• Jan 29th 2010 at 5:19PM
  • 13
2010 Nissan Leaf - Click above for high-res image gallery

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:
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.
So, that's what happened.

[Source: Nissan]

I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.

    • 1 Second Ago
      • 5 Years Ago
      Battery prices are dropping even before the car has been built.
        • 5 Years Ago
        I hate to say it but....

        Wait i actually love saying this so never mind.

        TOLD YA SO!!!
        • 5 Years Ago
        The NRC didn't hear that news yet. :)

        We need BEVs, plug-in hybrids, Ethanol/biodiesel, and CNG to free ourselves from the strangle hold of oil.

        The Nissan Leaf could be our best weapon against the terrorists and the foreign oil interests who bankroll them.
      • 5 Years Ago
      I am happy at least one person is smart enough to know what a loan actually is.
      • 5 Years Ago
      As much as I loved Nissan, the company, I really hate the Canadian dealer network.

      I'm part of a group which has enabled them to launch in my city, yet they would not even let me get close to the Leaf when it came through town, instead preferring to entertain government types, most of whom were rather clueless about EVs. I wrote them a letter -- yes a letter, not an email -- and sent it to head office Japan, but zero reply.

      If there is an alternative to the Leaf, I will get it based purely on my treatment by Nissan, and will encourage all within my sphere to avoid Nissan. If they can't help those who are their biggest supporters, then screw them!
        • 5 Years Ago
        Keep in mind you're dealing with a huge corporation. Once a business gets big enough they seem to forget what appreciation means, and they rarely think rationally about such things. The reps you saw likely didn't know what you did for them and they'd probably have to call their superiors for approval to alter their plan for the day. Sadly I wouldn't expect better treatment from any other car company.
      • 5 Years Ago
      WHA?!?!?! An Automobile manufacturer receiving government aid is REFUSING 200Million because they've found ways to be more efficient with their business?!?!?

      My brain may have just imploded.

      I may become a nissan customer just for hearing that.
      • 5 Years Ago
      The Leaf is top of my list for electric vehicles to buy and this announcement just adds a few more brownie points to Nissan's already impressive score. They have to follow through and the vehicle has to perform as promised. Mitsubishi iMiev dropped several notches when I heard that they claim 100 mile range but fall far short of it in actual driving.

      I will not be brand loyal anymore. Whatever company that has a true electric vehicle with at least 100 mile actual range at a price I can afford will get my business.

      I have bought my last fossil fuel burner vehicle. Never again.
      • 5 Years Ago
      That's good news.
      • 5 Years Ago
      Nissan: I am more impressed than ever with your company and products. THANK YOU for exercising fiscal responsibility when it comes to our tax dollars. Yours is the kind of company that I want to support. I now look forward to putting down a deposit for a Leaf.
      • 5 Years Ago
      Is it only Ford and Nissan that gets it? I'll remember this when I look for my new BEV.

      But, let's get on with putting the cars on the road.
      • 5 Years Ago
      It just makes good business sense!!! Nothing altruistic or noble about it.

      This is NOT A GRANT... it is a LOAN!!

      ***Loans have interest. If they can reduce the cost, then they can pay less in interest since the principle is smaller.***

      Some people think that businesses just want big bailout loans as if it were free money. It is NOT.

      Many consumers are in love with credit... they think the more the better.
      This is why the economy sank... folks getting loans (mortgages) too big for their means and banks too willing to give them.

      Nissan probably initially asked for more money than they needed "just in case". When they got the final cost estimates for the Leaf project, they scaled down the asking amount for the loan to ensure the total interest paid would be as low as possible.
      • 5 Years Ago
      among other things this is a smart PR move for sure, it might come up down the line that the project cost less then the original plan and if it came out that Nissan took that money then there could be an issue for them.

      this is very much in good faith and I think they will find it gives them many dividends beyond this simple announcement

      good on Nissan
    • Load More Comments
    Share This Photo X