THE CAR AND TRUCK FLEET AND LEASING MANAGEMENT MAGAZINE
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Funding

The company has now raised more than $88 million in funding from firms such as Invus Opportunities, Conversion Capital, Enterprise Holdings Ventures, Madrona Venture Group, Maveron, Perot Jain LP, Total Ventures and Vulcan Capital.

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Federal Reserve Keeps Rates Steady

The Federal Reserve voted unanimously to maintain the target range for the federal funds rate at 1.5% and 1.75% on Wednesday, but hinted at a possible rate hike in June with inflation creeping closer to its 2% goal.

Calif. Fleets Offered $20M for Hybrid Truck Purchases

SACRAMENTO, CA - As of Feb. 12, approximately $11 million is left in the California Hybrid Voucher Incentive Program. All fleets with trucks operating in California are eligible for up to 100 vouchers each, on a first-come, first-served basis.

Progress Energy Gets Help with Electric Efforts

RALEIGH, NC - Federal funds would also allow Progress Energy to invest in some additional public infrastructure for plug-in electric vehicles to encourage faster adoption in service territories.

ZAP Secures up to $25 Million in New Financing

SANTA ROSA, CA - ZAP will use a portion of the funding to pursue longer-term contract production and assembly commitments, and to accelerate deliveries of trucks and vans to fill current fleet and government orders.

Think Global EV Company Says New Funding Likely

NEW YORK - The Norwegian Think Global battery carmaker could emerge with new funding (and a plan to sell EVs in the U.S.) by the end of August, said the company's battery partner Ener1.