Automakers would have to fund a larger share of future green technology projects if the Trump White House’s budget blueprint passes as written.
The administration proposes to do away with a little-used — and sometimes controversial — U.S. Energy Department loan program, as well as a grant program dedicated to spurring advanced fuel-saving technologies. (Read More…)
Speaking at the Washington (D.C.) Auto Show, U.S. Energy Secretary Ernest Moniz said on Wednesday that part of reviving the dormant Advanced Technology Vehicle Manufacturing loan program may involve making suppliers as well as automakers eligible for the more than $15 billion allocated for the ATVM program that was never loaned out. The program stalled 2011 after the high profile failures of two loan recipients, Fisker Automotive and Vehicle Production Group. Of the other three recipients of ATVM loans, Tesla repaid its loan early and Ford and Nissan continue to pay down their debts on schedule. (Read More…)