Nissan asks U.S. for loans to help build electric-cars and lithium-ion batteries

Posted: Feb 10, 2009
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Nissan, which recently announced plans to cut a total of 20,000 jobs worldwide, is seeking U.S. government financing to help it build electric-cars and develop advanced lithium-ion batteries. The move makes Nissan the first Japanese automaker to ask the government for taxpayer-funded loans.

Nissan did not disclose an amount of its request but said it will upgrade its Smyrna, Tennessee, plant to build a new facility for battery production.

Nissan is planning to launch its first electric-car in 2010 for select markets. The United States market will get a Nissan electric-car by 2010.

Source: Reuters


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  • Pat

    Oh i would love to hear for Zermatt has to say about this…

  • Kabluey

    Well we bailed-out all of the other dumb sh*tts sooo…

  • zermatt

    Pat,

    At this point the loan situation offers no new surprises.

    Sweden offer GM and Ford money to keep Volvo and Saab running.

    Canada has offered money to GM.

    GM has been in talks with the UK and Australia for money.

    GM has been thinking about taking back pieces of Delphi to increase loans from the government.

    At this point, all auto manufacturers would be foolish not to ask.

    I would prefer that they look for partnerships that would allow for cash injections and not rely on government cash that inevitably has strings attached.

    If I were Ford I would be calling Intel and Microsoft to expand their relationships. Hell, Intel just announced that they are going to invest $7 billion on new plants in the US to take advantage of weakness in their competitors.That is the kind of aggressiveness that I would want to partner with.

    Nissan should seek a partner or two for their battery development and other needs.

  • Pat

    Zermatt will be running for President in four years.

    but one thing still stings me. Should we as an American government be helping out foreign automakers when they are cutting over 20,000 jobs worldwide (2,000 plus of those which will be in the U.S.) Don't get me wrong, if Nissan can pull off something more affordable than Detroit, the deserve it. I just don't think the American taxpayer will agree to this.

  • zermatt

    Pat,

    In principle, if Canada, Sweden, Australia and the UK were to give GM money, what would be wrong with Nissan, Toyota, BMW, Mercedes, Honda, etc. getting US funds to assist US jobs?

    At this point jobs are jobs and we live in an international economy. Americans need to understand that protectionistic behavior has for more dire consequences than they would expect. We still export a huge number of products and commodities that would not find markets if we erect trade barriers.

    Again, I don't want any more government loans to taint any more manufacturers and I think that partnerships make more sense than loans.

  • Bobmarley

    key word/s “international economy”…so many people don’t understand this, including president Obama (I hope he does, but he played on the public’s ignorance of this during his presidential campaign).

  • Bobmarley

    key word/s “international economy”…so many people don’t understand this, including president Obama (I hope he does, but he played on the public’s ignorance of this during his presidential campaign).