Ford, Nissan, Tesla Get Govt Loans To Build Fuel-efficient Cars

DEARBORN, Mich. — The Energy Department said Tuesday it would lend $5.9 billion to Ford Motor Co. and provide about $2.1 billion in loans to Nissan Motor Co. and Tesla Motors Inc., making the three automakers the first beneficiaries of a $25 billion fund to develop fuel-efficient vehicles. Energy Secretary Steven Chu announced the loan recipients at Ford's Research and Innovation Center in Dearborn.

 

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