Ford 9 billion loan

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Ford gets $ billion loan from Department of Energy // Autos // News | OPTIMUS-AVTO.RU

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DEARBORN, Mich. – The Energy Department said Tuesday it would lend $5. 9 billion to Ford Motor Co. and provide about $ billion in loans to Nissan Motor Co. and Tesla Motors Inc.

Ford Motor Company will accept $5. 9 billion in loans as part of an Energy Department program to spur development of fuel efficient vehicles. Nissan will also receive $ billion, and Tesla will take $ million.

Любопытно! За всю свою историю логотип компании изменялся 8 раз, при этом само название Ford никогда не исчезало с эмблемы.

The U.S. Department of Energy has granted Ford Motor Co. a $5. 9 billion loan to help the automaker retool many of its factories, including the Louisville Assembly Plant on Fern Valley Road, to produce more fuel efficient vehicles.

Recent reports suggest the firm will build the Model S sedan in southern California. In return, it pledged to accelerate development of both hybrid and battery-powered vehicles, close dealerships and sell Volvo. The Impact of the Automakers on the U. The retooling allowed Ford to move production of its Ford Expedition and Lincoln Navigator SUVs to the plant from a production plant in Wayne, Mich.

Auto Industry Bailout (GM, Chrysler, Ford)

Ford has previously stated interest in a Focus EV. The next generation Focus platform should come out in , with the electrified model hitting dealerships about two years later. Ford is also said to be working on an all-electric commercial van for , and a plug-in Ford Escape Hybrid for For Ford, the loans could put them at a significant advantage over Chrysler and General Motors.

While the other two companies spend efforts trying to fix their corporations, Ford will be able to continue pressing ahead with new developments. This infusion of cash will go towards new direct-injection petrol engines, and the creation of electric vehicles. Ford also plans to modify two truck factories into plants for the Ford Focus.

The loan is not a part of the Troubled Assets Relief Program, instead approved as part of a two-year old energy bill. Passed by lawmakers and signed by former President George W.

Nissan is ramping up capacity at their Smyrna, Tennessee, manufacturing facility. They hope the location will be able to produce up to , electric vehicles. Recent reports suggest the firm will build the Model S sedan in southern California. Companies producing autos in the United States will have to comply with new federal mandates requiring fleets to maintain a 35 mpg.

The rules will go into effect in More than applications for aid have been sent to the Energy Department. Loan repayment will begin in Be part of something big Trending.

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