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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.

The revolutionary Bose suspension that could have been

The Bose name pops up on these pages every once in a while – usually, as you might expect, because some automaker or another has installed its audio systems in one or more of its models. But a few years back, the research-driven audiophiles at Bose developed a revolutionary adaptive suspension system that could have been a game-changer. Sadly, it wasn't. The Bose suspension system was a technological breakthrough. As you can see from the pair of Lexus LS sedans demonstrated (and the Porsche Cayman thrown in for good measure) in the two-minute video above from CNET, the system virtually eliminated body roll and smoothed out bumps in the road to near glass-like serenity. It could even jump over minor obstacles. Unfortunately, the system was too heavy and expensive to put into production, and the project was shelved. Instead, it was repackaged into a suspended driver's seat for heavy-duty, long-haul trucks and called the Bose Ride System. It's said to significantly reduce fatigue and back pain while encouraging driver alertness and wellness – which is all well and fine, but a far cry from what the suspension system could have meant for the automotive industry. Just think about that the next time you notice the Bose logo on the speaker grille in an upscale vehicle from the likes of Audi, FCA, GM, Mazda, or Nissan – all automakers that offer Bose audio systems, and which might have considered implementing the advanced suspension if only it were more practical for production. Latest Video: News Source: CNET via YouTube Lexus Technology Videos lexus ls cnet

Lexus flagship spotted testing in the desert

Most of the Lexus line-up has been updated with the company's unique design language. Whether you love it or hate it, most of the company's cars are impossible to confuse for something else. But during this time of transformation, the flagship LS sedan has lingered with a very mild, sedate shape. These spy photos show the LS has gone under the knife. That being said, we can't really say how different the LS is going to look for sure because Lexus has employed some impressive camouflage. If we didn't know better we'd say it looks like the LS is going retro with round reflector headlights and some rear tailfins. But we do know better, so don't look for those features to make it to the production model. What we can make out is the lower half of the Lexus "spindle" grille. The camouflage wrapping is pressed up against a trapezoidal shape at the front reminiscent of what we've seen on other Lexus models. It looks like a large version of it as well. This Lexus seems to still be quite long, and based on where the rear passenger is in the photos, it still seems to have loads of space for rear passengers. It's difficult to tell if this is a long wheelbase model or a standard one, but if it is long wheelbase, it's proportioned quite nicely. It looks like there will be quite a large C-pillar on this LS too. Our spy photographer expects this car to be revealed next year as a 2018 model available with a V8 and possibly a hydrogen powertrain. So if you want one of the last low-key LS models, you'll want to get the current version because its days are numbered. Related Video: