May 22, 2012

Department of Energy Finalizes $50 Million Loan for Vehicle Production Group

New, Wheelchair Accessible Vehicle to Run on Compressed Natural Gas Expected to Result in 900 U.S. Jobs

Washington, D.C. - U.S. Energy Secretary Steven Chu announced today that the Department of Energy finalized a nearly $50 million loan to The Vehicle Production Group LLC.  The loan will support the development of the six-passenger MV-1, a purpose-built wheelchair accessible vehicle that will run on compressed natural gas.  The vehicle will be produced at the Mishawaka, Indiana AM General Plant.

"Advances in vehicle technology like this will help reduce our dependency on oil and ensure that our nation's workforce is producing the best, most innovative vehicles in the world," said Secretary Chu.  "We hope projects like VPG will encourage the development of other compressed natural gas vehicles, resulting in reduced emissions, new jobs and increased independence for Americans who use wheelchairs."

The compressed natural gas vehicle MV-1 will use no gasoline and will produce lower emissions than gasoline-fueled vehicles.  Vehicle Production Group estimates that at full capacity, the project will produce over 22,000 vehicles per year.  The company estimates the project will produce over 100 jobs in Indiana, in addition to approximately 800 more direct and indirect jobs across 17 states for the assembly, part suppliers, production and sale of the vehicle.

Vehicle Production Group, a new American car company based in Miami, Florida, says MV-1 is the only purpose-built vehicle that is designed from the ground up for wheelchair accessibility.  The company also states that MV-1 is the only factory-built light-duty vehicle to date that meets or exceeds the guidelines of the Americans with Disabilities Act.  The vehicle features a deployable access ramp with a 1,200-pound weight capacity, a 36-inch entryway and an interior that accommodates up to six occupants with the optional jump seat, including one or two wheelchair passengers and the driver.

The Department of Energy's Loan Programs Office oversees the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program.  The ATVM Loan Program supports the development of innovative, advanced technologies that create thousands of clean energy jobs while reducing the nation's dependence on oil.  The Department has provided over $8 billion in loans to advanced technology vehicle manufacturers, including Ford Motor Company, Fisker Automotive, Nissan North America and Tesla Motors.

Department of Energy - © Copyright 2012

About the Author

The Department of Energy (DOE) has one of the richest and most diverse histories in the Federal Government. Although only in existence for a quarter century, the Department traces its lineage to the Manhattan Project and beyond.

DOE supports museums and historic facilities across the country dedicated to displaying and interpreting the history of the Department and its scientific and technological missions. Public tours are also available at some of the Department's sites.

Owning some of the twentieth century's most historically significant physical properties,...

202-586-5000

Boost: AJAX core statistics

Legal Disclaimer

You are responsible for reading, understanding and agreeing to the National Law Review's (NLR’s) and the National Law Forum LLC's  Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only. Any legal analysis, legislative updates or other content and links should not be construed as legal or professional advice or a substitute for such advice. No attorney-client or confidential relationship is formed by the transmission of information between you and the National Law Review website or any of the law firms, attorneys or other professionals or organizations who include content on the National Law Review website. If you require legal or professional advice, kindly contact an attorney or other suitable professional advisor.  

Some states have laws and ethical rules regarding solicitation and advertisement practices by attorneys and/or other professionals. NLR does not accept advertising from attorneys or law firms. The National Law Review is not a law firm nor is www.NatLawReview.com  intended to be an advertisement or a referral service for attorneys and/or other professionals. The NLR does not wish, nor does it intend, to solicit the business of anyone or to refer anyone to an attorney or other professional.  NLR does not answer legal questions nor will we refer you to an attorney or other professional if you request such information from us. 

Under certain state laws the following statements may be required on this website and we have included them in order to be in full compliance with these rules. The choice of a lawyer or other professional is an important decision and should not be based solely upon advertisements. Attorney Advertising Notice: Prior results do not guarantee a similar outcome. Statement in compliance with Texas Rules of Professional Conduct. Unless otherwise noted, attorneys are not certified by the Texas Board of Legal Specialization, nor can NLR attest to the accuracy of any notation of Legal Specialization or other Professional Credentials.