DOE Sets Up $25B Loan Plan For Green Autos

Law360, New York (November 6, 2008, 12:00 AM EST) -- The U.S. Department of Energy has issued a $25 billion loan program to encourage U.S. automakers to improve fuel performance standards.

On Thursday, the department released the interim final rule for the Advanced Technology Vehicles Manufacturing Loan Program, a measure that will assist eligible auto manufacturers and parts makers with the costs of re-equipping, expanding and establishing manufacturing facilities in the U.S. that will produce “advanced technology vehicles.”

The DOE said that the vehicles must provide “meaningful improvements” in fuel economy performance, which it defines as...
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