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Advanced Technology Vehicles Manufacturing Loan Program (4)

Open Date:

Continuous

Close Date:

Continuous

Eligible Recipients:

  • Private Sector

Program Purpose:

  • Energy Infrastructure

Reserved for Energy
Communities?

No

Upcoming Milestones:

Bureau/Office:

Loan Programs Office (LPO)

Funded by:

U.S. Department of Energy

Overview

LPO provides loans to support the manufacture of eligible vehicles and qualifying components under the Advanced Technology Vehicles Manufacturing Loan Program (ATVM), authorized by the Energy Independence and Security Act of 2007. To date, the program has loaned $8 billion for projects that have supported the production of more than 4 million advanced technology vehicles.

What value can LPO bring as a lender to my project? ATVM is one of three distinct loan programs administered by LPO, but all can provide a similar value to borrowers:

  • Access to Debt Capital: Through ATVM, LPO can provide access to debt capital that is priced at U.S. Treasury Rates for auto manufacturing projects in the United States.
  • Flexible, Custom Financing: LPO can provide financing that meets the specific needs of individual borrowers. LPO has experience with corporate, structured corporate, and limited recourse project finance loans. Additionally, LPO has capacity to finance large projects as a sole lender or to fill gaps in financing as part of a group of lenders.
  • Committed Partnership: Lenders often prefer to engage with a project when the deal is fully formed; however, LPO encourages early engagement during project development. LPO can take the time to dive deep and understand the project and its technology. And after loan closing, LPO remains a valuable partner to borrowers throughout the entire lifetime of a project.
  • Specialized Experience: LPO maintains an in-house team of financial, technical, legal, and environmental experts that has expertise with first-of-kind projects and a variety of deal structures. To date, LPO has provided more than $30 billion in debt financing.

Is my project eligible? A project must meet all of the following requirements to be eligible for an ATVM loan:

  • Manufacture eligible vehicles or components that are used in eligible vehicles. Advanced technology vehicles were originally defined as light-duty vehicles that meet or exceed a 25% improvement in fuel efficiency beyond a 2005 model year baseline of comparable vehicles; and/or ultra-efficient vehicles which achieve a fuel efficiency of 75 miles per gallon or equivalent using alternative fuels. The Bipartisan Infrastructure Law expanded the definition to include medium- and heavy-duty vehicles, locomotives, maritime vessels including offshore wind vessels, aviation, and hyperloop.
  • Build new facilities; reequip, modernize, or expand existing facilities; and/or for engineering integration performed in the United States related to the manufacturing of eligible vehicles or components.
  • Be located in the United States. Foreign ownership or sponsorship of the projects is permissible as long as the project is located in one of the fifty states, the District of Columbia, or a U.S. territory.
  • Provide a reasonable prospect of repayment.

In addition, an applicant must demonstrate that it has sufficient funds to carry out the project and is not dependent on other federal support as described in the applicable federal regulations.

Related Resources

Additional information is available on the Resources page.

Funding Details

Funding Source:
Funding Type:
Loan
Total Amount Available:
$17,700,000,000
Limit per Applicant:
Estimated Awards:

Applicant Guidance

Contact Information

Potential applicants are encouraged to engage directly with LPO for no-fee, no-commitment consultations to discuss their proposed project and learn about LPO's process before formally applying. Email atvmloan@hq.doe.gov to request a consultation with an LPO staff member.

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