US govt to dole out billions in green car loans
China Daily | Updated: 2009-06-25 07:52
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Alan Mulally, chief executive officer of Ford Motor Co, left, pumps his fist toward Steven Chu, secretary of the US Department of Energy, center, as Jennifer Granholm, governor of Michigan, right, looks on during a news conference at the Ford Research and Innovation Center in Dearborn, Michigan. Ford Motor Co, the only US automaker not receiving emergency federal loans, will get $5.9 billion in government financing to speed work on cars with better fuel economy. Bloomberg News |
DEARBORN, Michigan: Ford Motor Co will receive nearly $5.9 billion in US government loans to build fuel-efficient vehicles as the Obama administration deepened its commitment to reshaping the cash-strapped auto industry.
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