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Nissan to receive US government loan boost

segunda-feira, 25 de maio de 2009 ·

Nissan to receive US government loan boost

It may be a Japanese car manufacturer, but Nissan Motor Corporation is likely to receive a significant boost from the US government.

The company is set to benefit from 100billion yen in low-interest loans to promote the development of and transition to electric vehicles and other fuel efficient cars. If successful, Nissan will become the first foreign carmaker to win approval for the US direct loans which opens up the possibility for Japan’s third largest manufacturer to produce zero emission electric vehicles in the USA.

When settling on recipients for the loans, the US government apparently feels it is necessary to extract co-operation from foreign companies to accelerate the development and spread of green technology in a move that will also help to fend off potential criticism of protectionism.

Should the deal come to fruition, it is expected that Nissan’s global production plans would have to be adjusted. Nissan plans to roll out an electric vehicle in both Japan and the USA during the fiscal year 2010 and has decided to manufacture the car in Yokosuka, Kanagawa Prefecture. It is also studying producing vehicles in China where it hopes to start selling the cars by the beginning of 2011.

However, the total of $25billion is part of the US government’s programme to support advances in fuel economy and to establish manufacturing facilities in the USA to produce green cars.


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