A bill on its way to the White House for President Barack Obama's signature will allow three-wheeled, fuel efficient vehicles, like those made by Aptera motors and Elio Motors, eligible to receive federal funding through the Energy Department.

Rep. Brian Bilbray, RCalif., who cosponsored the legislation said, This is a huge win for scientific innovation and the environment. We need more innovation and less regulation when it comes to promoting new ways to save energy while saving money at the pump.

Not surprisingly, General Motors has criticized the move, saying that the monies available through the Energy Department's Advanced Technology Vehicles Manufacturing Incentive Program should go to large carmakers whose inventories can help to save gasoline on a significant scale. GM has, itself, applied for three of the loans available through the program totaling $10 billion.

Aptera, developer of a plug-in electric called the 2e, will begin mass production in mid-2010 and will seek as much as $75 million from the Energy Department. The 2e will be able to travel a minimum of 100 miles on a single charge.

Elio will market its gasoline-powered three-wheeled vehicle by the spring of 2011 with an estimated fuel consumption of 83 mpg and a sticker price of less than $7,500.

The new legislation overturns the old rule limiting funding to four-wheeled vehicles and expands loan eligibility to full-enclosed vehicles that can carry two adults and average at least 75 mpg.