Nissan Makes First Cut for Federal Retooling Money

A company spokesman says Nissan is still in the running for a federal loan program designed to help auto companies retool older plants.

It’s the only Japanese automaker that’s applied for part of the $25 billion package passed by Congress in 2007.

Fred Standish says the Department of Energy has accepted Nissan’s application. He declines to say how much Nissan wants for its U.S. operations. But he will say the guidelines established in November would force the company to spend the money at a plant that’s at least 20 years old.

“Smyrna is the only plant of that age that we have in the United States, so there you are.”

Newly installed energy secretary Steven Chu said last week the low ost loans should begin flowing in the next few months.