Smoke And Mirrors? Projects Wither As Federal Loans For Fuel-Efficient Vehicles Never Materialize

Automakers, suppliers, start-up companies and members of Congress are frustrated that the government is sitting on billions of dollars in untapped loans intended to nurture the next generation of clean, fuel-efficient vehicles.

More than 100 applicants initially requested about $42.7 billion from the $25 billion Advanced Technology Vehicles Manufacturing Loan program since its launch in September 2008. But the Department of Energy has awarded less than $8.5 billion.

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Steve - 1/24/2011 1:18:43 PM

+2 Boost

What ever happened to Free Enterprize? Y'know, the days when America used to do amazing things, all without the need for government bail-outs, government loans, etc.

Agent009 - 1/24/2011 1:48:30 PM

+1 Boost

That was called survival of the fittest. That doesn't happen when you whine to a government that is all too happy to bail you out.

Joe_Limon - 1/24/2011 2:45:04 PM

-2 Boost

Days of Free Enterprise died long ago, in terms of the hybrid movement, the biggest blow to Free Enterprise was when the Japanese government paid for the development of the prius. Since then nobody has been able to sink that many billions of dollars of r&d with any hopes of making a return on investment.