Ford, Nissan, Tesla score US government green loans
June 24, 2009 by Matt Brogan
The administration of President Obama in the United States has today announced that Ford, Nissan and Tesla have secured ‘green’ government technology loans to promote the development of more fuel-efficient vehicles.
The trio were made eligible for part of the US$25 billion Advanced Technology Vehicles Manufacturing program by legislation passed in December 2007 which approved monies for viable companies who manufacture cars within the USA.
“By supporting key technologies and sound business plans, we can jump-start the production of fuel-efficient vehicles in America,” said US Energy Secretary Steven Chu. “These investments will come back to our country many times over by creating new jobs, reducing our dependence on oil, and reducing our greenhouse gas emissions.”
Ford will receive nearly $5.9 billion, Nissan $1.6 billion, and Tesla $465 million.
The agency plans additional loans during the next several months to other carmakers and suppliers.
Print it: 
Good grief, 5.9 billion to Ford. That is a LOT of money!
Critical phrase: “viable companies who manufacture cars within the USA”.
Not too many other candidates then are there, since most of the other brands do most of their R&D offshore to the US, and clearly GM & Chrysler don’t qualify as “viable” ATM.
“Critical phrase: “viable companies who manufacture cars within the USA”.”
I would have thought GM would score something for the Volt, but then again they have been given 25bn already so i guess not.
Not sure how Tesla only get 0.5bn and Ford get 5.9bn. But as far as i know thats all Tesla were applying for. So bring on the Model S Elon!!!
I’d like to see Telsa also develop a civic/corolla size 4dr daily driver. Their 2dr sports car is great but more people buy 4dr cars as they are more practical.
For those that question the decission for Ford to recieve the monies, Ford has the most econimical range of Hybrids in the US at present, has an advanced Hydrogen programme and has been actively chasing better economy and carbon levels from it’s standard gasoline engines, whilst still trying to apeal to the everyday driver. It is a pity that Toyota decided to put it’s Stateside Prius factory on the backburner as it too would have been in the running to recieve funding.
“I’d like to see Telsa also develop a civic/corolla size 4dr daily driver”
It would be nice given the innovation they have shown in the Model S. I like the boot in the front and back idea!!
But i doubt they could ever get the production levels required to make a mid-sized car.
There is something wrong when in the most capitalistic cut throat country on earth these car companies need government ‘loans’ to do what should be their core industry practice – that is making better and more fuel efficient vehicles. That should be par for the course. What have these guys been doing for the last nearly 40 years since the fuel crisis of the 1970’s
Flying High, the story was about america, not Japan or China, why did you confuse this with the most capatalistic and cut throat?????
Yes Ford does have very economical vehicles in the U.S. and they are better than the Toyota offerings. The Government probably gave Ford the cash because they can actually see the progress Ford are making on economy and emmissions by the product they have already released, unlike some companies (GM) that are just full of hot wind about it and do nothing. Good on ya Ford…..