Last week, U.S. Department of Energy Secretary Steven Chu announced that Ford has been approved for the Advanced Technology Vehicles Manufacturing Incentive Program. These are the loans that Congress authorized in conjunction with the 2007 Energy Independence and Security Act.
Seventy-five companies applied for these loans, and we all should be proud that Ford Motor Company is one of the first automakers deemed by the government to be among the best companies with the best technologies in American manufacturing and fuel efficiency.
This green partnership with the U.S. government will help us accelerate the development of advanced technologies for even better fuel-efficiency and emissions.
As you well know, we are absolutely committed to fuel economy leadership with every new model we introduce. In fact, we are investing nearly $14 billion in advanced technology vehicles in the next seven years alone in the U.S. Our partnership with the Department of Energy also will help retool our U.S. plants more quickly to produce fuel efficient vehicles and meet new, rigorous fuel-economy requirements.
An event announcing this news was conducted this morning at the Ford Research and Innovation Center in Dearborn. Coverage of the event will be available later today on @Ford Online (www.at.ford.com).
