NASHVILLE--U.S. government funds could help Nissan Motor overcome the cost and difficulty of importing lithium ion batteries to power its future electric vehicles.
Nissan seeks a low-interest loan from the U.S. Department of Energy's $25 billion Advanced Technology Vehicles Manufacturing Loan Program to build a lithium ion battery factory in Smyrna, Tenn.
Last week the company confirmed that the Energy Department had accepted its application for consideration but declined to say how much it requested.
Until now, automakers have relied heavily on batteries imported from Asia for gasoline-electric hybrid vehicles. Nissan and Ford Motor have obtained hybrid drivetrains from Toyota Motor. … Read more