Nissan reduces the amount it intends to invest in EV assembly line
By Andrew C., 26 Aug, 2010. 0 Comments
Nissan Logo
Nissan North America Inc. has lowered by $200 million the amount it intends to invest in a new U.S. electric-vehicle assembly line and battery plant. Spokeswoman Katherine Zachary said that the revision is caused by improved efficiencies the company made to its original construction plan. Zachary also said that the original plan to produce 200,000 lithium ion batteries and 150,000 complete electric vehicles annually remains on target. Nissan's original estimate for the cost of the Smyrna, Tenn. project is at $2 billion and the carmaker had applied for $1.6 billion in low-interest loans from the U.S. Department of Energy to fund 80% of the project. Last week, the DOE loan was approved for $1.44 billion. Zachary said that the DOE loan still stands for 80% of the project's cost, placing the price tag at about $1.8 billion. Zachary declined to indicate what efficiencies Nissan planners have made to the project. [via autonews - sub. required]
Latest Auto Shows
