- Jan 29, 2010
DOE reduced loan total for Leaf electric vehicle at Nissan's request
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:
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.