What does this funding get me?
The $3 billion in designated funding can be used to manufacture a range of advanced technology vehicles and their components, including light-duty vehicles, medium- and heavy-duty vehicles, locomotives, maritime vessels including offshore wind vessels, aviation, and hyperloop.
The IRA specifies that funds may be used for the costs of providing direct loans for re-equipping, expanding, or establishing a manufacturing facility in the United States to produce, or for engineering integration performed in the United States of, newly authorized types of advanced technology vehicles only if those vehicles emit, under any possible operational mode or condition, low or zero exhaust emissions of greenhouse gases.
Am I eligible?
Eligible recipients include manufacturers of eligible vehicles or components of materials that support eligible vehicles’ fuel economy performance. Tribal entities meeting this description are eligible.
A project must meet all of the following requirements to be eligible for an ATVM loan:
- Manufacture eligible vehicles or components that are used in eligible vehicles. Advanced technology vehicles were originally defined as light-duty vehicles that meet or exceed a 25% improvement in fuel efficiency beyond a 2005 model year base-line of comparable vehicles; and/or ultra-efficient vehicles which achieve a fuel efficiency of 75 miles per gallon or equivalent using alternative fuels. The Bipartisan Infrastructure Law expanded the definition to include medium- and heavy-duty vehicles, locomotives, maritime vessels including offshore wind vessels, aviation, and hyperloop.
- Build new facilities; reequip, modernize, or expand existing facilities; and/or for engineering integration performed in the United States related to the manufacturing of eligible vehicles or components.
- Be located in the United States. Foreign ownership or sponsorship of the projects is permissible as long as the project is located in one of the fifty states, the District of Columbia, or a U.S. territory.
- Provide a reasonable prospect of repayment.
For a full list of eligibility requirements, please visit the DOE website here.
How can I access the money?
The Loan Programs Office is available for pre-application consultations now! Email atvmloan@hq.doe.gov to request a consultation or click here.
What is the timeline?
To remain available for commitment through 9/30/2028.
What other incentives could I use to help me accomplish my goals?
Check the Database of State Incentives for Renewables & Efficiency (DSIRE) for additional incentives that may be offered by your state, local government, or utility, as well as important federal, state, and local policies. For questions regarding DSIRE, contact Justin Lindemann (NC Clean Energy Technology Center) at jplindem@ncsu.edu.
Where can I get more information?
- More information can be found at the DOE website.
- The NC Clean Energy Technology Center provides technical assistance services related to clean transportation technologies. Click here for more information.
- In addition to the resources listed above, a variety of organizations offer technical assistance that may help you access these funds. They are listed on our Get Help page.
- For specific questions on this program or for more assistance, contact Jessica Finkel at info@energyfundsforall.org.