Ford, Nissan to receive US technology loans
Published: 23 Jun 2009 17:15:49 PSTDEARBORN, Mich., June 23 - Ford Motor Co and Japan's Nissan Motor Co Ltd will receive nearly $8 billion combined in U.S. government loans to spur development of fuel efficient vehicles, the U.S. Energy Department said on Tuesday.
Ford will receive $5.9 billion to retool factories in Michigan, Ohio, Illinois, Kentucky and Missouri in order to produce 13 models.
Nissan's North American unit will receive $1.6 billion to retool its Smyrna, Tennessee, facility to build electric cars and an advanced battery manufacturing plant.
Start-up Tesla Motors Inc will receive $465 million to build electric drive trains and electric vehicles in California, Energy Secretary Steven Chu said at Ford headquarters in Dearborn.
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