Ener1 (HEV) has applied for a $480 million low interest loan from the government as a part of a federal program called the Advanced Technology Vehicle Manufacturing Incentive Program to spur the development of the next generation of electric vehicles.  The $25 billion program, administered by the Dept of Energy will be used to aid auto companies in the retooling of their manufacturing facilities to improve auto efficiencies.

If the funds are granted, it will … Read the rest