"Ford, Nissan and Tesla Awarded $8 Billion"

"The Department of Energy has released the first third of its $25 billion advanced technology loan fund for automakers to 'create thousands of green jobs while helping reduce the nation's dangerous dependence on foreign oil.'

The agency released about $8 billion, with Ford the largest beneficiary, receiving $5.9 billion. Nissan received $1.6 billion and Tesla Motors got $465 million. Sue Cischke, an environmental vice president at Ford, said 'this is not related to our financial viability -- it's very different, and it's what governments do -- assisting the best green technology.'"

Jim Motavalli reports for Wheels in the New York Times June 23, 2009.

Wednesday, June 24, 2009