Where did 200 million dollars go? When Nissan and Department of Energy Secretary Stephen Chu announced yesterday that the DOE had closed (i.e., completed the paperwork for) Nissan's $1.4 billion loan request, we noticed that this was less than the $1.6 billion we heard about when the deal was first announced in June 2009. Katherine Zachary, Nissan North America's manager of corporate communications, told AutoblogGreen that:
So, that's what happened.Since we applied for the loan in late 2008, we have better refined the project costs and identified process efficiencies. As a result, the project costs will be less than originally anticipated, although the project itself and the battery and vehicle capacity remain unchanged. The loan amount was reduced at our request.