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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.

Lexus ES 300h gets optional side-view cameras and monitors in Europe

In select European markets, Lexus is expanding the availability of one of its newest and most futuristic features. Starting in March, 2020, the ES 300h will have an option for digital side-view cameras and monitors.   Lexus first introduced its side-view cameras and monitors on a production car when it added the tech to the Japanese-market 2019 ES sedan in 2018. Typical side-view mirrors are replaced with camera stalks, which feed video into small five-inch digital displays attached to the front corners of the car's interior.  To ensure an optimum high-definition view at all times, the cameras have numerous weather-proofing features. Built-in heaters prevent freezing, and the aerodynamic design is also shaped so that rain and snow should not affect the quality of the recording. The cameras also have demisters that have their own dashboard switches, as well as a light sensors that help curb headlight glare.  In addition to maintaining quality, the tech has built-in driver aids. When a turn signal is activated, the monitors will automatically show an "extended view" that helps eliminate blind spots. That feature can also be manually activated. Guidelines are also introduced to the monitor when the car is parking or in traffic.  Like normal mirrors, the cameras can be adjusted through controls on the doors. The system has adjustable brightness and the option for automatic camera retraction, too. As pointed out by CarScoops, the option is already available on the ES 300h Takumi on the United Kingdom Lexus configurator. The total package is priced at roughly $2,000, with each of the cameras and monitors accounting for a quarter of the cost. Lexus plans to show off the ES 300h with side-view cameras at the 2020 Geneva Motor Show in March, and the option will be available immediately in the U.K., Germany, Spain, and Poland. The rest of Europe will get it before the end of 2020. Meanwhile in the U.S., the National Highway Traffic Safety Administration (NHTSA) is still testing and debating the safety of the technology. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Kia Blindspot Monitoring System | 2020 Autoblog Technology of the Year Disclaimer: Autoblog accepts vehicle loans from auto manufacturers with a tank of gas and sometimes insurance for the purpose of evaluation and editorial content.

The hoverboard of your dreams is finally here, thanks to Lexus

Finally. Finally! Anyone who grew up in the 1980s has been waiting for this moment for a long, long time. Since 1989, to be exact, which is when Back to the Future Part II hovered its way into theaters showing Marty-of-the-past riding a newfangled board-without-wheels in a fabricated future. After several teases, Lexus has finally unleashed real, actual footage of its hoverboard in action. As you'll see in the video, the learning curve is steep, even for a professional skateboarder like Ross McGouran. "I've spent 20 years skateboarding, but without friction it feels like I've had to learn a whole new skill, particularly in the stance and balance in order to ride the hoverboard. It's a whole new experience," says the hoverboard test rider. Before we all get too carried away, there are caveats to this real-world hoverboard. First, the technology doesn't work everywhere. According to Lexus, 200 meters of magnetic track was built in Dresden, Germany, and shipped to a specially built "hoverpark" in Barcelona, Spain. Unlike the fictional hoverboard from BTTF, though, Lexus' creation does indeed work on water... assuming there's a properly magnetic surface below the surface. We're sure you've got questions – cryostats, liquid hydrogen and magnets, are the likely answers – but first, you really should watch the video. Then, feel free to check out the full press release down below, but before you get too excited, know that Lexus has said it does not intend to sell a production version of its hoverboard. Related Video: Lexus Hoverboard Ride Revealed New Film for the Latest Amazing in Motion Campaign Shows Final Testing in Barcelona August 04, 2015 TOKYO, August 05, 2015 -- Following the unveiling of the Lexus Hoverboard in June, the luxury automotive company is completing a full and final reveal of the project concluding a successful testing phase which took place in Cubelles, Barcelona. Mark Templin, Executive Vice President at Lexus International said: "Embarking on this project, we set out to push the boundaries of technology, design and innovation to make the impossible possible. With this project we call 'SLIDE', we collaborated with partners who share our passion for creating enjoyment out of motion. Even through combining our technology and expertise, we discovered making a hoverboard isn't an easy process.