Toyota sold socially conscious debt denominated in dollars for the first time in two years as the Japanese carmaker looks to boost its production of electric vehicles and compete with Tesla.

The automaker priced $1.5 billion (¥215.5 billion) of sustainability bonds in three parts, according to a person with knowledge of the matter. The longest portion of the offering, a 10-year security, yields 1.08 percentage points above Treasurys, after initial discussions of around 1.35 percentage points, said the person, who asked not to be identified as the details are private.

Book orders were said to be over $6 billion as of 11 a.m. Thursday New York time, according to the person with knowledge of the situation. It’s the first time the firm is tapping the U.S. investment-grade market with a bond linked to environmental, social and governance issues — or ESG — since 2021.