FoMoCo announced today that it will receive $5.9 billion in loans out of the $8 billion that the Obama Administration announced in commitments for the development of advanced vehicle technologies. Ford will get its $5.9 billion in loans through 2011 to fund numerous engineering advances in traditional combustion engines and electric-vehicles. The loan will also [...]
The Department of Energy is expected to lend money to FoMoCo, Nissan Motor Co. and Tesla Motors Inc. from a $25 billion fund to develop environmentally-friendly cars. Sources said today that Energy Secretary Steven Chu is scheduled to announce the loan funding for the three automakers. Ford has asked to receive a total of $5 [...]
Yesterday, we reported that Ford will be investing a total of $440 million in its Michigan Assembly plant backed by a $159 million credit from Michigan state. FoMoCo today released in an official statement confirming the report saying that it will invest a total of $550 million to transform the Michigan Assembly plant from a large [...]
Unlike General Motors’ Chevrolet Volt, which is developed all in-house, Ford is getting ready to sell an electric-car that is developed almost entirely by an outside supplier. Canadian auto parts supplier, Magna International, will develop Ford’s electric-offering mostly on its own. For example, the Ford BEV Concept seen at the 2009 Detroit Auto Show earlier [...]
While Volkswagen’s CEO doesn’t seem to be a fan of electric-cars, FoMoCo’s CEO Alan Mulally said that a “major portion” of its lineup in a decade from now will consist of electric-vehicles as the automaker finally gets away from relying on pickups and SUVs to profit. “In 10 years, 12 years, you are going to [...]
FoMoCo said today that it has received a $55 million tax incentive from Michigan to continue development on advanced batteries and electric vehicles. The Detroit automaker said that the refundable tax credit comes through the new Michigan Advanced Battery Credits program. Michigan Governor Jennifer Granholm signed the new bill into law earlier this year. The program [...]
Magna International is really pushing for a contract where the supplier will build an electric-vehicle for FoMoCo. CEO Don Walker says that Magna International is more than capable of assembling the car and actually produced the BEV Concept that Ford unveiled at the 2009 Detroit Auto Show without telling Ford. A production version of the first [...]
Besides showing us the 2010 Ford Taurus large mid-sized sedan and the gas guzzling 2010 Ford Shelby GT500, Ford has announced plans to bring pure battery-electric vehicles (BEVs), next-generation hybrids and a plug-in hybrid to market within the next 4 years. To start, Ford will introduce in North America: – A new battery electric [...]
