While Ford managed to get $5.9 billion from the DOE's ATVMLP fund yesterday, that's only about half of what the automaker asked for. Ford's original request for help was for $11 billion. And, since the feds are still handing out money at a high rate, representatives from the Blue Oval are not giving up on getting the rest of the money they asked for. Sue Cischke, Ford group vice president of sustainability, environment and safety engineering, told Automotive News (subs req'd) that, "If they raise the appropriations from the $25 billion to the $50 billion, we qualify." There hasn't been much chatter that the ATVMLP will be doubled, but never say never, right?
As we learned yesterday, Ford's loan will be used to bring "13 more fuel efficient models" to market, including making better (read: cleaner) Focuses, Escapes, Tauruses and F-150s. Electric vehicles and EcoBoost technology are part of Ford's strategy. Ford will have to start paying the money back in 2012.
[Source: Automotive News (subs req'd)]