• Nissan Invests $1.7B in factory

    Jun 08
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    Nissan is building a facility to produce batteries for its LEAF zero-emission vehicle. The vehicle, which will run solely on electric power, and its batteries will be built in Smyrna, Tennessee beginning in 2012. The company will create 1,300 jobs to staff the plant. Nissan’s investment in the production site totals $1.7 billion.

    “What we’re doing here will radically transform the automotive experience for consumers,” said Carlos Ghosn, president and CEO of Nissan. “Today is a major step in helping create a green economy in the United States.”

    The 1.3 million-square-foot facility, one of the largest vehicle battery manufacturing plants in North America, will produce up to 200,000 batteries each year. The vehicle assembly plant, adjacent to the battery manufacturing operation, will produce 150,000 LEAF vehicles each year.

    The U.S. Department of Energy has extended a loan for up to $1.4 billion from the Advanced Technology Vehicle Manufacturing Loan Program.