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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.

Google Test Car Crash Footage | Autoblog Minute

Recently surfaced footage from Valley Transportation Authority in California gives us a fresh perspective on the February crash between a city bus and a Google self-driving car. Google Lexus Autoblog Minute Videos Original Video viral video google car lexus rx 450h

Physical and virtual gaming worlds collide in Lexus IS Hybrid promo

This is really, really cool. In order to promote its new IS Hybrid, Lexus borrowed an airplane hangar, a former Formula One driver and what we imagine was some serious technological knowhow to create one of the most interesting games we've ever seen. It's called Trace Your Road.
Lexus invited some of its Facebook fans out for the game, which put them in the passenger seat of a Lexus IS Hybrid with former F1 shoe Jarno Trulli. They were then handed a tablet and asked to trace out a road, which was projected onto the floor of the hangar. Trulli had to follow the ever-changing path as his passenger kept on tracing away. It looks like it'd be an absolute riot.
This is probably the coolest automotive promotional video since Audi strapped paintball guns on a couple of RS4s. Take a look below to watch the full video from Lexus. We promise, it's worth two minutes of your time.