Ford Gets $9.2 Billion to Help US Catch Up With China’s EV "Dominance"

[1srelluc]

Ford Gets $9.2 Billion to Help US Catch Up With China’s EV Dominance

It’s one of the biggest loans to a US carmaker in more than a decade – and a watershed moment in Biden’s $400 billion plan to go all in on green technologies.

www.bloomberg.com

A deep-pocketed US government program designed to finance futuristic energy businesses is issuing a conditional $9.2 billion loan to Ford Motor Co. for the construction of three battery factories. The enormous loan — by far the biggest government backing for a US automaker since the bailouts in the 2009 financial crisis — marks a watershed moment for President Joe Biden’s aggressive industrial policy meant to help American manufacturers catch up to China in green technologies.

Loans designed to help "compete" with a fake goliath, over nonexistent climate bullshit.....Can anyone say money laundering?

 

[pknopp]

owned by the Michigan automaker and South Korean battery giant SK On Co.

 

[shockedcanadian]

Ford Gets $9.2 Billion to Help US Catch Up With China’s EV Dominance

It’s one of the biggest loans to a US carmaker in more than a decade – and a watershed moment in Biden’s $400 billion plan to go all in on green technologies.

www.bloomberg.com

A deep-pocketed US government program designed to finance futuristic energy businesses is issuing a conditional $9.2 billion loan to Ford Motor Co. for the construction of three battery factories. The enormous loan — by far the biggest government backing for a US automaker since the bailouts in the 2009 financial crisis — marks a watershed moment for President Joe Biden’s aggressive industrial policy meant to help American manufacturers catch up to China in green technologies.

Loans designed to help "compete" with a fake goliath, over nonexistent climate bullshit.....Can anyone say money laundering?

We are racing to the bottom.

However, I noticed that this is a loan. Canada just gave TWO $13B+ GRANTS. For two factories, approx 2300 jobs per factory, both foreign companies. WOW.

America STOP driving this race to the bottom. This is NOT capitalism.

 

[1srelluc]

Between that and the 2.6 billion rounding error the pentagon "found" to send to Ukeland we could have us a brand spanking new wall on our southern border.

Priorities right?

 

[EMH]

The cost of this moron having all truth tellers on ignore - he doesn't find yesterday's topic...

The GOP House needs to shut off the Biden Administration's $9 billion "loan" to Ford for electric vehicles

This stuff needs to stop. Right now... https://www.breitbart.com/economy/2023/06/22/biden-administration-loaning-ford-9-billion-for-electric-vehicle-plants/ The truth is that demand for electric vehicles and customer satisfaction are pointing down. Truth is the electric vehicle is not...

www.usmessageboard.com

ALREADY POSTED YESTERDAY...

 

[merrill]

QUIT CORPORATE WELFARE !!!!!!!!!! NOW!

 

[odanny]

Loans designed to help "compete" with a fake goliath, over nonexistent climate bullshit.....Can anyone say money laundering?

Keep telling yourself that while China leaps farther ahead.

 

[odanny]

We are racing to the bottom.

However, I noticed that this is a loan. Canada just gave TWO $13B+ GRANTS. For two factories, approx 2300 jobs per factory, both foreign companies. WOW.

America STOP driving this race to the bottom. This is NOT capitalism.

You got it ass backwards. A race to the bottom is doing nothing.

 

[Flash]

It is all about keeping UAW workers employed doing stupid environmental wacko work. The UAW that is one of the filthy Democrat's main cash cows.

 

[Votto]

We are racing to the bottom.

However, I noticed that this is a loan. Canada just gave TWO $13B+ GRANTS. For two factories, approx 2300 jobs per factory, both foreign companies. WOW.

America STOP driving this race to the bottom. This is NOT capitalism.

There is no bottom.............................

 

[shockedcanadian]

You got it ass backwards. A race to the bottom is doing nothing.

Loans are far more acceptable than grants. Especially if it is a domestic based company. However, we all know how this will end up, the won't pay it back. Much wiser to bring jobs back on sore, increace tax revenue and compete the old fashioned way.

 

[odanny]

Loans are far more acceptable than grants. Especially if it is a domestic based company. However, we all know how this will end up, the won't pay it back. Much wiser to bring jobs back on sore, increace tax revenue and compete the old fashioned way.

Not true. They will pay it back. This is exactly the kind of cooperation that this country needs, do you realize how much the government of China invests in its corporations? So loaning money for technological advancement is absolutely in our best interest. In China by doing this they enable them to develop new technologies, and China is rapidly closing the technology gap with this country and by also by stealing our technology, which we make easy by hiring Chinese nationals.

The thought of an American working in a highly technical position in China is laughable.

 

[shockedcanadian]

Not true. They will pay it back. This is exactly the kind of cooperation that this country needs, do you realize how much the government of China invests in its corporations? So loaning money for technological advancement is absolutely in our best interest. In China by doing this they enable them to develop new technologies, and China is rapidly closing the technology gap with this country and by also by stealing our technology, which we make easy by hiring Chinese nationals.

The thought of an American working in a highly technical position in China is laughable.

The Cinese system should not be the prototype. There is a reason they stole, and foolish, sad Western CEOs handed over their IP. The Free Market of ideas is superior as loing as civil liberties reigns (which is were canada falis). Better to give hungry, smaller corps take breaks for R&D rather than massive, often inefficient, lazy poorly run legacy behemeths. If it is a secured loan with assets on the line and approved by shareholder boards, ok. Taxpayers shouldn't be funding their adventures IMO. Ontario taxpayers burned hundreds of billions for solar panel rackets that all disappeared and not ONE politiician went to prison. Disgusting.

 

[odanny]

Better to give hungry, smaller corps take breaks for R&D rather than massive, often inefficient, lazy poorly run legacy behemeths.

Those with the engineering experience and facilities to develop new technologies, a "legacy behemoth" like Ford is EXACTLY who should be given the loans for R&D, you don't loan billions to a start-up unless you're Amazon!

 

[whitehall]

Does Ford really need taxpayer money to import products to produce E.V.'s that nobody is buying?

 

[whitehall]

Wouldn't it be ironic if Ford used U.S. taxpayer funds to enrich China by purchasing elements crucial to the manufacture of E.V.'s?

 

[Resnic]

Does Ford really need taxpayer money to import products to produce E.V.'s that nobody is buying?

That sounds better than calling it a bailout. Which is what it really is.

Well, a bailout and payoffs. The government only transfers money in leaky buckets.

 

[odanny]

Wouldn't it be ironic if Ford used U.S. taxpayer funds to enrich China by purchasing elements crucial to the manufacture of E.V.'s?

The whole point of Build Back Better is to lessen dependence on China for lithium and other raw materials and rare earths, as well as increase domestic production. This, of course, is deeply upsetting to Republicans, for reasons known only to them.

Not going down that rabbit hole.

 

[Captain Caveman]

Ford Gets $9.2 Billion to Help US Catch Up With China’s EV Dominance

It’s one of the biggest loans to a US carmaker in more than a decade – and a watershed moment in Biden’s $400 billion plan to go all in on green technologies.

www.bloomberg.com

A deep-pocketed US government program designed to finance futuristic energy businesses is issuing a conditional $9.2 billion loan to Ford Motor Co. for the construction of three battery factories. The enormous loan — by far the biggest government backing for a US automaker since the bailouts in the 2009 financial crisis — marks a watershed moment for President Joe Biden’s aggressive industrial policy meant to help American manufacturers catch up to China in green technologies.

Loans designed to help "compete" with a fake goliath, over nonexistent climate bullshit.....Can anyone say money laundering?

Three battery factories nationalised.

 

[1srelluc]

All this is part of the social engineering plan of the leftists.

Just wait, .gov money always comes with strings attached, most especially if the money is coming from the dem leftists themselves.

In Ford's case (at a minimum) it will come with union and DIE requirements/cut-outs. I suspect a full 20% will go right back into DNC coffers through union donations and whatever diversity hires that they will have to make.

I'm sure Ford will also cut the DNC and dem PACs a very healthy check.

What, did you really think they were going to sell enough ICE PUs to make-up for the EV boondoggle?