DOE ready for more AVTMP loans, now focusing on suppliers
#1
04-02-2014, 03:40 PM
DOE ready for more AVTMP loans, now focusing on suppliers
Filed under: Emerging Technologies, EV/Plug-in, Hybrid, Legislation and Policy, USA
The Department of Energy handed out four big loans in the Advanced Technology Vehicle Manufacturing loan program (ATVM): Fisker got $528.7 million (then went bankrupt) Nissan got $1.4 billion, Ford got $5.9 billion (both are repaying on schedule, as far as anyone knows) and Tesla got $465 milion, which was quickly repaid. When it was created under the Bush Administration in September 2008, the ATVM loan program had a budget of $25 billion. The four loans only add up to around $8.3 billion, so the DOE has some money (around $16 billion) to spare. For a number of reasons - funding requests that didn't meet expectations and political pressures, mostly from Republicans - the DOE has not handed out any money since 2011.
That will likely change, since DOE Secretary Ernest Moniz announced today that the ATVM loan program is being improved with an eye towards suppliers, as you can read in the DOE's letter to the Motor & Equipment Manufacturers Association (PDF). The overall drive to get cleaner cars on the roads remains the driving force behind the ATVM program, but instead of giving money directly to automakers, the new plan is to look at companies that help make fuel-efficient technologies possible. This "may include, but are not limited to, advanced engines and powertrains, light-weighting materials, advanced electronics, and fuel-efficient tires." Interested applicants can start an application here.
Last fall, the DOE announced it would start an "active outreach campaign" to generate more interest in the loan program. Now, the DOE wants to "improve the program, clarify eligibility requirements and increase responsiveness to applicants." It makes sense that the DOE is striving to make the program better, since some now-defunct automakers laid part of the blame for their failure on the "unmitigated disaster" of the loan program.Continue reading DOE ready for more AVTMP loans, now focusing on suppliers
DOE ready for more AVTMP loans, now focusing on suppliers originally appeared on AutoblogGreen on Wed, 02 Apr 2014 18:30:00 EST. Please see our terms for use of feeds.
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The Department of Energy handed out four big loans in the Advanced Technology Vehicle Manufacturing loan program (ATVM): Fisker got $528.7 million (then went bankrupt) Nissan got $1.4 billion, Ford got $5.9 billion (both are repaying on schedule, as far as anyone knows) and Tesla got $465 milion, which was quickly repaid. When it was created under the Bush Administration in September 2008, the ATVM loan program had a budget of $25 billion. The four loans only add up to around $8.3 billion, so the DOE has some money (around $16 billion) to spare. For a number of reasons - funding requests that didn't meet expectations and political pressures, mostly from Republicans - the DOE has not handed out any money since 2011.
That will likely change, since DOE Secretary Ernest Moniz announced today that the ATVM loan program is being improved with an eye towards suppliers, as you can read in the DOE's letter to the Motor & Equipment Manufacturers Association (PDF). The overall drive to get cleaner cars on the roads remains the driving force behind the ATVM program, but instead of giving money directly to automakers, the new plan is to look at companies that help make fuel-efficient technologies possible. This "may include, but are not limited to, advanced engines and powertrains, light-weighting materials, advanced electronics, and fuel-efficient tires." Interested applicants can start an application here.
Last fall, the DOE announced it would start an "active outreach campaign" to generate more interest in the loan program. Now, the DOE wants to "improve the program, clarify eligibility requirements and increase responsiveness to applicants." It makes sense that the DOE is striving to make the program better, since some now-defunct automakers laid part of the blame for their failure on the "unmitigated disaster" of the loan program.Continue reading DOE ready for more AVTMP loans, now focusing on suppliers
DOE ready for more AVTMP loans, now focusing on suppliers originally appeared on AutoblogGreen on Wed, 02 Apr 2014 18:30:00 EST. Please see our terms for use of feeds.
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