Washington — Nissan Motor Co. said it will begin U.S. production of its all-electric Leaf on Thursday in Tennessee as part of a $1.4 billion government loan.
The Japanese automaker won an Energy Department loan in 2010 to build a battery plant in Smyrna, Tenn., and to retool to build the Leaf at its assembly plant next door.
The Leaf will be built alongside the company’s gasoline-powered products.
Nissan says it is the only automaker that manufactures its own electric vehicle batteries, at the biggest lithium-ion automotive battery plant in the United States.
The Leaf’s sales have struggled and the automaker failed to double sales in 2012 as it had predicted and instead sold about the same number as in 2011.
Read More at detroitnews.com . By David Shepardson.
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Why did’nt we let china loan them the money, that is where we borrow it from…….looks like barry still wants to get into the loan business, which is not his job, as he has failed so many times……an the USA will get the shaft again.
Why the hell do they keep calling it a loan; just like with the solar and green energy loans, when they go belly up then the taxpayer money is not repaid. The only thing the wasteful loans ensures is that the recipient of the loan will cover and support Obama’s destructive policies.
Congress turn off the money tap. As long as they can waste money and borrow money so they can cry we don`t have any money and can raise taxes from the stupid sheeple that keep sending these fools hard earned money in taxes nothing will ever change. Waste, give away, throw away. I`m surprised they just don`t have a bon fire with OUR money in front of treasury. Quit wasting your tax money on congress and just cut them off and keep it your self.
Hate to bring this up BUT . . . During the last years of WWII Japan had lost all its oil producing areas in the SW Pacific . . Had did they get around you ask? Japan produced all electric Taxis & Buses over 68 years ago and the only problem with them was that they ran silent! And they were normal size . . . not TINY! TEX
Obama just wants his name to be on something GOOD that he can call his own so badly… so he does this type of thing HOPING it will be a winner… then he will have bragging rights. I’ve never seen a man as hungry for attention and glorification as this man is. It’s rather pitiful…. But the more people say to him it cant be done.. he will do just the opposite. No one tells him what to do… NO ONE !!!
Nissan doesn’t really need a loan for this as they are a well-financed and managed manufacturer. Who could blame them for taking what they can get when they’re putting out a risky model with all electric power? All of the other firms that failed with solar got to take a walk, so why not Nissan?