Energy Secretary Steven Chu today announced the closing of a $1.4 billion loan to Nissan North America, Inc. to support work on their Smyrna, Tenn. plant that will produce the Nissan LEAF; Nissan’s zero-emission, all-electric vehicle, and the lithium-ion batteries that will power them. The loan comes by way of a program that stems from Energy Independence and Security Act of 2007 by which Congress authorized $25 billion to accelerate the development of technology to increase U.S. energy independence. “Nissan is committed to zero-emission mobility. This loan, which will bring production of the Nissan LEAF to Tennessee, is a significant step in sustaining American jobs and American manufacturing.” said Scott Becker, senior vice president, Administration and Finance for Nissan NA. The Energizer Bunny, while pleased that Americans will be getting jobs, was pissed about not being invited to work the assembly line! More details can be seen here.
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