U.S. DOE issues rules for Auto Loan Program—Largest battery and Fuel Cell powered vehicle program ever

摘要

The U.S. DOE has issued an "Interim Final Rule" that implements the Advanced Technology Vehicles Manufacturing Incentive Program authorized by section 136 of the Energy Independence and Security Act of 2007 (EISA). The FY09 Continuing Resolution provided DOE with funding to make up to 25 billion in direct loans to eligible applicants for the costs of reequipping, expanding, and establishing manufacturing facilities in the U.S. to produce advanced technology vehicles, and components for such vehicles. These vehicles must provide meaningful improvements in fuel economy performance.