Loan Digest

Ford Gets $9.2 Billion Loan To Expand Electric Vehicle Manufacturing

  • 📰 Forbes
  • ⏱ Reading Time:
  • 8 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 53%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

A $9.2 billion loan to Ford’s electric vehicle division will go toward three battery manufacturing plants in the U.S., the Department of Energy announced.

The funds will go toward three manufacturing plants to produce batteries for Ford and Lincoln electric vehicles—the factories are already under construction, with one in Tennessee and two in Kentucky.its electric vehicle spending by $20 billion last year, announcing it planned to push its electric vehicle production to make up half of its total volume by 2030, with 2 million Ford EVs planned for 2026—compared with the roughly 132,000 it produced in 2022.

for electric vehicle sales behind Tesla. These numbers were led by Ford’s Mustang Mach-E model, which was the third best-selling U.S. EV in 2022.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 394. in LOANS

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Personal loan interest rates rise for 3- and 5-year loan termsThe latest trends in interest rates for personal loans from the Credible marketplace, updated twice weekly.
Source: nypost - 🏆 91. / 67 Read more »

Ford JV to get $9.2 billion loan from DOE to build EV battery plants in Tennessee and Kentucky, WSJ reportsFord Motor Co.’s joint venture with South Korea-based SK Inc.’s SK On is set to receive a record $9.2 billion loan from the U.S. Department of Energy to help...
Source: MarketWatch - 🏆 3. / 97 Read more »