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Published on April 2nd, 2014 | by Zachary Shahan

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DOE Announces Improvements In The Advanced Technology Vehicles Manufacturing (ATVM) Loan Program

April 2nd, 2014 by  

From the DOE (received via email):

Washington D.C. — U.S. Secretary of Energy Ernest Moniz today will highlight key improvements to the Department’s Advanced Technology Vehicles Manufacturing (ATVM) Loan Program at the Motor & Equipment Manufacturers Association (MEMA) Legislative Summit. The ATVM Loan Program plays a crucial role in supporting the growth of the U.S. auto manufacturing industry—including automotive component manufacturing—by helping manufacturers scale up to meet rising demand for fuel-efficient vehicles.

“The U.S. auto industry has evolved since the ATVM Program was established and today we are presented with an opportunity to hit the accelerator on U.S. auto manufacturing growth,” said Secretary Moniz. “Motor vehicle parts manufacturers play a significant role in the development and deployment of new technologies to meet the demand for fuel-efficient vehicles and we believe the ATVM Loan Program can play an important financing role as the industry establishes the next generation of manufacturing facilities in the United States.”

The ATVM Program, administered by the Department’s Loan Programs Office (LPO), has more than $16 billion in remaining loan authority to support the production of fuel-efficient, advanced technology vehicles and components in the U.S. After considering comments from MEMA members, automotive leaders, and industry organizations regarding the effectiveness of the program, the Department is announcing steps to improve the program, clarify eligibility requirements and increase responsiveness to applicants.

This morning, the Department sent a letter to MEMA outlining the following steps it is taking to improve the ATVM Loan Program:

  • Clarified Eligibility For Component Suppliers: LPO has clarified that a broad range of automotive component technologies are eligible for the program. These fuel-efficient technologies may include, but are not limited to, advanced engines and powertrains, light-weighting materials, advanced electronics, and fuel-efficient tires.
  • Improved Responsiveness to Applicants: LPO has updated its program description to describe the application process, eligibility requirements, and the program’s mission and goals.  LPO also offers pre-application consultations with potential applicants to promote an open and transparent exchange of information about the program, its eligibility requirements, and loan terms.
  • Revised the Application Process: We recognize the need for timely processing of applications and a clear understanding of the types of information required during due diligence. We launched an online application portal (https://apply.loanprograms.energy.gov/) to facilitate and improve the ease of the application process.

To date, the ATVM Program has provided approximately $8.4 billion in financing for projects with total project costs of over $14 billion. According to borrower’s estimates, ATVM loans have supported approximately 35,000 direct jobs across eight states: California, Illinois, Michigan, Missouri, Ohio, Kentucky, New York and Tennessee.

Currently, the Department’s Loan Programs Office supports a large, diverse portfolio of more than $30 billion in loans, loan guarantees, and commitments, supporting more than 30 closed and committed projects. The projects that LPO has supported include one of the world’s largest wind farms; several of the world’s largest solar generation and thermal energy storage systems; and more than a dozen new or retooled auto manufacturing plants across the country. 
 
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About the Author

is tryin' to help society help itself (and other species) one letter at a time. He spends most of his time here on CleanTechnica as its director and chief editor. Otherwise, he's probably enthusiastically fulfilling his duties as the director/editor of EV Obsession, Gas2, Solar Love, Planetsave, or Bikocity; or as president of Important Media. Zach is recognized globally as a solar energy, electric car, energy storage, and wind energy expert. If you would like him to speak at a related conference or event, connect with him via social media: ZacharyShahan.com, .



  • JamesWimberley

    I beg to disagree. The auto industry, dominated by very large firms, is well-established and has normal access to the capital markets for worthwhile projects. Subsidies like cheap loans should go to small startups with poor access to capital. for high-risk, high-payoff projects – yes, like Solyndra, one of the expected failures in a successful programme. The government’s job is to set standards that give an incentive to firms to improve products and methods, as well as funding research into both as the Germans do through Fraunhofer.

  • Kyle Field

    Good stuff and a smart move to build on the energy created by Teslas US based manufacturing of next gen cars and batteries to try to catalyze the industry and drive a longer term leadership position not only in tech – but in the ongoing manufacturing.

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