Ford agrees to $9.2 billion US government loan as part of President Biden’s push to bring more electric vehicle production to the United States
Ford and SK’s joint venture, BlueOval SK, would use the funds to build three electric vehicle battery plants, two in Kentucky and one in Tennessee. Ford announced in 2021 that it would build electric vehicle and battery factories in the two states. At the time, the companies said they would invest a total of $11.4 billion in the project. If completed, it would be the largest single manufacturing investment Ford has ever made since the company’s founding in 1903, according to the auto giant.
2 billion, but Ford could use less than that. The loan funds will support 5,000 construction jobs in the two states and, ultimately, 7,500 staff positions at the three plants, according to the DoE. The loan would be part of the DoE’s Advanced Technology Vehicles Manufacturing Loan Program, a $25 billion program to reduce US dependence on oil and reduce carbon emissions.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CBS 2 Legal Analyst Irv Miller on Hunter Biden's plea dealThe White House said in a statement the Bidens love their son and support him.
Read more »
Bidens to greet India's Modi with lotus blooms, but no Gujarati foodPresident Joe Biden and first lady Jill Biden will welcome Indian Prime Minister Narendra Modi to a White House decorated with peacocks and lotus blooms on Thursday, hosting a vegetarian dinner but no specialties from Modi's home state of Gujarat.
Read more »
The Bidens’ India state dinner menu blends Indian, American flavorsWhen the dining is about high-stakes diplomacy, the menu is chosen with guests’ needs and preferences in mind. The state dinner, the third of the Biden administration, will be mostly vegetarian, in keeping with the dietary restrictions of its Indian guest.
Read more »
Ford Continues EV Expansion in Cologne - CleanTechnicaLast year, Ford announced big EV plans in the United States, with Blue Oval City being the biggest and most ambitious project. However, we have to remember that Ford doesn’t only operate in North America, and it has proven again that it’s in for the big EV game globally. Today, Ford inaugurated the Cologne Electric […]
Read more »
Opinion | Why Barack Obama Attacks Tim ScottFrom WSJopinion: If both parties compete for the votes of minorities, that could make race less of a polarizing force in American life. Barack Obama can’t accept that.
Read more »