It’s been Christmas for a while now for automakers that intend on making EVs.  The DOE has a large pool of money set aside to dole out to those it deems worthy.  Fisker recently passed that test and was awarded $527 million to help them develop hybrids that will be affordable. As of now the [...]

Last fall congress approved a $25 billion loan to the automakers as part of their bailout. The loan is going to be dispersed through the department of energy and is to be directed towards vehicles that don’t use much gas. A natural pick for the loans is Tesla Motors since they build vehicles that use [...]

President Bush today announced that Detroit would gain access to some of the TARP fund.  He is allocating $9.4 billion to GM and $4 billion to Chrysler.  The White House expects officials from GM and Chrysler to sign the papers this morning so they can gain access to the cash later today. The loan terms [...]

With lawmakers drawing closer to a loan deal to save Chrysler and General Motors, Chrysler CEO Bob Nardelli told workers this morning that he is “very encouraged by developments over the weekend.” “While the situation in Washington remains dynamic, I am very encouraged by the developments over the weekend and the growing interest shown by [...]

Loans for automakers and parts suppliers from a $25-billion pool expected to pass Congress this week might not reach the industry for six to 18 months, the U.S. Department of Energy said Thursday. Detroit automakers are facing a cash crunch that is expected to last through 2010, and lawmakers added requirements to the loan program [...]