http://www.energyefficiencynews.comAfion Media LtdUS Government loans $8 billion to Ford, Nissan and Tesla for advanced vehicles<p>The Obama Administration has announced loans totalling $8 billion for carmakers <a
rel="external"
href="http://www.ford.com">Ford</a>, <a
rel="external"
href="http://www.NissanUSA.com">Nissan</a> and <a
rel="external"
href="http://www.teslamotors.com">Tesla</a> to support the production of lower carbon or electric vehicles.</p>
<p>Ford will get $5.9 billion to transform production facilities in Illinois, Kentucky, Michigan, Missouri, and Ohio to produce more fuel efficient models, including the Focus, Escape, Taurus and F- 150.</p>
<p>Meanwhile Nissan North America plans to use its $1.6 billion loan to retool its Smyrna, Tennessee facility to assemble its Infiniti electric vehicles and build a new advanced battery manufacturing facility. Work on the facility will start this year, with production starting in 2012. Ultimately, the plant will be capable of producing up to 150,000 all-electric vehicles annually.</p>
<p>All-electric car maker Tesla will use its $465 million share to set up a manufacturing facility in California for its new family car, the Model S sedan.</p>
<p>The loan will also support the creation of a manufacturing plant for battery packs and drive trains for other carmakers, including Daimler’s Smart For Two city car. Tesla says it will begin manufacturing in 2011 and will reach 30,000 battery packs by 2013.</p>
<p>The funds are part of the <a
rel="external"
href="http://www.energy.gov/">Department of Energy</a>’s <a
rel="external"
href="http://www.atvmloan.energy.gov/">Advanced Technology Vehicles Manufacturing</a> (ATVM) programme, which will award additional loans in coming months.</p>
<p>The ATVM programme, which was initiated in autumn 2008, will provide a total of around $25 billion in loans to car- and component-makers working to improve fuel efficiency by at least 25% over 2005 levels.</p>
<p>“We have an historic opportunity to help ensure that the next generation of fuel-efficient cars and trucks are made in America,” said President Barack Obama.</p>
<p>The loans will help jumpstart the production of fuel efficient vehicles, added Energy Secretary Steven Chu said.</p>
<p>“This opens a new chapter in Nissan’s 26-year manufacturing history in America,” commented Susan Brennan, vice president of manufacturing at Smyrna.</p>
<p>For further information:<br />
<a
rel="external"
href="http://www.energy.gov/">www.energy.gov/</a><br />
<a
rel="external"
href="http://www.atvmloan.energy.gov/">www.atvmloan.energy.gov/</a><br />
<a
rel="external"
href="http://www.NissanUSA.com">www.NissanUSA.com</a><br />
<a
rel="external"
href="http://www.infinitiUSA.com">www.infinitiUSA.com</a><br />
<a
rel="external"
href="http://www.teslamotors.com">www.teslamotors.com</a><br />
<a
rel="external"
href="http://www.ford.com">www.ford.com</a></p>
<p>Related stories:<br />
<a
rel="external"
href="http://www.energyefficiencynews.com/i/2192/">V-Vehicle and Nissan join the race to launch a green car in the US (22-Jun)</a><br />
<a
rel="external"
href="http://www.energyefficiencynews.com/i/1970/">Tesla starts taking orders for all electric family car (27-Mar)</a><br />
<a
rel="external"
href="http://www.energyefficiencynews.com/i/909/">Ford pledges to go small and green (5-Aug 2008)</a></p>
http://www.energyefficiencynews.com/i/2204/
2009-06-25T00:00:00-00:00US policy, transport, road, electric vehicles, electric cars, fuel efficiency, Ford, Nissan, Tesla, Department of Energy, Advanced Technology Vehicles Manufacturing, ATVM