Nissan Gets $1.4B Loan from DOE to Build Leaf Electric in the US
Nissan's Plant in Smyrna, TN to Build Nissan Leaf
Nissan secured $1.4 Billion in loans from the Department of Energy this year to help modify it’s Smyrna plant to manufacture the Nissan LEAF; Nissan’s zero-emission, all-electric vehicle, and the lithium-ion batteries that will power them.
The loan was issued as part of the 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, Nissan North America.
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The Nissan LEAF on tour in Atlanta, GA
The loan will directly result in the creation of up to 1,300 jobs when the plant is operating at full capacity, which will mean the production of 150,000 vehicles and 200,000 battery packs per year.
The Leaf is scheduled to hit showroom floors across Europe, Japan, and the US in December of 2010. See the Nissan LEAF on tour.
