Transport

The US Department of Energy (DOE) has closed a $1.4 billion loan agreement with Nissan North America to support its plans to build electric vehicles and advanced batteries.

Nissan plans to use the loan to retool its Smyrna, Tennessee factory to produce the all-electric LEAF, with an ultimate production capacity of 150,000 vehicles a year.

The funds will also support the building of a new state-of-the-art manufacturing plant at Smyrna to produce up to 200,000 advanced battery packs a year.

The two projects are expected to create up to 1300 jobs, says Nissan.
In recent months, the DOE has agreed loans of $465 million to Tesla Motors, to support the creation of manufacturing facilities in California for the company’s Model S electric sedan, as well as $528.7 million to Fisker Automotive to develop plug-in hybrid vehicles and $5.9 billion to Ford to improve the fuel efficiency of its fleet.

“We are committed to making strides to revitalize the American auto industry and supporting the development of clean energy vehicles,” said Energy Secretary Steven Chu.

For further information:
www.energy.gov/
www.nissanusa.com/

Related stories:
US government loans $465 million to Tesla for electric family car (22-Jan)
Electric carmaker Fisker receives $528 million government loan (28-Sept 2009)
US Government loans Ford $5.9 billion to produce fuel efficient cars (18-Sept 2009)
US Government loans $8 billion to Ford, Nissan and Tesla for advanced vehicles (25-Jun 2009)