Federal Loan To Spur Advanced Technology Vehicle Development In Oakland Coun

Press Release

Congressman Gary Peters released the following statement today regarding Energy Secretary Steven Chu's announcement of a $528.7 million Advanced Technology Vehicles Manufacturing loan for Fisker Automotive for the development of plug-in hybrid vehicles, including funding for product development at its Pontiac, Michigan office. The project will create or save at least 5,000 U.S. jobs, possibly more. Congressman Peters is a major proponent of advanced technology vehicle development and the author of the Advanced Vehicle Technology Act passed in the House last week.

"Propelling our auto industry into the 21st Century is one key to Michigan's economic recovery," said Rep. Peters. "The American auto industry and Michigan's economy have a promising future ahead if we continue to make smart investments in advanced technology vehicle development. Other nations are aggressively investing in these technologies and we must do the same. That's why I am hopeful the Senate will soon act on my Advanced Vehicle Technology Act, and why the Advanced Technology Vehicles Manufacturing Loan program that made this loan possible should be doubled."

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