On August 26, 2009
Ford’s Uses Federal Money to Accelerate Electric Car Plans
Ford was the biggest winner back in June when the Department of Energy announced the first round of its $25 billion loan program for electric vehicles and battery manufacture. The company was funded with $5.9 billion through 2011 to improve the fuel efficiency of a dozen popular vehicles—from the Taurus to the F-150 truck. Ford is also the recipient this month of two grants from the DOE’s complementary $2.4 billion grant program. Mike Tinskey, manager of sustainability and electrification, said in an interview that it will be using part of that money, $62.7 million (matched by Ford), to transfer production of a key electric transaxle—the heart of both battery cars and plug-in hybrids—from Japan (where it is made currently by…
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