loans

Just like rival Californian electric car company Fisker, which recently secured a $528.7 million loan from the Department of Energy, Tesla has also secured a $465 million low interest loan from the federal government that will be used to fund the construction of two new factories. The factories...

The Fisker Karma will be built at a new facility called Project NINA.

Porsche Automobil Holding SE, the company that owns Porsche AG and has sought a controlling interest in Volkswagen AG, will not be on the list of government loans in Germany this year according to the latest reports. Porsche is already actively seeking help from outside sources, however. Porsche...

Former president Bush signed the $25 billion Advanced Technology Vehicles Manufacturing Incentive Program into life last year, but for the past 8 months, the U.S. Department of Energy (DOE) has sat on the money, carefully evaluating applications to see which companies would make the best use of the...

President Bush signed the $25 billion Advanced Technology Vehicles Manufacturing Incentive Program into life last year, but for the past 8 months, the U.S. Department of Energy (DOE) has sat on the money, carefully evaluating applications to see which companies would make the best use of the funds...

Despite Volvo being a Swedish company, the trouble-stricken carmaker may have to look to the Belgian government for financial aid to help keep it on its feet. Volvo currently operates a plant in the Flanders region of Belgium, and the Flemish Premier Kris Peeters has been in talks with Volvo CEO...

General Motors received an additional $4 billion in loans from the U.S. Treasury late on Friday, while also reaching a cost-cutting agreement with the Canadian Auto Workers union ahead of a rumored Chapter 11 bankruptcy filing expected next week. This is in addition to the $19.4 billion already...

As the U.S. struggles to bootstrap itself out of one of the worst economies in decades, the federal government continues its spending spree, earmarking $787 million to biofuels. The goal is ostensibly to meet a target set by former President George Bush of 36 billion gallons of biofuel in the...

GM's decline over the course of this year wasn't enough to convince bondholders and the UAW to grant any concessions, but recent reports that the carmaker was in precautionary preparations for filing a Chapter 11 may have galvanized action on the part of the bondholders. Allowing GM to go to...

In the first major sign that the U.S. government was keen on helping out the entire domestic auto industry and not just the Detroit 3 carmakers, the U.S. Treasury approved a $5 billion aid package last month for automotive parts suppliers. The aid is to come in the form of guarantees for...

No one really knows what to make of the auto market right now, least of all the industry itself. Fiat is forecasting blue skies, GM is on the brink of failing to meet a restructuring deadline, and Ford is still chartering private jets - but President Obama and the task force on the industry are...

Last November, the Department of Energy issued interim rules for the use of a already-approved $25 billion loan package earmarked for the construction of more fuel-efficient vehicles. But now, almost five months later, there has still been no disbursement of the funds. Over 75 applications for the...

Warning of impending layoffs should government aid for Jaguar-Land Rover not arrive soon, Tata Motors Chairman Ratan Tata restated the need for government-sourced funds. An urgent call went out in February from the company's CEO, and though aid of £2.3 billion ($3.25 billion) was approved by the...

Tesla's first all-original car, the upcoming Model S plug-in hybrid sedan, is due to be unveiled to the public in just a week’s time but the company has already released a couple of teaser shots - one showing the undercarriage and another showing the new glasshouse. In the lead up to the...

General Motors and Chrysler have told authorities in Canada they need as much as $8 billion in aid to stay afloat, more than double the original amount requested just three months ago, and in the latest twist Chrysler has threatened to pull out its operations if it does not receive the funds. The...

Once again General Motors is issuing a warning that it may run out of cash. How, you might wonder, considering the billions in taxpayer dollars that have already been pumped into the company? It's unfortunately very simple: GM is still playing catchup with its debt, and all the money spent so far...

The times, they are a changin'. Carmakers that had seemed bulletproof, or at least too big to fail, are teetering on the brink of insolvency. Government regulations and stipulations on loan money are cinching down emissions and efficiency requirements. And tax incentives are spurring development of...

People aren't buying new cars. It's really that simple in a lot of ways; the economy is down, the future is uncertain and no one wants to bet their house that they'll still have a job in six months. So Chrysler has been going wild with incentives to try to prop up sales in a market that just...

The solipsism of American media has a way of quietly filtering out much of the rest of the world, but the car industry is in a pinch just about everywhere. Nowhere is that picture clearer than in Sweden where ailing carmakers Saab and Volvo have been seeking government aid for months. Today word...

Earlier this month General Motors announced that it was putting plans for the construction of a new engine plant in Flint, Michigan, on hold. The plant was to build a new range of 1.4L four-cylinder powertrains for cars like the Chevrolet Volt and Cruze, but a company spokesperson has now revealed...