Advanced Technology Vehicles Manufacturing
| Type | Program |
|---|---|
| Sponsor Organization | Loan Programs Office |
| Top Organization | N/A |
| Creation Legislation | Energy Independence and Security Act of 2007 |
| Website | Website |
| Purpose | To provide direct loans for the manufacture of fuel-efficient, advanced technology vehicles and qualifying components in the United States, aiming to reduce petroleum consumption and greenhouse gas emissions while strengthening the domestic auto industry.[1] |
| Program Start | 2008 |
| Initial Funding | $25 billion in loan authority[2] |
| Duration | Indefinite |
| Historic | Yes |
Advanced Technology Vehicles Manufacturing Loan Program (ATVM) provides direct loans to support the manufacture of fuel-efficient, advanced technology vehicles and qualifying components in the United States. Its goal is to reduce petroleum consumption and greenhouse gas emissions while strengthening the domestic auto industry, facilitating the transition to cleaner transportation technologies.[3]
Goals
- Support the production of vehicles that achieve higher fuel efficiency.[4]
- Foster the development and deployment of advanced automotive technologies.
- Reduce the U.S. dependence on foreign oil through domestic manufacturing.
Organization
The ATVM Loan Program is administered by the Loan Programs Office (LPO) within the U.S. Department of Energy. The program is led by the Executive Director of LPO.
Partners
- No specific partnerships are listed; the program works directly with automotive manufacturers and suppliers.
History
The ATVM Loan Program was established under the **Energy Independence and Security Act of 2007** to help the U.S. automotive industry transition to more fuel-efficient vehicles amid the 2008 financial crisis. Significant loans were issued to companies like Ford, Nissan, and Tesla, which supported the production of electric vehicles and advanced batteries. Over time, the program has seen expansions in eligibility, notably in 2024 to include ultra-efficient vehicles and various non-road advanced technology vehicles, reflecting broader energy and transportation policy goals.[5]
Funding
The program was initially authorized with $25 billion in loan authority, backed by a $7.5 billion credit subsidy appropriation.[6] It operates on a revolving basis, where loan repayments can be reused for new loans. Since its inception, the ATVM has provided loans without additional funding requests, relying on the initial authorization and repayments.
Implementation
Implementation includes:
- A detailed application process with project evaluation for technical and financial viability.
- Loans are offered at U.S. Treasury Rates, providing competitive financing to eligible projects.
- Continuous eligibility expansion to encompass new vehicle types and technologies.
The program has no defined end date, intended to support the automotive industry's shift to advanced technologies indefinitely.
Related
External links
- https://www.energy.gov/lpo/advanced-technology-vehicles-manufacturing-loan-program
- wikipedia:Advanced Technology Vehicles Manufacturing
Social media
- No specific social media accounts for ATVM; follow the Department of Energy for updates.
References
- ↑ "Advanced Technology Vehicles Manufacturing Loan Program". https://www.energy.gov/lpo/advanced-technology-vehicles-manufacturing-loan-program. Retrieved January 30, 2025.
- ↑ "Advanced Technology Vehicles Manufacturing Loan Program". https://www.energy.gov/articles/advanced-technology-vehicles-manufacturing-loan-program. Retrieved January 30, 2025.
- ↑ "Advanced Technology Vehicles Manufacturing Loan Program". https://www.energy.gov/lpo/advanced-technology-vehicles-manufacturing-loan-program. Retrieved January 30, 2025.
- ↑ "Advanced Technology Vehicles Manufacturing Loan Program". https://www.energy.gov/lpo/advanced-technology-vehicles-manufacturing-loan-program. Retrieved January 30, 2025.
- ↑ "Statutory Updates to the Advanced Technology Vehicles Manufacturing Program". https://www.federalregister.gov/documents/2024/04/29/2024-09020/statutory-updates-to-the-advanced-technology-vehicles-manufacturing-program. Retrieved January 30, 2025.
- ↑ "Advanced Technology Vehicles Manufacturing Loan Program". https://www.energy.gov/articles/advanced-technology-vehicles-manufacturing-loan-program. Retrieved January 30, 2025.