Nissan's Electric Car Plant to Cost $200M Less
Katherine Zachary, spokeswoman for Nissan North American Inc., says that due to the company’s improved efficiencies in the original construction plan of the U.S electric vehicle assembly line and battery plant, the investment amount has been reduced by $200 million.
A few months back, Nissan applied for low interest loans under the Department of Energy's Advanced Technology Vehicle Manufacturing Incentive Program. Nissan would have to use the loan to build something in the U.S. in order to qualify it. So Nissan planned to build electric vehicles at its Smyrna, Tennessee assembly plant and applied for a $1.6 billion loan for an estimated $2 billion project. The amount finally approved by DOE was $1.44billion.
Zachary mentioned that the original plan to produce 200,000 lithium ion batteries and 150,000 complete electric vehicles annually remains on target.
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