This co-funding will go towards the vehicle lease costs of 12 BMW i3’s, charging infrastructure and marketing, with the aim of increasing EV demand within the rental vehicle sector, which is the largest corporate purchaser of passenger vehicles in New Zealand.
The CRUSE Project’s aim is to bring EV carsharing services to underserved rural communities nationwide, providing rural America with improved transportation access, energy efficiency, and environmental benefits at lower costs to users.
The investment by IAC makes the media and internet conglomerate the largest shareholder in the peer-to-peer rental company.
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.
Municipalities and rural electric cooperative utilities can apply for zero-interest financing to purchase electric vehicles or charging infrastructure.
Nikola Motor Company announced it has raised and funded more than $100 million in August and expects to double it by the end of C-round funding.
Working in partnership with the nonprofit carsharing service Hourcar and Xcel Energy, the city of St. Paul, Minn., applied for federal funding through the Congestion Mitigation and Air Quality Improvement Program.
SoCalGas customers have submitted more than 150 applications to the SCAQMD as part of the $21 million Prop 1B incentive pool. Owners whose applications are accepted will receive $100,000 towards the purchase of a new near-zero natural gas truck.
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.
The Mobile Source Air Pollution Reduction Review Committee designed the program so that it can partner directly with eligible cities and counties in California to jump-start clean transportation projects.
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