Potential applicants for an ATVM direct loan should review the Guidance for Potential Applicants to the Advanced Technology Vehicles Manufacturing Loan Program for more detailed information on general ATVM eligibility requirements.
The ATVM loan program authorizes the issuance of loans to support the manufacture of advanced technology vehicles and qualifying components. In order for a vehicle to be an advanced technology vehicle, the vehicle must be a light-duty vehicle that satisfies specified emission and fuel economy standards, or an ultra-efficient vehicle. To be a qualifying component, the component must be designed and installed for the purpose of meeting the performance requirements for an advanced technology vehicle.
To be eligible for an ATVM direct loan an applicant must:
- Be an automotive manufacturer satisfying specified fuel economy requirements or a manufacturer of qualifying components.
- Be financially viable without the receipt of additional federal funding for the proposed project.
The proceeds of an ATVM direct loan may only be used to pay for ATVM eligible costs after substantial completion of an application has been determined. ATVM eligible costs are:
- Costs that are reasonably related to reequipping, expanding, or establishing manufacturing facilities in the United States to produce advanced technology vehicles or qualifying components; and
- Costs of engineering integration performed in the United States of advanced technology vehicles or qualifying components.
Eligible projects must be located in the United States, but the ATVM program is open to both foreign and domestic manufacturers.