Will UAW Strike?

   / Will UAW Strike? #72  
   / Will UAW Strike? #73  
I'm not sure Ford has paid off the $5.9B DOE loan from 2009 yet.
 
   / Will UAW Strike? #74  
ruffdog said:
I'm not sure Ford has paid off the $5.9B DOE loan from 2009 yet.
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DOE in 2009?

I thought they passed on troubled asset releif program (TARP). Are you confusing them for GM and Chrysler? Or was there another DOE loan that I'm not aware of?
 
   / Will UAW Strike? #75  
Snobdds said:
This is super risky for Ford.

EV's are not selling for Ford. If they take the loan and can't repay it...I don't think they have enough reserves to take that charge off. Then it's game over.

EV's are going to bankrupt some long term companies due to unmaterialized hype.
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Virtue signaling has never helped a company maintain long term profits!
Its all a facade.
 
   / Will UAW Strike? #76  
Snobdds said:
DOE in 2009?

I thought they passed on troubled asset releif program (TARP). Are you confusing them for GM and Chrysler? Or was there another DOE loan that I'm not aware of?
Click to expand...
Nope, not confused. If I remember right, the $5.9B loan was to be paid off by 2025. I see it was paid off in June of 2022....DOE site:

FORD
 
   / Will UAW Strike? #77  
Well it was another DOE loan I was not aware of.

It took 13 years to pay off 5.9B. At the same payback rate, it will take Ford 19 years to pay back 9B. A lot can happen in 19 years...

I learned something today...
 
   / Will UAW Strike?
  • Thread Starter
#79  
The loan originates from the DOE’s Advanced Technology Vehicles Manufacturing (AVTM) program, which famously helped put Tesla on the map and more recently provided a boost for a joint venture of General Motors and LG Energy Solution to help fund the construction of a new lithium-ion battery manufacturing facility. Another recent recipient was Redwood Materials, the electric vehicle battery recycling and manufacturing venture founded by the former chief technologist at Tesla.
The loans are part of a broader effort by the ***** administration to boost EV manufacturing as it races to catch up with China, which controls around three-quarters of battery production globally. It’s also an important piece of the White House’s plan to promote clean energy amid the deepening climate crisis.
 
   / Will UAW Strike? #80  
Snobdds said:
Well it was another DOE loan I was not aware of.

It took 13 years to pay off 5.9B. At the same payback rate, it will take Ford 19 years to pay back 9B. A lot can happen in 19 years...

I learned something today...
Click to expand...
Ford had a good marketing program, about how they didn't take TARP funds, but didn't tell the whole story. Around the time in 2008 that TARP came around, Ford asked Congress to approve a $9 billion line of credit. While Ford did not take TARP funds, they did to leave the option open to receive help. And they took out the DOE $5.9 billion loan in 2009 from another government bucket, which was repaid in 2022. Chrysler repaid their TARP loans in 2011. The Government sold their last shares of GM in 2013. Also, many other companies took some of the $700 billion in TARP funds which you didn't hear about, the banking industry being the largest.


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www.reuters.com

Ford seeks $9 billion line, aims to break even in 2011

Ford Motor Co <F.N> on Tuesday asked Congress for up to $9 billion in a government credit line to support its restructuring, saying it expects to break even or be profitable in 2011.
www.reuters.com www.reuters.com
 
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