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Secretary Moniz Announces New $55 Million Loan Program

Five years after Tesla got off to a good start with its ATVM loan deal, Energy Secretary Moniz says the DOE is offering a new $55-million program to help electric vehicles.

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Paul Elio's 84-mpg Trike Constantly Getting Closer To Reality

Controversial, helpful and finally put on hiatus, the Advanced Technology Vehicles Manufacturing (ATVM) loan program from the Department of Energy (DOE) has had a tremendous impact on the current flock of plug-in vehicles. Before being paused in 2011, the ATVM handed out money to Ford ($5.9 billion), Nissan ($1.6 billion) Fisker Automotive ($528.7 million), and Tesla Motors ($465 million). That took care of around $8.3 billion of the Bush-era program's original budget of $25 billion, leaving aro

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The Department of Energy handed out four big loans in the Advanced Technology Vehicle Manufacturing loan program (ATVM): Fisker got $528.7 million (then went bankrupt) Nissan got $1.4 billion, Ford got $5.9 billion (both are repaying on schedule, as far as anyone knows) and Tesla got $465 milion, which was quickly repaid. When it was created under the Bush Administration in September 2008, the ATVM loan program had a budget of $25 billion. The four loans only add up to around $8.3 billion, so th

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If you've ever wanted to buy Fisker Automotive – not just a Karma, but the whole company – the opportunity is coming. The federal government is looking for a buyer for the automaker's $168 million Department of Energy debt note. That number comes from the original loan commitment of $528 million. Fisker only received $192 million of that funding, however, and the DOE has since "recouped more than $28 million from the company's accounts." It's that last $168 million that is proving to

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There have been some very public successes and failures from the Department of Energy's Advanced Technology Vehicle Manufacturing loan program, most notably Tesla and Fisker, but the US government is not yet finished. It's been a while – no ATVM loans have been given out since 2011 – but the DOE is finally getting ready to find homes for the billions still at hand. DOE spokeswoman Aoife McCarthy told Bloomberg that, "With no sunset date and more than $15 billion in remaining authorit

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It's been a while since we've paid attention to Fox News attacking electric cars, but has it really been long enough for them to forget some pretty salient details? Looks like it has, according to a new video from Media Matters, which splices together clips from before Tesla Motors made its big profit announcement and the company's other recent items of good news.

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We're willing to bet there are bottles of champagne popping all the way from Washington, DC to Palo Alto, CA today with the announcement that Tesla Motors has, as suspected, paid off the entirety of its $465-million Department of Energy loan.

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A recent report indicates that there's a dark and shadowy secret just waiting to wreck havoc on Tesla Motors: a federal probe into whether, as the conservative Washington Times puts it, "the automaker was using foreign instead of American parts in manufacturing their electric vehicles." Tesla has openly said it uses Panasonic battery cells, for example, so the need for a probe is not quite clear.

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A week after Tesla Motors announced it would be able to deliver the first Model S in June, a month ahead of the original July release date, the startup automaker continued the good news by announcing it will start repaying the Energy Department loans it got in 2009.

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Carbon Motors, maker of the purpose-built E7 police car, won't receive the $310 million in U.S. Department of Energy (DOE) loans under the Advanced Technology Vehicle Manufacturing (ATVM) program that it applied for almost three years ago, and said that it's a victim of politics.

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Carbon Motors, maker of the purpose-built E7 police car, won't receive the $310 million in U.S. Department of Energy (DOE) loans under the Advanced Technology Vehicle Manufacturing (ATVM) program that it applied for almost three years ago, and said that it's a victim of politics.

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Bright Automotive will shut down after the maker of the extended-range plug-in utility vehicles said the federal government took too long to make good on its planned loans to the Michigan-based company, the Wall Street Journal reports, citing a letter company executive sent to U.S. Energy Secretary Steven Chu yesterday.

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Bright Automotive Chief Operating Officer Mike Donoughe invoked President Barack Obama's recent call for U.S. companies to create American jobs while developing alternative energy sources for transportation by requesting that Congress speed up the company's federal loan process.

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On Tuesday, the House Appropriations Committee approved the FY12 Homeland Security Appropriations bill (pdf). As part of this bill, the Committee pushed through an amendment that adds $1 billion in funding for the Federal Emergency Management Agency's (FEMA) disaster relief fund.

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What's been happening at Aptera? The hyper-aerodynamic vehicle company is still moving forward, just not as fast as the original plans called for. In the company's latest newsletter, plenty of virtual ink is dedicated to explaining where things stand with the request for money from the Department of Energy's Advanced Technology Vehicle Manufacturing loan program (still waiting to hear back), the development and design of the 2-series vehicles (still testing) and why Aptera hasn't sold any vehicl

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What's been happening at Aptera? The hyper-aerodynamic vehicle company is still moving forward, just not as fast as the original plans called for (remember when the car was supposed to be available in 2009 2010?). In the company's latest email newsletter, much space is dedicated to explaining where thing stand with the request for money from the Department of Energy's Advanced Technology Vehicle Manufacturing loan program (still waiting to hear back), the development and design of the 2-series v

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Remember XP Vehicles, the "pre-revenue start-up" that issued a statement 13 months ago saying it was "Extremely Disappointed in DOE Rejection of [its] ATVM Application" and asking people to petition the government to help the company? The rejection came after XP asked for money from the Department of Energy's Advanced Technology Vehicles Manufacturing program (ATVMP) to develop its electric inflatable car concept. XP was not happy with the result. It still isn't. In fact, XP Vehicles announced t

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V-Vehicle started with a strategy of secrecy and keeps on walking down the same path. A bit of corporate glad-handing brought the company's prototype vehicle to elected officials and DOE representatives in D.C. yesterday and, true to form, the event was off-limits to the general public (just like a similar event for Louisiana Gov. Bobby Jindal and others in Louisiana last week). The car is making the rounds to boost the company's efforts to pull down a $320 million loan from the DOE's Advanced

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Fisker Sunset – Click for high-res image gallery

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Aptera 2e final design rendering - Click above to enlarge

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