Ford agree to a $9.2 billion loan from USG

[ex-khobar Andy]

. . . according to CNN. It's to help them with plant for battery technology for EV cars and trucks. Without having read the details and despite my antipathy toward Ford (they have still never convincingly apologized for H Ford's enormous and influential and unabashed antiSemitism of the early 20th century) I am generally in favor of govt intervention to help desirable common goals.

With the anti socialism mob speak up please? Surely this sort of thing should just never happen!

[MajGenl.Meade]

The loan is part of Biden's plan to . . .

No it isn't - not exactly. It's more prompted by China's place as the single most important provider of batteries for electric vehicles. Two birds with one stone. (And you can have noodles or rice with that)

[Jarlaxle]

I wonder who quietly got paid off for this one.

[Scooter]

GM, Nissan, Tesla and some EV battery manufacturers have also received loans under the DOE's Advanced Technology Vehicles Manufacturing Loan Program, which was launched in 2007. Ford fully repaid a previous loan it received through the program. Did they ALL give payoffs in exchange for those loans?

[BoSoxGal]

This was discussed on Fahreed Zakaria’s program last week. He interviewed the head of Ford who informed that the US is not capable of keeping up with China in the EV market and needs to make serious inroads.