First they have to meet specific requirements to receive the loans. These requirements cover items from additional funding through what the loan can be used for. From there each company has plans in place that with create American jobs to help produce and assemble the new vehicles in the United States.
The goal being to produce 100’s of thousands of cars between the two of them each year. The loans each have terms set for the payback period and interest rate. Unlike a couple other American car companies this plan does not require the government to own any part of the company.
Here are the amounts that have been loaned so far:($25 billion program)
Ford ($5.9 billion)
Nissan ($1.6 billion)
Tesla Motors ($465 million)
Fisker ($528 million)
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