Wednesday, February 11, 2009

Nissan, Tesla, expect govt loans for EVs

Nissan and Tesla are both well on the way to receive loans from the federal government to support their electric car manufacturing plans. Nissan applied for a loan to upgrade its Smyrna, Tennessee plant to assemble electric cars and build a new facility for battery production, according to an Automotive News report appearing in Autobloggreen.

Yahoo Finance reports that Tesla is expecting a $350 million DOE loan to set up a factory to build their as yet unseen Model S 4-door sedan. The big reveal is scheduled for March 26.