Ford granted a $5.9 billion govt loan
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Ford granted a $5.9 billion govt loan
This week, Ford won $5.9 billion in U.S. Department of Energy loans to retool factories as it invests in rechargeable cars, fuel-efficient engines and hybrids.
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Mulally said Ford could be in line for more funding from the Energy Department program. The agency has $17 billion in additional funding for loans to auto companies and congressional allies of the auto industry are backing efforts to allocate another $25 billion.
A greenhouse emissions bill pending in Congress would double that amount to $50 billion. Ford's original total request was $11 billion.
http://www.gminsidenews.com/forums/f...ly-says-81170/
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Mulally said Ford could be in line for more funding from the Energy Department program. The agency has $17 billion in additional funding for loans to auto companies and congressional allies of the auto industry are backing efforts to allocate another $25 billion.
A greenhouse emissions bill pending in Congress would double that amount to $50 billion. Ford's original total request was $11 billion.
http://www.gminsidenews.com/forums/f...ly-says-81170/
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From: Albany, NY
Tesla also got a lot of money.
With the loan Ford can get more Ecoboost engines and hybrids built and the Electric 2012 Focus to market on time. Building cars is capital intensive. Cheap loans get cars out sooner. If GM had more cheap money the CTS coupe and Z28 would be out this summer.
With the loan Ford can get more Ecoboost engines and hybrids built and the Electric 2012 Focus to market on time. Building cars is capital intensive. Cheap loans get cars out sooner. If GM had more cheap money the CTS coupe and Z28 would be out this summer.
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