Green Options » loan

More Money for the Auto Industry

Lisa Wojnovich — Wed, 24 Jun 2009 23:43:09 +0000

Three more car companies received sizeable loans from the federal government yesterday, but don’t worry; it’s not another bailout. In fact, the$8 billion is just the start of a larger $25 billion project called the Advanced Technology Vehicles Manufacturing Loan Program (ATVM for short) that was thought up back in 2007 and funded by Congress in late 2008 during the Bush administration. The project, overseen by the Department of Energy, is a federal grant and loan initiative bent on providing low interest capital to automobile manufacturers — as well as the makers of their component parts — to promote the development of new automobile technologies that guzzle less gas — and in some cases, no gas at all.

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Dodge “Developing” Another New Electric Car

Jo Borras — Fri, 09 Jan 2009 16:14:32 +0000

Automotive News is reporting that Chrysler is readying an updated version of its Dodge EV concept for the Geneva auto show later this year.

Despite a solid PR launch of Chrysler’s ENVI electric vehicle group, the current Dodge EV is little more than UK-only Lotus Europa with Dodge badges and fly-yellow paint. This new concept, however, promises to be something more.

From Automotive News:

The Dodge EV shown in September was a Lotus-derived electric sports car. Look for the show version to have more Dodge styling cues and possibly be a four-passenger coupe.

Reading between the lines a bit, then, what can we expect from Chrysler?

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Taxpayer Bailouts : The Lie You Need To Know

Chris Milton — Wed, 08 Oct 2008 23:56:13 +0000

I have an issue. A problem, a concern. A nag. It’s an itch, and I just gotta scratch it.

It’s this. America, the UK and Iceland have all been bailed out by the taxpayer. You see it and you hear it: “Taxpayer to pump billions of squidoos into financial system” etc.

Except it’s a bald and blatent lie. The USA’s bailout was $700bn. The UK’s bailout has been estimated at $400bn. Iceland is more tame, at about $5.4bn.

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Money and Debt : New Financial Architecture Required

Chris Milton — Fri, 03 Oct 2008 19:08:46 +0000

Whenever you take out a loan the temptation is to imagine a big mountain of money in a secure vault somewhere.

Your friendly bank manager, a nice affable chap, is on hand doling out credit to any soul who can jump through his hoops.

This is miles, no decades, away from the truth. Here’s how debt works today ….

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Chrysler to Sell Electric Cars in U.S. as Early as 2010

Andrew Williams — Mon, 22 Sep 2008 14:32:26 +0000

Chrysler has announced that it is working on an electric powered version of its Voyager MPV, which could be put into commercial production as early as 2010. The model will most likely be based on the ecoVoyager concept (pictured), first seen at this years Detroit Motor Show. Details are limited at this stage, but it seems that the zero-emission car will have a 300-mile range - pretty impressive for an MPV capable of carrying an entire family and their luggage.

The company has already stated its intentions not to be left behind the competition when it comes to green and fuel efficient vehicle technologies. The electric MPV is the first in a series of three possible production electric cars that will be viewed by dealers later this month, with the one that’s best received going into production first.

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Ford, GM, Chrysler Set for $25 Billion in Government Loans

Andrew Williams — Thu, 18 Sep 2008 13:27:18 +0000

Following a meeting earlier this week with House of Representatives speaker Nancy Pelosi, the ‘big three’ US automakers Ford, GM and Chrysler, are optimistic about their prospects of receiving a multi-billion dollar loan. Pelosi told reporters in Washington yesterday that she plans to unveil a $25 billion finance package next week, which will probably be added to a ’stopgap’ government funding bill.

When (and if) finally approved, much of the loan will be used to convert production to smaller, more fuel efficient vehicles, which are increasingly popular in Europe as a result of the escalating energy crisis. The money will also be added to existing U.S. Advanced Battery Consortium grants to help fund the development and manufacture of next-generation battery technology, such as those used in the forthcoming Chevrolet Volt.

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Loans for Coal Plants Suspended

Maria Surma Manka — Tue, 11 Mar 2008 01:46:48 +0000

Wow — the feds are suspending a major loan program for rural coal power plants, citing the risks of global warming regulations and rising construction costs at the rate of 30 percent a year. Coal plants are a big source of carbon dioxide (CO2), a major contributor to global warming and the electricity source for rural utilities is about 60 percent coal.

Abigail Dillen with EarthJustice — a law group that sued to to block the loan program because of the reasons above — put it this way:

This is a big decision. It says new coal plants can’t go to the federal government for money at least for the next couple years, and these are critical times for companies to get these plants built.

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