Billions for fuel cells: Toyota plans to replace 500 billion yen (4.2 billion dollars) of common equity with unlisted shares that have transfer restrictions. The aim is to secure long-term funding for the development of new technologies including fuel cell cars. Trading is restricted for a period of five years. After that, investors will have the option to sell the shares back or to convert them into common stock.
Borgward spy shots: German Auto Bild shows first spy shots of the Borgward compact SUV scheduled for launch at this year’s Frankfurt Motor Show. The brand plans to issue the model as a plug-in hybrid with a 50-km electric range as well.
autobild.de (in German)
Electric AWD Honda: The Japanese carmaker might make it to Pikes Peak this year with a whole new prototype of a revamped CR-Z, Motoring quotes inside sources. The Pikes Peak CR-Z would enter the competition with four electric motors but the AWD is not likely to make into serial production.
Australia to be left deserted: Although Toyota now started production of the facelifted Camry and Camry Hybrid at its Australian plant, it will cease operations at the facility by 2017. Chevy too is calling it a day in Oz as the new Holden Volt will not be offered there due to low demand but also because the next-gen Volt will not be built as a right-hand drive at all.
automotive-business-review.com (Toyota), motoring.com.au (GM)
Romania to electrify: The Ministry of Environment proposed a scheme that could see the introduction of ‘Eco Vouchers’ worth up to 6,500 euros for the purchase of EVs. Additionally, up to 10,000 EV charging spots could be installed in Romania over the coming years.
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