The Advanced Technology Vehicles Manufacturing (ATVM) Loan Program: A Success Building the Next Generation of Technology in America
The U.S. Department of Energy’s (DOE) Advanced Technology Vehicles Manufacturing (ATVM) Loan Program plays a critical role in rebuilding U.S. manufacturing and helps ensure we make the next generation of globally competitive clean transportation technology in America.
The ATVM was created as part of the bipartisan 2007 energy bill signed into law by President Bush. It was designed—rightly and effectively—to ensure that at the same time that we make big steps to improve vehicle fuel economy, we also invest in building the next generation of globally competitive advanced vehicle technology, components and materials in the U.S. and position the U.S. as a technology leader. Motor vehicle and parts manufacturing is one of the largest manufacturing sectors in the U.S., supporting nearly a million direct manufacturing jobs and millions of additional indirect jobs across all 50 states. The more than $8 billion dollars in loans the program has made to build or retool factories in the U.S. helped underpin an earlier, stronger recovery of the manufacturing sector—one that is ongoing. The auto industry is also the leading manufacturing export sector. This is momentum we cannot afford to lose.