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Workhorse Group secures $35M in financing from Marathon Asset Management; $1.3M battery purchase by Duke Energy

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Workhorse Group Inc., a manufacturer of electric-mobility solutions to the transportation sector ( earlier post ), closed a $35-million financing with Marathon Asset Management. Marathon, based in New York, NY, is an opportunistic global credit event-driven manager with approximately $15 billion in assets under management.

Financing 259
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Group of 285 global investors with more than $20T in assets under management calls for urgent action on investment-grade climate change and energy policies; guidelines for governments

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Saying that “ investment-grade climate change and clean energy policy is required to shift private sector investment from high-carbon to low-carbon assets ”, a group of 285 investors has urged governments and international policy makers to take new and meaningful steps in the fight against climate change.

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Pinnacle Engines appoints Asian Business Advisory Board; closes Series C financing

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Pinnacle Engines also announced closure of its Series C financing, bringing total investment in the company to more than $30 million. Investors in the round included Mitsui Global Investment, VenturEast and a strategic OEM partner along with its existing investors Bessemer Venture Partners, New Enterprise Associates and Infield Capital.

Financing 291
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FCA proposes 50:50 merger with Groupe Renault

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delivered a non-binding letter to the Board of Groupe Renault proposing a combination of their respective businesses as a 50/50 merger. Groupe Renault has a strong presence across Europe, Russia, Africa and Middle East, while FCA is uniquely positioned in the high margin segments in North America and is a market leader in Latin America.

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Pew: global clean energy investment reached record $243B in 2010

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Global clean energy finance and investment grew significantly in 2010 to $243 billion, a 30% increase from the previous year. billion in clean energy financing last year, improving its global standing to fourth, from eighth in 2009. Germany accounted for 45% of global solar investments. Click to enlarge.

2010 236
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Hyundai Motor targeting 7% of global EV market by 2030; 1.87M BEVs

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Under the new plan, the company aims to boost annual global BEV sales to 1.87 million units and secure 7% of global market share by 2030 by strengthening its line-up with 17 new BEV models by 2030; 11 for Hyundai models and 6 for Genesis luxury brand. The innovation will be expanded to global plants in the future.

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Volkswagen Group to invest $106 billion over next 5 years in Automotive Division

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The Volkswagen Group will invest a total of €85.6 billion (US$106 billion) in new models, innovative technologies and its global presence in its Automotive Division over the coming five years. This will allow the Volkswagen Group systematically to continue its model rollout with a view to tapping new markets and segments.

Poland 317