3.B.2: Aadvanced Vehicle Technologies

Deploy up to $25 billion in loans to support American manufacturing of advanced vehicle technologies.

Other Information:

Through the $25 billion Advanced Technology Vehicles Manufacturing Loan Program, the Administration is supporting competition within the marketplace to produce the most cost-effective solutions to reduce oil dependence. The Administration awarded the first $8 billion in conditional loan commitments in June. These included $5.9 billion for Ford Motor Company to transform factories across Illinois, Kentucky, Michigan, Missouri, and Ohio to produce 13 more fuel efficient models; $1.6 billion to Nissan North America, Inc. to retool their Smyrna, Tennessee factory to build advanced electric automobiles and to build an advanced battery manufacturing facility; and $465 million to Tesla Motors to manufacture electric drive trains and electric vehicles in California. Up to an additional $17 billion in loans will be made under this program over the next several years.

Stakeholder(s):

• American manufacturers

Indicator(s):

Indicator:1

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