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Toyota offering $4.2 billion in stock to fund Mirai, new hybrids

Toyota president Akio Toyoda told a group of investors that the hydrogen fuel-cell Mirai is the car for the next century. To help pay for it, Toyota is courting investors who aren't only after short-term capital gains but want to help the company long term. It will offer up to 500 billion yen ($4.2 billion US) worth of special shares in Japan that cost 20-percent more than common stock and that can't be sold for five years. The upshot is that the shares will pay a higher dividend, still have voting rights, and they can be converted to common stock or sold back to Toyota at the issue price. The investors won't lose money. Called "Model AA" shares in honor of the company's first passenger car, the sale would help Toyota hold onto capital while it works on the next - expensive - developments. The sale would be broken up into tranches, with 50 million potentially on offer this year after the annual shareholder's meeting. Successive sales would take place no more than once a year. The initial dividend is set at 0.5 percent and capped at 2.5 percent, which even at its lowest rate would beat that of a standard deposit account in a Japanese bank. At the moment, sales are only planned for Japan. Related Video: Featured Gallery 2016 Toyota Mirai: LA 2014 View 19 Photos News Source: Bloomberg Earnings/Financials Green Toyota Hydrogen Cars Sedan toyota mirai stocks investing

Fernando Alonso reportedly will race for Toyota at Le Mans

When it was recently announced that Fernando Alonso would race in the 24 Hours of Daytona in January, it was described as a warm-up for an eventual attempt to win Le Mans. "Eventual" may come pretty fast: It now looks like the Formula One champion will race in the Le Mans 24 Hours next season as well. Or so reports BBC Sport, which says he'll race for Toyota. But wait, there's more: The BBC also says he's in talks with Toyota to drive most of the entire World Endurance Championship — while keeping his day job driving for McLaren in F1. "Le Mans is agreed," a source close to Toyota told the BBC. "The rest of the season is still being negotiated, but it looks like he will do most of the races." BBC's sources say Alonso will drive a Toyota WEC car in the season's last race, in Bahrain on Nov. 19, to get his feet wet. The season's final Formula One race is the Abu Dhabi Grand Prix on Nov. 26. Neither Alonso nor Toyota would confirm an impending deal. Alonso said at practice for this weekend's Brazilian Grand Prix: "So far, nothing to comment. We will see. Just rumors." What's motivating him is this: He's 36 years old and is intent on becoming only the second driver, after Briton Graham Hill, to win motorsport's Triple Crown. That entails winning the Formula One title (or just the Monaco Grand Prix according to one interpretation) as well as Indianapolis and Le Mans. He has won Monaco as well as the 2004 and 2005 world titles. He recently signed a contract extension keeping him at McLaren in 2018. As for the Indy piece of the Triple Crown, Alonso famously raced there this year and was running competitively when his Honda engine failed in the closing stages of the race. So expect to see him there again as well. Racing with Toyota at Le Mans and other endurance races should give him better luck than he had this season with McLaren-Honda in F1 and at Indy. Though Toyota has never won Le Mans, it is known to be developing a new WEC car. Traveling the globe to race in both the WEC and F1 in the same season sounds grueling, but it might be possible. The circuits have provisional schedules, and there's just one conflict — the U.S. Grand Prix and a WEC race in Japan are both penciled in for Oct. 21. But McLaren sounds none too keen on him doing the whole WEC schedule. McLaren racing director Eric Boullier told the BBC: "He has said he is keen to do some races outside. There is a case-by-case discussion. His main and first focus is F1, so that has to be the priority.

Autoblog Podcast #414

Episode #414 of the Autoblog Podcast is here, and this week, Dan Roth, Steven Ewing, and Seyth Miersma discuss the new 2015 Shelby GT and go over the finer points of Elon Musk's recent speech during the Detroit Auto Show. Of course, the podcast starts with what's in the garage and finishes up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the rundown with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #414 Topics 2015 Shelby GT Elon Musk speech in Detroit In The Autoblog Garage 2015 Lexus LX 570 2015 Dodge Charger Pursuit 2015 Toyota Prius C 2015 Lincoln Navigator Hosts: Dan Roth, Steven Ewing, Seyth Miersma Runtime: 01:17:58 Rundown Intro and Garage - 00:00 2015 Shelby GT – 32:41 Elon Musk – 41:33 Q&A - 54:48 Get The Podcast UStream – Listen live on Mondays at 10 PM Eastern at UStream iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show in iTunes Podcasts Dodge Lexus Lincoln Toyota toyota prius c shelby lincoln navigator lexus lx