Source: AP

AP source: Ford, Nissan, Tesla to get govt loans

WASHINGTON (AP) — The Energy Department is lending money to the Ford Motor Co. and two other automakers from a $25 billion fund to develop fuel-efficient vehicles, congressional officials say.

Energy Secretary Steven Chu was scheduled to announce the loan funding for Ford, Nissan Motor Co. and Tesla Motors Inc. on Tuesday in Dearborn, Mich., the officials said. They requested anonymity because an official announcement was pending...

Nissan is developing an all-electric car with 100 miles of pure battery range for release in late 2010. The car will be made in Japan initially but company officials have said they eventually want to build the vehicle at Nissan's plant in Smyrna, Tenn

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Not content with bailout out foreign banks and insurance companies, our Congress is now bailing out foreign automakers to assist in their plans in building cars in Japan. Unbelievable.