The Doe Refreshes $16b Green Car Loan Program (the One That Funded Tesla & Fisker)

The U.S. government’s stalled and controversial green car loan program is getting a makeover, which could unleash its remaining $16 billion in allocated funds. During an event Wednesday, Energy Secretary Ernie Moniz announced that the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program, which allocated loans to green automakers between 2009 and 2011, will be improved in a few key ways. First off, the program will now offer loans to vehicle parts makers, as well as automakers, that are making fuel-efficient parts like next-generation engines, new types of powertrains, light-weight auto materials, fuel-efficient tires and even advanced electronics.