Japan Plans Solar, Nuclear and Electric Car Loans

Japanese PM proposes equivalent of $1.1 Billion in low-interest loans for developers of electric cars and solar and nuclear power.

Published: 12-Feb-2010

O -- Japanese Prime Minister Yukio Hatoyama’s cabinet endorsed planned legislation to offer 100 billion ($1.1 billion) in low-interest loans to developers of electric cars and solar and nuclear power.

The government will offer financing at rates about 0.2 to 0.3 percentage point lower than ordinary commercial loans to developers of photovoltaic cells, lithium-ion rechargeable batteries, and nuclear reactors, Tetsuya Hamabe, the director of the trade ministry’s industrial finance division, told reporters in Tokyo today.

Japan wants to speed the development of next-generation clean energy technology amid an intensifying global race to capture the biggest share of the market for less-polluting power generators and vehicles. The move comes after U.S. President Barack Obama proposed tripling federal loan guarantees for new nuclear power plants to $54 billion.

One hundred billion yen will be offered in the fiscal year starting April 1, and that figure should expand to several hundred billion in coming years, Hamabe said. The loans will help create jobs and achieve sustainable economic growth, he said.


Camille Jenatzy was first to break 100km/hr speed barrier in his 1899 electric car, La Jamais Contente.

Former Pirelli Tire North America CEO addresses local Rotary Club.

Roadster #750 completes road trip to Detroit despite winter driving conditions and heavy snow.

Telsa will donate the full value of production car VIN 1,000 to charities.

Subaru R1e negotiating the streets of Manhattan Island, New York City.

The range limitations of most early electric cars will matter less in tightly packed urban areas, where the daily driving distance is likely to be much shorter than in the suburbs or rural areas.


blog comments powered by Disqus