Recent reports have surfaced that suggest Mazda is currently on the market for funding to the tune of $1.1 billion to help speed up their hybrid vehicle development.

To secure this funding Mazda will be issuing 96.8 million treasure shares and 315.2 million new shares and then reinvest the collected money back into their company. In addition to hybrid development, Mazda will be looking at other environmentally friendly technologies to help power their cars and get back into the green movement game.

Will it work? Only time will tell.

Read (Reuters)

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Honda has really been taking the initiative to move their entire line of vehicles towards a much greener pasture.

This time, it seems that President of Honda, Takanobu Ito, has come forward to say that they have halted their development of V8 engines along with RWD vehicles to instead focus on the obviously greener alternative; hybrids.

Below is what Mr. Ito had to say:

I don’t think we need a classic front-engine, rear-drive car. It would be meaningless to emulate what other companies have been doing for more than five decades… We are considering incorporating new engines, motors, transmissions and chassis into mid- to large-sized hybrid vehicles, and I think this is a good opportunity for change.

Let’s hope other companies do the same without sacrificing power. Because I’m sure many of you out there share my need for speed.

via AutoBlogGreen

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