By SEMA Washington, D.C., Staff
The U.S. Department of Energy (DOE) is making low-interest loans available to companies producing fuel-efficient vehicles and the equipment that achieves efficiency gains. The money is available through the DOE’s Advanced Technology Vehicle Manufacturing (ATVM) program. The program offers loans at U.S. Treasury rates for minimal fees. In order to take advantage of the program, the manufacturer must produce components designed to meet fuel-efficiency performance requirements. Qualifying components include:
- Advanced engine technologies (variable valvetrain control, direct injection, turbocharging, start/stop)
- Advanced powertrain technologies (increased number of gear ratios, hybrid/EV powertrain integration)
- Fuel-efficient tires
- Electronics (advanced EV controllers, electric power steering, power electronics, battery systems)
- Light-weighting technologies
- Improved aerodynamics
The loans are offered to support qualified component manufacturing through the building of new facilities in the United States or through the re-equipping, modernizing or expanding of existing facilities in the United States. Manufacturers interested in applying for a loan from the ATVM program should note that the program is designed to provide larger loans, such as loans of $10 million or greater.
For more information on the ATVM loan program, visit the Loan Programs Office website, or contact senior Department of Energy staffers at email@example.com to determine if the program is right for your company.