Posted on 07/22/2023 2:50:24 PM PDT by dennisw
U.S. Department of Energy (DOE) announced it will be giving Ford $9.2 billion loan to build electric vehicle (EV) factories.
Ford will be using this loan to build three separate factories, will substantially increase the American car manufacturer’s capacity for building vehicles that do not rely on gas.
“Not since the advent of the auto industry 100 years ago have we seen an investment like that,” Gary Silberg, global automotive sector leader at the accounting firm KPMG, told Bloomberg.
Ford’s dedication to ramping up EV production includes plans to make clean energy vehicles more affordable. That’s an important development as, so far, high costs are a common reason people have not been making the switch to EVs.
“It’s going to help make great EVs available to more customers while powering thousands of good paying jobs and American manufacturing,” Dave Webb, Ford’s treasurer, said in a statement, according to The Verge.The company will be joining forces with South Korean manufacturer SK Innovation. Together, the two brands plan to create enough battery capacity to power two million EVs annually by 2026.
The aid from the DOE couldn’t have come at a better time, as some experts predict that we’ll need 10 million EVs on U.S. roads by 2025 to evade the worst effects of our planet’s overheating.
Currently, dirty energy transportation such as internal-combustion cars and buses are responsible for nearly 30% of polluting gases that are contributing to Earth’s rising temperatures. So efforts to speed up the production of vehicles that do not release these toxic gases are important to slowing our planet’s overheating.
Moving toward a world with fewer gas-reliant vehicles benefits the planet in other ways, too. It means less need for toxic liquids like motor oil, which take years to degrade and can harm wildlife and contaminate waterways.
(Excerpt) Read more at msn.com ...
Thank you for that.
I get so tired of seeing news articles saying that programs are funded by "the government," when in reality, it's the taxpayers who are footing the bill.
“L O A N”
💸
Meanwhile, China's CO2 emissions compared to the rest of the world:
The UK auto industry had the opportunity to take the VW Beetle production equipment as war reparations.
But the originators of British Leland decided that the Beetle had no commerical future...
“loan”
They must be held accountable. Unless there is massive improvement in efficiency, and local, self-sustaining nuclear power to energize these vehicles “to save the planet” (LOL), this is just another grand boondoggle to enrich the pitician and his preferred clientele.
Like Father, like Son.
In the early 1980’s Trudeau 1.0 spent approx $10 bil on the “National Energy Program” which was to be a Canadian oil industry nationalization.
It was based on $50 / barrel oil forecasts. By 1986 oil was down to $8 /barrel.
Stalin was planning for war long before the war broke out. He was hiring American Advisers for his Industrialization program back in the late 1920’s and early 30’s. Russian industrial capacity by 1939 was awesome, then number of tanks and aircraft they had dwarfed Germany.
While Lend-Lease was important Russia had a formidable Industrial capacity.
There’s already more electric vehicles than buyers.
EV’s, a product so good that you have to force people to buy them.
I haven’t seen TeslaGator around for awhile, BTW.
Who cares? CO2 is not a poluttant.
Fixed it.
The taxpayers are going to get boned twice—first with the loan that will never get paid back....
and then the bailout of the broke Ford down the road.
I am looking to pick up an F-150 Lightening in about a year or two at $.25 on the dollar.
The DOE is not giving any loans at all. It guarantees loans. If the loan pays off the bank gets the interest. If the loan goes south the taxpayer makes the bank whole. And yes Solyndra was part of that program. The program was original conceived to encourage the financing of construction of nuclear power plants. Then every other kind of energy scam got added.
Guess how many nuclear power plants have been funded as a result of DOE loan guarantees. Maybe ChatGPT could answer that question.
Ford and GM both worked for the Nazi in WW2.
https://www.washingtonpost.com/wp-srv/national/daily/nov98/nazicars30.htm
China is keeping us in oxygen.
Rule of Life #1: Government NEVER makes anything cheaper.
Is this a taxpayer funded deal between Ford and China?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.