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received a purchase order for 500 of its all-electric C-1000 delivery vehicles from Pritchard Companies. Inventory financing will be provided by Hitachi Capital America as part of Workhorse’s previously announced strategic partnership with HCA. Workhorse Group Inc.
a manufacturer of electric-mobility solutions to the transportation sector ( earlier post ), closed a $35-million financing with Marathon Asset Management. The remaining $25 million will function as a revolving credit facility from which Workhorse may draw down as necessary to meet existing and future purchase orders.
Brightmark Energy , a San Francisco-based waste and energy development company, closed a $260-million financing package for the construction of the US’ first commercial-scale plastics-to-fuel plant, which will be located in Ashley, Indiana.
Workhorse Group has received a purchase order for 6,320 C-Series all-electric delivery vehicles from Pride Group Enterprises, a company with businesses in transportation equipment retail, wholesale, rental, leasing and logistics. Inventory financing for that deal is also being provided by Hitachi Capital America.
However, Germany is now financing 80% of the higher purchase cost of e-buses. T&E said the EU’s €750-billion COVID recovery fund is a clear way to finance e-bus deployment. And as part of the public procurement process, bus contracts should be awarded only to operators meeting or exceeding these targets.
As part of the agreement the partners will offer aircraft leasing and financing solutions that enable operators to run zero-emission flights. Under the deal, MONTE will purchase up to 100 ZA600 powertrains to be installed on existing and new Cessna Caravan, DHC-6 Twin Otter, Dornier 228 and HAL-228 aircraft.
A new survey by Capital One Auto Finance found that more than half of respondents (53%) say that their next car will be more fuel efficient than their current vehicle and 55% would be very likely or somewhat likely to give up a larger vehicle for a more fuel-efficient model when they buy their next car.
American Suzuki Motor Corporation (ASMC) has received court approval for Debtor-In-Possession (DIP) financing. As a result, the Company will be able to borrow up to $50 million for operations and up to $50 million for purchases of inventory from Suzuki Motor Corporation (SMC). Earlier post.) Earlier post.)
Under the Clean School Bus Program, half of the available funding is dedicated for zero-emission school buses and half is for clean school buses, the latter being a school bus that reduces emissions and is operated entirely or in part using an alternative fuel or is a zero-emission bus. Non-profit school transportation associations.
These will include flexible financing, short-term rentals, and full-service leases, such as all-inclusive truck-as-a-service options with enhanced incentives and fueling support. Dealers and their financing partners, leasing and rental companies, or truck-as-a-service providers can serve as providers.
The IPCEI program can finance the network construction in part. However, the financing of network operation requires a long-term solution to the charging issue in the EnWG. The definition of the electricity purchase criteria is still outstanding here.
As part of the analysis, Experian Automotive also reviewed some of the financial attributes of hybrid vehicle loans. The study found that overall, consumers purchasing a hybrid have significantly higher credit scores than those purchasing another type of new vehicle. Other findings on hybrid vehicle financing: In 2012, 3.1%
These leases will deliver on the pLAn’s commitment to ensure that 50% of the City’s annual light-duty vehicle purchases are EVs by 2017. This also marks a big step toward the pLAn’s longer-term target to have 80% of city vehicle fleet purchases be EVs by 2025. per mile for EVs vs. $0.37
In response, Air Liquide, Groupe PSA, Schneider Electric and Valeo have set up a Task Force composed of about 30 purchasing and industrialization experts in order to define an action plan to increase the production of Air Liquide Medical Systems respirators.
While the President’s Task Force on the Auto Industry continues to review restructuring plans submitted by General Motors and Chrysler, the US Department of the Treasury announced an Auto Supplier Support Program that will provide up to $5 billion in financing to US-based suppliers.
As part of the transaction, GreatPoint Energy has raised equity investment and secured project funding of $1.25 billion from Wanxiang to finance and construct the first phase of a coal-to-natural gas facility that ultimately will have an annual production capacity of one trillion cubic feet (1 Tcf) (30 billion cubic meters) per year.
ALTe Powertrain Technologies, developer of a range-extended plug-in electric hybrid powertrain for light commercial fleet vehicle applications, has created a Commitment to Action to spur adoption of hybrid electric technology in the worldwide fleet industry as part of the Clinton Global Initiative America (CGI America) meeting.
a federal mileage fee—as a way to reform financing of the US transportation infrastructure. The recommendation is part of the final report issued by the National Surface Transportation Infrastructure Financing Commission, “ Paying Our Way: A New Framework for Transportation Finance ”. The nation faces a crisis.
Customers can still include a 3-year subscription as part of the vehicle purchase, if they prefer. MSRP excludes destination/delivery fee, optional equipment plus government fees and taxes, any finance charges, any dealer processing charge, any electronic filing charge, and any emission testing charge.
Lightsource bp financed, owns and operates Bighorn Solar and sells the electricity it generates to Xcel Energy under a 20-year power purchase agreement. As part of that arrangement, EVRAZ will receive clean, renewable power and price certainty from Xcel Energy through 2041.
The investments are part of California’s comprehensive strategy for improving air quality and reducing greenhouse gas emissions in the transportation sector, the state’s largest source of air pollution and climate-changing gases. This includes $326 million for vehicle purchase incentives and $55 million for clean mobility investments.
The feedback from our customers over the last three years has been that they love the platform and its powerful, smooth and quiet ride, as well as the intuitive driving experience and readily available service and spare parts. —Tim Reeser, CEO of Lightning eMotors. Last week, Lightning eMotors and GigCapital3, Inc.,
Several key issues will be finalized over the next few weeks to secure the binding agreements, including the written support of the labor unions to support the deal with the necessary cost restructuring for viability and the finalization of a definitive financing package from the German government.
to finance the development and production of low-carbon fuels and energy transition metals. TMC and LCR have agreed to a purchase and sale agreementwhereby LCR has acquired a 2.0% However, relative to other parts of the value chain, global investment in mining of energy transition metals is lagging.
In a first step, this hydrogen is to substitute part of the carbon in the existing blast furnaces, later on it is to be used in new direct reduction plants. In the coming years, thyssenkrupp Steel’s climate strategy will entail a continuously increasing and constant demand for green hydrogen.
million residents, visitors and employees use ART to connect with local destinations and the ARTIC regional transportation center as part of the citywide #ElectrifyAnaheim program. Each year more than 9.5
(collectively, Fisker Automotive) have entered into an asset purchase agreement with Hybrid Tech Holdings, LLC (Hybrid) for the sale of substantially all Fisker assets. Hybrid’s parent, Hybrid Technology, LLC purchased the loan from the US Department of Energy (DOE) for $25 million. Earlier post.). Earlier post.).
NFI started its electromobility journey with Volvo Trucks as part of the Volvo LIGHTS (Low Impact Green Heavy Transport Solutions) project that began in 2019. Our experience with the Volvo LIGHTS project was a major factor in NFI’s decision to purchase VNR Electric trucks for our drayage operations. Earlier post.). Earlier post.).
Elon Musk’s efforts to secure new financing that will limit his cash contribution for his planned acquisition of social media platform Twitter has reportedly been put on hold. During an appearance at the All-In Summit , Musk compared his concerns about Twitter’s bots with those faced by buyers who are looking to purchase a house.
—Karen Kutzner, managing director for finance and controlling at Volkswagen Sachsen. Because Volkswagen Sachsen has been purchasing green electricity since 2017, all vehicles are therefore charged with 100% renewable energy. As a large battery storage unit, the PSC offers a cost-effective alternative to a transformer station.
Through the project, the private partner will design, build, finance, operate and maintain CNG filling stations at up to 37 transit facilities. In addition, PennDOT will enter into a CNG supply contract with the selected partner as well as purchase agreements with each of the transit agencies.
The CVRP program is part of California Climate Investments, which funds the program with auction proceeds from the state’s Cap-and-Trade program. The existing CVRP program will continue to accept applications while funding remains available. The Center for Sustainable Energy has administered the CVRP since its inception in 2009.
(Sila Nano) ( earlier post ) as part of Daimler’s research and development activities in support of electromobility. The investment forms part of Sila Nano’s $170-million Series E financing, which was led by Daimler. The investment forms part of Sila Nano’s $170-million Series E financing, which was led by Daimler.
In 2010, Tesla was awarded a milestone-based loan, requiring matching private capital obtained via public offering, by the DOE as part of the Advanced Technology Vehicle Manufacturing (ATVM) program. Elon Musk, Tesla’s Chief Executive Officer and cofounder, purchased $100 million of common equity, the least secure portion of the offering.
Electrify America’s network, part of the FordPass Charging Network, offers the largest number of high-powered public charging stations on the market today. The FordPass Charging Network is North America’s largest public charging network with more than 13,500 charging stations and almost 40,000 individual plugs.
The acquisition of the two mines was financed through US$36 million in debt, royalty and stream financing provided by funds managed by Sprott Resource Streaming and Royalty Corp. The balance of the financing proceeds will be used to fund the restart of operations in Namibia and for working capital purposes.
As part of these agreements, starting in 2017 American will become the first network US airline to begin taking delivery of “next generation” narrowbody aircraft that will further accelerate fuel-efficiency gains. The financing fully covers the first 230 deliveries.
Part of a framework agreement of 350 e-buses, this order represents yet another step towards a zero-emission fleet and accompanying infrastructures by 2035. The board also approved the purchase of charging infrastructure for e-buses and e-hybrids with two suppliers, Spie-Ekoenergetyka and Heliox.
Ford has launched a handful of new promotional offers on its Mustang Mach-E and F-150 Lightning electric vehicles (EVs), including temporary zero-interest financing, cash bonuses, and more leasing options. The post Ford launches zero-interest financing for Mach-E and F-150 Lightning appeared first on TESLARATI.
The BMW investment was part of Lilac’s just-closed US$150-million Series B financing. For this raw material, BMW Group Purchasing has therefore implemented additional measures is therefore sourcing lithium directly from the mines and making it available to battery cell suppliers.
A study by researchers at the Institute of Transportation Studies, UC Davis finds that buyers of plug-in vehicles (PEVs) are substantially less satisfied with the dealer purchase experience than buyers of conventional vehicles—with the notable exception of Tesla buyers. In some cases, dealers outright discouraged PEV purchases.
The First Things You Must Do After Purchasing a New EV The Essential Steps To Take with a New Car This article may contain affiliate links. Purchasing one can be both an exhilarating and daunting experience, but it’s also full of important tasks that need to be done before they slip through the cracks. Congratulations!
has signed a purchase and sale agreement to acquire BAF Technologies, Inc., The purchase price payable at the closing of the acquisition of BAF is approximately $8.3 The purchase price payable at the closing of the acquisition of BAF is approximately $8.3 Clean Energy Fuels Corp. Due to the fact that approximately $3.8
China has made progress with automotive energy-saving technologies over the past 10 years through implementing passenger car fuel consumption limits and the use of fiscal policy to encourage the purchase of small cars, the government statement noted. This area also includes exploration of different business models for recharging.
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