A little sunlight on the Nissan DOE loan: it's for EVs

Automotive News has answered the question why Nissan applied for that DOE loan program: electric cars and advanced batteries, despite the lack of plans for development in the mid-term. Nissan hasn't confirmed the amount of money it wants to borrow even though the application was sent in in December. It wasn't unveiled until this week. Nissan said that this money would be used to upgrade its Smyrna, Tenn., assembly plant and build a new facility for battery production. Since the Tennessee plant was built in 1983, it is eligible for the DOE's loans - which are meant to upgrade facilities more than 20 years old.

[Source: Automotive News (subs. req'd)]