Ford agrees to $9.2 billion US government loan

[North7]

EV batteries are expensive...

Ford agrees to $9.2 billion US government loan

New York CNN

Ford and its South Korean battery manufacturing partner SK On have agreed to a loan of $9.2 billion from the US Department of Energy as part of President Joe Biden’s push to bring more electric vehicle production to the United States.

Ford and SK’s joint venture, BlueOval SK, would use the funds to build three electric vehicle battery plants, two in Kentucky and one in Tennessee.

https://amp.cnn.com/cnn/2023/06/22/business/ford-department-of-energy-loan/index.html

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[BigFootie]

Think about how much better you feel though!

 

[TCB-1]

Or for 1/62,000th of that you could hire someone that could manage the Bronco scheduling/logistics a bit better.

‘tis a thought….

 

[ColoradoKid26]

Big swing, bigger miss.
EV's are a pipe dream.

 

[ATLBronco75]

Big swing, bigger miss.
EV's are a pipe dream.

Bruh, boom harder.

 

[j_marinelli]

In before thread locked by admin.

 

[North7]

Big swing, bigger miss.
EV's are a pipe dream.

 

[P52Ranch]

As a Lightning and Bronco owner and member of both forums. It’s a night and day difference in the reactions to this news.

As much as we all love the ICE freedom we currently have, EV’s are here to stay and I applaud Ford’s efforts to become a leader in EV’s.

If you haven’t experienced a Lightning You need to do it. The only complaint is range. But that only affects less than 1% of my use cases. It is superior to an ICE F150 in nearly all other aspects.

 

[North7]

As a Lightning and Bronco owner and member of both forums. It’s a night and day difference in the reactions to this news.

As much as we all love the ICE freedom we currently have, EV’s are here to stay and I applaud Ford’s efforts to become a leader in EV’s.

If you haven’t experienced a Lightning You need to do it. The only complaint is range. But that only affects less than 1% of my use cases. It is superior to an ICE F150 in nearly all other aspects.

I get it, many of us are just having a little fun. Remember when people called GM, Government Motors, for taking a bailout loan and Ford never did?

Kind of ironic that the shoe is on the other foot now.

 

[BroncoT]

My next vehicle will likely be an EV Bronco. My current Bronco will go in to storage where I will make it like new again, as a retired man (whenever that happens).

This plan makes me smile.

 

[Carolina Jim]

I can't help but remembering the late 80s & 90s when chip technology was advancing so rapidly that any PC you bought was obsolete before you got it home.

 

[P52Ranch]

I get it, many of us are just having a little fun. Remember when people called GM, Government Motors, for taking a bailout loan and Ford never did?

Kind of ironic that the shoe is on the other foot now.

It’s not like Ford is a loan virgin getting its cherry popped. It’s a loan to get EV battery manufacturing here in the US. It isn’t much different than the 5.9 billion loan Ford took out a few years ago under the same program. But it is different from the bailout loans that GM and Chrysler took to stay afloat.

I hope Ford is able to build plants that remain relevant as battery technology rapidly evolves.

 

[Razorbak86]

I get it, many of us are just having a little fun. Remember when people called GM, Government Motors, for taking a bailout loan and Ford never did?

Kind of ironic that the shoe is on the other foot now.

Dear CNN reader, it's not a bailout. Its a prudent financial choice to fund planned growth through debt instead of equity due to the lower cost of capital.

 

[North7]

It’s not like Ford is a loan virgin getting its cherry popped. It’s a loan to get EV battery manufacturing here in the US. It isn’t much different than the 5.9 billion loan Ford took out a few years ago under the same program. But it is different from the bailout loans that GM and Chrysler took to stay afloat.

I hope Ford is able to build plants that remain relevant as battery technology rapidly evolves.

Let's hope they can rapidly transition to the new solid state batteries when the time comes, is that on Ford's radar?

 

[SuperFord]

Remember when people called GM, Government Motors, for taking a bailout loan and Ford never did?

Kind of ironic that the shoe is on the other foot now.

Yeah, no. This is VERY different from a “bailout”.

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