Automotive Transport Research and Development Act

[AI summary unavailable — showing source text] Automotive Transport Research and Development Act - States that the purpose of this Act is (1): to make grants for, and support through loan guarantees, research and development leading to production prototypes of an advanced automobile or automobiles within four years from the date of enactment and to secure the certification after testing of those prototypes which are likely to meet the Nation's long-term goals with respect to fuel economy, environmental protection, and other objectives; and (2) to interpret and carry out this Act to preserve, enhance and facilitate and competition in research, development, and production of existing and alternative automobiles automobile components. Authorizes the Secretary of Transportation to perform specific tasks, including the following: (1) make grants for research and development efforts likely to lead or contribute to the development of an advanced automobile or automobiles; (2) make loan guarantees for research and development efforts which show promise of leading or contributing to the development of an advanced automobile or automobiles; (3) conduct and accelerate research and development programs within the Department of Transportati…