The secret that is not talked about with the ATVM loan program was that it was created to allow Ford to avoid going into bankruptcy like GM. That's why they got the bulk of the loans, $5.9 billion. The Bush administration still had to sell it to both sides of the fence so it was an Advanced Technology loan program. That high tech angle allowed Tesla and Fisker to join in. It was not easy either, because you had to match whatever funds you got which is what killed a lot of the little fish, like Aptera and others.
Fundamentally the program was there to save Ford from following GM and it succeeded. The whole program is 97.5% successful with Tesla being the shining star of the bunch.
I had never heard this and on it's face it seems quite believable. Are there any links to an article on this? Or can you write one? If true it is an important point to counter the whole "loan programs for EVs is bad." meme.