Nissan, Ford & Tesla To Receive $8Bn in Government Funds

Nissan, Ford and Tesla will soon receive a $8 billion loan from a $25bn account held by the United States government. The funding will come as an attempt to allow automakers to per sue green car technology and production.

The Energy Department did not comment on this, but news agencies have said that full reports on this should be released very soon. Neither of the automakers commented on this at all.

It was said that Ford were looking to receive $5bn by 2011, and Tesla needed $450 million. Nissan also said that they would need some funds to survive with a green future. The full amount of money which automaker will receive is still unannounced.

Nissan said that they will soon build green cars in the US, so this means that a government funding package is a good idea. Nissan’s spokesman, Fred Standish, said the following as the automaker hopes “to be approved for this loan as we provided a very strong business proposal. At this time, we have nothing further to say or to announce.”

Ford said that they might need to receive government funding after being the only company on the safe side without having to take funds when both GM and Chrysler did.