Established in the waning days of the Bush Administration, the U.S. Department of Energy’s Advanced Technology Vehicle Manufacturing Program lent a total of $8.3 billion (out of the budgeted $25 billion) to Nissan, Tesla, Ford and Fisker, yet has not been able to make new loans for a number of reasons since 2011.
That status, however, is about to change.
Autoblog Green reports DOE secretary Earnest Moniz announced the program will be retooled with a focus upon suppliers. Improvements to the program will include clarifying eligibility requirements for potential applicants, better responsiveness toward applicants, and a revised application process.
As for said applicants, the program wants to bring in companies who help make fuel-efficient vehicles possible, including suppliers of “advanced engines and powertrains, light-weighting materials, advanced electronics, and fuel-efficient tires.”