You can also get the Black Line model in Caviar and Eminent White Pearl — all three colors get the same body-color fenders. Every UX Black Line also gets 18-inch black-painted wheels with black lug nuts, black grille surround, black side mirrors, black roof rails and darkened headlight fixtures. On the inside, youÂ’ll be able to choose between a black or “birch” leather package. Both get blue accents throughout. YouÂ’ll see blue on the seats, center armrest, doors, dashboard, seatbelts, cargo mats and even the key gloves. When you buy one of these UX Black Lines, youÂ’ll also get a custom Zero Halliburton luggage set with Lexus branding on the two pieces. Lexus says itÂ’s only making 1,000 of these UX Black Line Special Edition cars. TheyÂ’ll go on sale in spring of 2021, with pricing available sooner to the on-sale date. Related Video:

Toyota sold record 1.52 million hybrids in 2017

Toyota has been selling electrified cars for more than two decades now, launching the Prius hybrid in Japan in 1997. Back in the fall of 2015, the automaker announced a number of goals as part of its "Environmental Challenge 2050." One of those was to sell 1.5 million hybrids (including its Lexus brand) annually by 2020. Toyota has announced that is has already achieved that goal, selling 1.52 electrified vehicles in 2017. That's an 8 percent increase of Toyota's 2016 hybrid sales, and means the company has sold more than 11.47 million electrified vehicles since it began. Toyota says that represents a reduction of more than 90 million tons of CO2. Last year's achievement "is a testament from our customers to the quality, durability and reliability of our electrified powertrains," says Toyota Executive VP Shigeki Terashi, "and, thanks to them, has led us to establish a solid and sustainable foundation for mass producing a more diverse portfolio of electrified vehicles across our range moving forward." Other goals of Toyota's Environmental Challenge 2050 are 30,000 annual fuel cell vehicle sales by 2020, mass production of battery electric vehicles in 2020 and annual electrified vehicle sales of 5.5 million by 2030. These are all part of Toyota's larger goal of reducing new vehicle CO2 emissions by 90 percent by 2050 (compared to 2010). Prior to 2016, Toyota hybrid sales peaked in 2013, at 1.28 million before slumping slightly in 2014 and 2015. Toyota saw an uptick and a new record in 2016, at 1.4 million, before setting yet another record in 2017, at 1.52 million. Related Video: