Tesla secures credit line: To rake in the cash for investments for i.e. the Gigafactory, Tesla has signed a 500 million dollar credit line deal with a group of banks, including Deutsche Bank, Goldman Sachs, JP Morgan, a.o. The agreement could be raised to 750 million dollars. Meanwhile, Tesla has bought another facility building in Fremont, California, to extend its production line. The state also considers giving Tesla a 15 million dollar tax break to further investments in Fremont that could create some 4,400 jobs.
fortune.com, teslamotors.com (credit line), bizjournals.com (Fremont), cbslocal.com (California)
VDL world premier: VDL Bus & Coach took the wraps off its Citea SLFA Electric at the UITP in Milan over the weekend. The electric articulated bus measures just over 18 metres in length and is fitted with a fast-charging system using a pantograph. The German city of Cologne has ordered eight units.
Stepping up production: China’s Guangzhou Auto is investing 2 billion yuan (322 million dollars) in a new facility in the country, reserved to the production of electric and hybrid vehicles. Starting in 2018, the company plans on building some 100,000 vehicles there annually.
Porsche 911 hybrid takes shape: According to Motoring, the next-gen Porsche 911 will go hybrid and could take the shape of the “Carrera 4 with electrically-driven front wheels and petrol-powered rear wheels.” The Porsche 911 plug-in hybrid could become available in about three years.
Lexus summer sale: Private and business customers in the UK can now benefit from a 1,000 pound boost in the Finance Deposit Allowance when buying a new Lexus hybrid. The deal is valid for new vehicle purchases ordered and proposed for finance through Lexus Connect until the end of June.
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