East TN lost another one!
Nissan will build electric cars and the batteries that will power them in Smyrna, Tennessee.
The economic development efforts from the Kingsport/Sullivan County,Tennessee area seems to be not working because all of the recent announcements of large industry seems to be going to other places in the State of Tennessee.
It appears that there are those responsible for helping the economic developments are in over their heads or they are more concerned about using the Chamber of Commerce, Networks as a social network. I think it is time for new people and new direction.
Nissan Motor Co plans to launch production of electric vehicles and their batteries in the United States to tap low-interest loans for green vehicles, the Nikkei business daily said.
The overall investment is estimated at 50 billion yen ($516.4 million) and may rise to 100 billion yen, it said.
Under the plan, the new electric-car assembly lines are to be built at a plant in Smyrna, Tennessee, where Nissan North America Inc is based, the paper said.
The facility, capable of making 50,000 to 100,000 eco-friendly vehicles a year by 2012, is expected to first produce a small passenger car, it said.
Nissan also intends to construct a production facility for high-capacity lithium ion batteries at the Smyrna site with NEC Corp (6701.T).
The company has applied for funding from the U.S. government under a low-interest-loan program to support the automobile industry.
Nissan will soon receive approval for a loan of more than 100 billion yen, the paper said, citing a source familiar with the matter.
Nissan intends to assemble up to 50,000 electric cars a year in Japan starting in fall 2010, the paper said.
via Nissan to make electric cars in US – Nikkei | Industries | Consumer Goods & Retail | Reuters.