Nissan rumoured To Be Getting A $1.1 Billion DOE Loan

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Nissan (NSANY) is scheduled to receive a $1.1 billion loan from the DOE to advance its electric vehicle program, according to “unidentified sources” speaking with Kyodo News (by way of AutoBlogGreen.) Money from the loan would upgrade a plant in Tennessee being used for battery production.

Nissan’s electric car is already pretty advanced as we learned when we took it for a spin. The plan for the company is to roll it out over the next two years in selected markets. By 2012, the car is supposed to be ready for the mass market and ought to cost as much as a family sedan, according to a Nissan rep, which means somewhere between $22,000 and $35,000 to us.

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