WASHINGTON (CN) – Automakers and ther suppliers soon will be able to apply for some of the $25 billion in loans for increasing fuel efficiency or developing plug-in electric vehicles.
Fuel efficiency at 125% of the average miles per gallon of vehicles made in 2005 is a goal of the Advanced Technology Vehicles Manufacturing Incentive Program funding the loans.
The Big Three American automakers may not qualify for the loans, as applicants must prove they are financially viable without relying on the direct loan program.
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