As part of the Department of Energy’s Advanced Technology Vehicle Manufacturing Loan Program, the government has $25 billion to hand out.
Previous awards have ranged from $50 million to $5.9 billion.
The program provides loans to auto OEMs and parts manufacturers for the cost of re-equipping, expanding, or establishing manufacturing facilities in the United States to produce advanced technology vehicles or qualified components, and for associated engineering integration costs.
The project must be conducted in the U.S. as well as sold in the U.S.
The agency currently has funded $34.5 billion projects that have resulted in 60,000 jobs.
Some companies that have received funding include:
|The Vehicle Production Group||Mishawaka, Ind.||$50 million||900 jobs|
|Fisker Automotivive||Wilmington, Del.||$529 million||2,000 jobs|
|Nissan Automotive||Smyrna, Tenn.||$1.5 billion||1,300 jobs|
|Telsa Motors||Freemont, Calif.||$465 million||1,500 jobs|