Dept. of Energy
Automaker Loans for Energy Efficiency
Date:
September 25, 2008
Who:
Dept. of Energy
Policy Area:
Sector Policy (Non-Financial)
Economic Target:
Manufacturers
Action Type:
Loans
Maximum Amount:
$25.00 billion
Amount Spent:
$8.00 billion
Deficit Impact:
$7.51 billion Loans to automakers, provided under the ‘Advanced Technology Vehicles Manufacturing Incentive Program,' to retool factories and perform other activities related to producing “advanced technology vehicles” with better fuel economy performance.
Notes:
Deficit impact based upon net-present value of loans authorized. Total loans might equal less than $25 billion, since the risk of default appears to have increased. It is unknown how much has been issued in loans so far.
