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Is the Advanced Technology Vehicles Manufacturing Incentive Program a good measure of how quickly Uncle Sam will be able to push badly needed federal dollars into the U.S. economy?

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Funds would help developers of batteries for hybrids, EVs.
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Let's hope not.


According to The New York Times, the program that Congress created in 2007 has yet to allocate any of the $25 billion that is available to help push production of electric-powered and other advanced technology, fuel efficient vehicles.


"Some members of Congress are starting to ask why the Energy Department money is not flowing yet," The Times said.


So is the ATVMIP another example of federal bureaucracy at its worst.


Not necessarily.


The program wasn't funded until September 2008, and DOE reports that 43 of the initial applications landed during the final three days leading up to a Dec. 31, 2008 deadline.


ATVMIP's dozen or so full- and part-time employees are wading through applications, some of which are as long as 1,000 pages and detail complex financial and technological issues. The 75 proposals seek a cumulative $38 billion in funding.
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Tags: Fuel Economy, Tax Incentives, Advanced Technology Vehicles Manufacturing Incentive Program, Green Car Loans

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$25 Billion Federal Loan Fund For Green Car Manufacturing Still Untapped was originally published by Green Car Advisor. Read the full story by clicking here.