2009
06.23

hybrid

Just a quick word for those still following the trials and tribs of the domestic auto industry. Although Ford has stayed out of the bankruptcy proceedings that have toppled the likes of Chrysler and GM, the Alan Mulally-run company is still seeking some government aid. A source has cited that Ford will receive funds from the $25 billion dollar federal loan program that was approved by Congress last year as an incentive for automakers to crank out more fuel efficient cars. According to the article, Ford will seek nearly $6 billion from the program for 2011. Nissan and Tesla will get about $1.6 billion for some Tennessee retooling and a battery plant and Tesla will receive $465 million for the Model S factory right here in Southern California. The formal announcement will come tomorrow from Energy Secretary Steven Chu. [Source: AP]

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