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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

Lexus LX to get diesel engine?

Australian consumers appear poised to get another diesel-burning luxury SUV in the near future, and word is it's coming from Lexus, of all automakers. Sean Hanley, chief executive of the company's branch in Oz, recently told Aussie website Drive that he's "pretty confident" that the new engine for the LX is getting the green light.
Like in the US, the LX in Australia is currently only offered with a 5.7-liter, gasoline-burning V8. However, sales of the big SUV are presently minuscule Down Under, with Drive reporting just 153 LX570s sold in all of Oz last year. Hanley is negotiating with Japan to get the new diesel in hopes of boosting flagging sales. If his efforts are successful, it would be the first diesel engine offered in a Lexus there. Hanley didn't specify exactly which mill the SUV would get. However, given the LX's close relationship with Toyota Land Cruiser, the diesel 4.5-liter twin-turbo V8 already available in the Toyota in markets outside of North America seems like a natural choice.
Don't expect the variant to be hopping across the Pacific, though. Lexus spokesperson Allison Takahashi tells Autoblog she has heard "nothing" about an oil-burning LX coming to the US. That's not a huge surprise, though, because neither Toyota nor Lexus offer any diesels in their lineups today. Also, Lexus has only sold 1,981 LX570s through June, which only placed it ahead of the LFA supercar in the brand's sales. It's probably just not worth certifying the engine for such a low-volume model.

Recharge Wrap-up: Renault-Nissan hits 250,000 EVs, will the next Toyota Prius be an SUV?

Will the next Toyota Prius be an SUV? Mazda and Toyota recently reached an agreement to share powertrain technologies, which will help Mazda comply with California's tightening ZEV restrictions with a plug-in vehicle. On the flip side, Toyota will have access Mazda's Skyactiv diesel powertrain, which a source tells Motoring will be used in an SUV based on the Toyota Prius (and, as Hybrid Cars suggests, on the Toyota C-HR concept). Interestingly, the collaboration will also give Mazda access to Toyota's fuel cell technology, which could mean more hydrogen powered cars on the road and the subsequent expansion of hydrogen fueling infrastructure. Could it also make way for a long-awaited hydrogen powered rotary-engine sports car from Mazda? Read more at Motoring. Samsung SDI unveiled two new lithium-ion stationary batteries at Intersolar Europe. In doing so, Samsung throws its hat in the ring with the likes of automakers Tesla and Mercedes-Benz, using knowledge from electric vehicle batteries in the arena of home solar energy storage. In addition to its 3.6-kWh battery, its new 5.5-kWh and 8.0-kWh batteries offer storage solutions at a larger, more practical scale for solar customers. Called the All-in-One, the battery system, borrowed from electric vehicles, is made up of a photovoltaic inverter, battery PCS and lithium-ion battery, and promises efficiency, compactness, fast installation and an affordable price. Read more from Samsung SDI. The Renault-Nissan Alliance has sold its 250,000th electric vehicle. The quarter-millionth EV was a white Renault Zoe sold to a French computer engineer from Bordeaux named Yves Nivelle. While he credits a government program offering a ˆ10,000 rebate for EV buyers trading in an older diesel vehicle for helping him make the decision to pull the trigger on the new Zoe, "I have to say, I was convinced the first time I drove the car. It's a real pleasure to drive and it feels good to do my part for the environment," says Nivelle. The Alliance had sold around 31,600 EVs from January to May this year, up 15 percent from the first five months of 2014. See the video above, and read more in the press release below. Renault-Nissan Alliance sells its 250,000th electric vehicle • Historic EV milestone reached in early June • Alliance sells half of all EVs globally • EV sales up nearly 15 percent through May vs.