Energy Dept. Ready to Revive Loans for High-Tech Vehicles?

The U.S. is inching closer to relaunching a controversial loan program to encourage the development and production of advanced-technology vehicles, according to Energy Secretary Ernest Moniz.

Moniz hasn't indicated when new loans might be granted. But he says DOE is considering a plan that would broaden eligibility to include auto industry suppliers.

The department's $25 billion Advanced Technology Vehicle Manufacturing successfully allocated some $10 billion to such companies as Ford, Nissan and Tesla five years ago. But the program was mothballed in 2011 after a some high-profile companies notably Fisker Automotive Inc. defaulted on their loans.

ATVM still has $15 billion in funding to distribute. DOE indicated last August that it was preparing to revive the program. But some analysts question whether the loans, noted for their extensive performance and financial reporting requirements, may have lost their appeal.