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Honda, SolarCity expand sun-powered partnership with new $50 million fund

It must be solar-power announcement time. The DOE is ready to throw $25 million at concentrating solar power and New York State just announced $94 million for solar projects. At the broadly green-minded South By Southwest Eco festival in Austin, TX this week, Honda announced an expansion of its work with SolarCity to include a new fund that could finance up to $50 million in solar projects for dealerships and homes. Well, the homes of people who have purchased a Honda or Acura vehicle, at least. Stop us if this all sounds familiar. Honda and SolarCity announced back in early 2013 that they would work together on a $65-million fund to partially subsidize the installation of solar-panels at Honda dealers and on homes of Honda and Acura drivers. The new $50 million will be used to pay for not only the equipment but also the installation, which means that if you can get access to the money, you're looking at a pretty sweet 20-year lease deal to get solar energy for your home and could make it a bit more like the Honda Smart Home in Davis, CA (pictured). How sweet a deal? Well, there's zero down payment required and a 3-kW system starts could cost you just $25 a month, according to the fine print. Rates will vary, for sure, but if that sounds like something you're interested in, check out the Honda SolarCity site. The new fund builds on the previous work that, the two companies say, created enough solar capacity to offset "more than 400 million pounds of CO2 over a 30-year lifecycle." There's more in the press release below. SolarCity and Honda Announce $50 Million Commitment to Provide Solar Power to Honda and Acura Customers and Dealerships SAN MATEO and TORRANCE, Calif., Oct. 8, 2014 – Today, at the SXSW Eco conference in Austin, TX, SolarCity® (Nasdaq: SCTY) and Honda have renewed their partnership with a new fund expected to finance $50 million in solar projects. The new commitment will make solar power more affordable and available to Honda and Acura customers and dealerships in the U.S. The companies have completed or initiated a range of solar projects for homeowners, dealerships and corporate facilities that total more than 12.5 MW of solar generation capacity. The two companies have already brought enough solar capacity online to offset more than 400 million pounds of CO2 over a 30-year lifecycle . The $50 million fund is a follow-up to a $65 million fund the companies created in 2013.

Honda's new hybrid will cut use of rare-earth metals

Honda will start selling a hybrid vehicle later this year that will reduce the use of rare-earth metals in the hybrid-electric motor's magnets. The Japanese automaker worked with Japanese metal supplier Daido Steel Co. to develop a process that eliminates the use of rare-earth elements such as terbium or dysprosium. The first vehicle to feature this process will be the Honda Freed subcompact minivan, which is based on the platform of the Fit and will go on sale in Japan later this year. The new technology will help free Honda from its dependence on China, which produces about 90 percent of the world's rare-earth metals. The new process uses what's called the "hot deformation method" to eliminate the need for the heavier metals and likely reduce hybrid-engine costs. Honda's new hybrid motors use a lighter rare-earth material called neodymium. With both electric and hybrid vehicle production forecast to grow within the next few years, rare-earth metal demand is forecast to rise by 14 percent a year to more than $9 billion by 2019, Automotive News says, citing an estimate from technology-research company Technavio Research. Honda estimates that the new process cuts the cost of making the motors' magnets by about 10 percent while reducing their weight by about eight percent, Reuters says. Additionally, neodymium is found in Australia and North America, as well as China. Honda has been selling a gas-powered version of the Freed in Japan since 2008. Three years later, Honda started selling a hybrid version of the minivan, which was rated to get 51 miles per gallon on the Japanese driving cycle. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Daido Steel and Honda Adopt World's First Hybrid Vehicle Motor Magnet Free of Heavy Rare Earth Elements – Honda Freed, on sale this fall, will be the first hybrid vehicle to adopt new magnet – Daido Steel Honda TOKYO, Japan, July 12, 2016 - Daido Steel Co., Ltd. and Honda Motor Co., Ltd. became the world's first companies to achieve practical application of a hot deformed neodymium magnet containing no heavy rare earth*1 and yet with high heat resistance properties and high magnetic performance required for the use in the driving motor of a hybrid vehicle. This heavy rare earth-free hot deformed neodymium magnet will be applied first to the all-new Honda FREED, scheduled to go on sale this fall.

NHTSA probing 400,000 Infiniti, Honda vehicles over steering faults

As many as 391,000 vehicles from Infiniti and Honda may eventually need to be recalled as a result of two, separately announced Preliminary Evaluations from the National Highway Traffic Safety Administration to ascertain the scope of the potential safety hazards.
The larger investigation has NHTSA looking into the 2013 Honda Accord because of 24 reports from drivers alleging total loss of power steering or a sudden increase in necessary effort to turn the vehicle. In four cases, the problem is reportedly linked to crashes, with all of them occurring at less than 30 miles per hour. According to the claims, 13 people also reported seeing a warning message during the failure. Turning off the car and restarting it would fix the issue in some cases. If a recall is necessary, it could affect an estimated 374,000 Accords.
The second investigation is much smaller in scope. The safety agency is investigating the 2008 Infiniti EX35 after two complaints of the steering wheel shaft separating, and the vehicle losing the ability to steer. Both reports allege that the steering became loose when driving and then completely failed once the vehicle was stopped. A recall for the problem would affect an estimated 17,000 vehicles. Scroll down to read NHTSA's reports on both Preliminary Evaluations.