Ford Satisfied with US Loan
Ford is one of the three car manufacturers who'll receive a share from the $8 billion package. The American manufacturer will get $5.9 billion in loans through 2011 to produce a total of 13 fuel efficient vehicles, including greener versions of existing cars such as Focus, Escape, Taurus and F-150. CEO Alan Mulally also revealed that Ford have even more optimistic plans as it intends to invest up to $14 billion in the next seven years in order to continue green car development and design the models we told you about.
“Ford Motor Company is proud to be among the first automakers deemed by the government to be among the best companies with the best technologies in American manufacturing and fuel efficiency. This green partnership between Ford and the U.S. government will help accelerate the development of advanced technologies for even better fuel efficiency and emissions," Ford President and CEO Alan Mulally said in a press release rolled out today.
"Ford is absolutely committed to fuel economy leadership with every new model we introduce. In fact, we plan to invest nearly $14 billion in advanced technology vehicles in the next seven years. Our partnership with the Department of Energy also will help retool our U.S. plants more quickly to produce fuel efficient vehicles and help meet the new, rigorous fuel-economy requirements.”