DOE Lends $1.5 Million to Nissan North America for Production of All-Electric Vehicle
January 29, 2010

The Department of Energy has closed on a loan to Nissan North America for $1.5 million for use in re-tooling a Tennessee factory to produce the company's all-electric LEAF Vehicle. The loan was announced during a press conference held by Secretary of Energy Dr. Steven Chu at the Washington Auto Show yesterday.

"We have to bring manufacturing back [to the United States]," Chu said. He noted that the factory will create 1,300 jobs, but also will lay a foundation for the future.

"We think this is a good way to create jobs immediately, but also lay a foundation to decrease our dependence on foreign oil," he added. "We want to drive toward higher energy efficiency."

Electric (and green) vehicles were a hot topic at the Washington Auto Show, and this year's event featured a large section called "The Advanced Technology Superhighway," from which Chu made the Nissan announcement.

Stay tuned to™ for an in-depth look at the event, and watch our upcoming February newscast for exclusive video footage.

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