Message Font: Serif | Sans-Serif
No. of Recommendations: 0
More Electric Car Loans ‘Remains to Be Seen,’ Chu Says
Energy Secretary Steven Chu said it “remains to be seen in the future” whether about $16 billion in available U.S. government loans to develop alternative- technology vehicles will be disbursed. Providing money for electric-vehicle development was a component of President Barack Obama’s goal of having 1 million plug-in vehicles on U.S. roads by 2015, a number well above current forecasts.

The goal is “ambitious, but we’ll see what happens,” Chu said after touring displays at the Washington Auto Show, where he looked almost exclusively at alternative-fuel vehicles including Nissan Motor Co.’s Leaf and General Motors Co. (GM)’s Cadillac ELR. Obama’s administration hasn’t made a loan under the alternative-technology program, created in 2008, since March 2011. Since then, it’s rejected or not acted on applications from companies including Chrysler Group LLC.

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.