Ford Motor Co - receives federal funding from the Energy Department. Ford will get $5.9 billion to build more fuel-efficient vehicles.Many auto companies, like suppliers and battery makers have pursue a total of $38 billion from the loan program. The company seeks to receive $5.9 billion in loans by 2011, still clueless how much funding Ford would actually receive.
Congress approved the loan program last year to help car companies and suppliers retool their facilities to develop green vehicles and components such as advanced batteries.
Congress says the loans were designed to help the auto manufacturers meet new fuel-efficiency standards of at least 35 miles per gallon by 2020.
Ford has pursue a total of $11 billion from the loan program. Also the Company
said it would invest $14 billion in advanced technologies over the next 7 years.
The loan app was submitted by the company at end of last year, that would help
Ford with the investment.
Ford to receive funding from the government. It doesn't surprise me. It seem to be a ripping effect. Everybody need funding from the government.
ReplyDeleteDude I need some federal funding I run a small beach shop in California. I am about to lose it. If business don't pick up. What about the small businesses getting some government love.
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