GM’s battery joint venture receives $2.5 billion.
EV startups have also requested loans but to no avail; the program has basically been dormant since 2010.
The ATVM program was created by Congress under the administration of former President George W. Bush, allocating $25 billion “to provide low-cost debt capital for fuel-efficient vehicle and eligible component manufacturing in the United States.” Notably, the ATVM program went dark around the same time that Republicans were ramping up their criticism of former President Barack Obama and his administration for its handling of another Department of Energy loan to Solyndra, a clean energy company that later went bankrupt. Ironically, Tesla wasby then-presidential candidate Mitt Romney, who compared the company to Solyndra. Tesla CEO Elon Musk now says he plans on voting for Republican candidates in the next election.
But in ensuing years, Democrats have lost their trepidation over handing out government-backed loans to clean energy companies. President Joe Biden secured $5 billion for electric vehicle charging as part of his bipartisan infrastructure plan, much of which will be paid out in loans to EV charging companies .
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
At world championships, U.S. dominance on track, U.S. fan apathy offDespite a number of impressive performances, there’s a belief in the track community that the U.S. still has a long way to go as a host.
Read more »
Driving My Tesla to the Dark SideWhen writer Mark Oppenheimer bought a Tesla, he didn’t realize that he would be joining the cool clique—and making his old friends suspicious.
Read more »
A New Way to Short Tesla: AXS Investments Launches New Single-Stock ETFsAXS Investments launched eight of 18 approved single-stock leveraged ETFs this month. The funds aim to increase exposure of short-term single-stock investments.
Read more »
Tesla Gets Its Own Lane At Mexican Border CrossingTesla now has a dedicated lane at the border crossing between the Mexican state of Nuevo Leon and the state of Texas
Read more »
Loneliness of the Long-Distance Tesla Uber DriverThe story of a Tesla Uber driver and the issues faced when there is lack of high speed chargers at waiting locations like airports.
Read more »