U.S. DoE Begins Giving Out ATVM Loans: Ford Gets 1st One

Jun 24

Written by: Aaron Turpen   147 views    

Published on June 24th, 2009 in Electric Cars

The Department of Energy has finally announced the first receipient of a low-interest loan from the Advanced Technology Vehicle Manufacturing Incentive Program (ATVM) program: Ford Motors.  Nissan and Tesla Motors are expected to be the next in line.

Ford expects to use the money to help launch their Transit Connect electric delivery truck in 2010 followed by a C-segment car a year after that.

Nissan, meanwhile, is already planning to open a huge (estimated at $1 billion) plant for EVs and range-extended EVs in the USA and the DoE money would likely go towards that endeavor.  That plant is to be an extension of its complex in Tennessee.

Tesla will probably get the most money and almost all of it will go towards getting the Model S into production on time and as expected (2011).  The funds could be contingent on Tesla purchasing an existing plant for refitting rather than building a new one, which has not been what Tesla has planned so far.  Rumors say that Tesla is talking to the owner of a former McDonnel-Douglas facility in Long Beach, California.

Both Chrysler and General Motors had to back out of their applications for DoE ATVM loans due to their current bankruptcy proceedings. This was as we expected.

The next round of announcements from th ATVM program is expected to be aimed towards battery makers like A123 and EnerDel.

Source: DOE ATVM, AutoBlogGreen

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