PROJECT SUMMARY
In September 2009, the Department of Energy issued a $5.9 billion loan to the Ford Motor Company to upgrade 13 facilities in Illinois, Kentucky, Michigan, Missouri, New York, and Ohio. The resulting state-of-the-art assembly and manufacturing plants have the enhanced flexibility of producing multiple-platform, fuel-efficient advanced technology vehicles in response to changing market demands and fuel efficiency standards.
TECHNOLOGY INNOVATION
Ford updated several factories to continue improving fuel efficiency in more than a dozen popular vehicles, including the Escape, Fiesta, Focus, Fusion, and Taurus car models, as well as the F-150 light-duty truck. The innovations include the family of Ford EcoBoost™ engines, which are available in almost all models, and introductions of new hybrid, plug-in hybrid, and all-electric plug-in vehicles.
ECONOMIC IMPACT
Ford created and preserved more than 33,000 jobs at its ATVM-supported facilities. More than 6,000,000 Ford vehicles resulting from this loan have been registered in the United States from Model Year 2009 through Model Year 2013.
CLIMATE BENEFIT
Ford has manufactured vehicles at ATVM-supported facilities that are expected to save 268,000,000 gallons of gasoline and prevent 2,380,000 metric tons of carbon dioxide emissions each year.
|
PROJECT SUMMARY |
Owner |
Ford Motor Company |
|---|---|---|
| Locations |
Illinois (Chicago), Kentucky (Louisville), Michigan (Dearborn, Flat Rock, Livonia, Sterling Heights, Wayne, Ypsilanti), Missouri (Claycomo), New York (Buffalo), Ohio (Brook Park, Cincinnati, Lima) |
|
|
FINANCIAL SUMMARY |
Loan Program |
ATVM |
|
Loan Type |
Direct Loan |
|
|
Loan Amount 1 |
$5.9 Billion |
|
|
Issuance Date |
September 2009 |
|
|
ECONOMIC IMPACT |
Permanent U.S. Jobs Supported |
33,000 |
|
CLIMATE BENEFIT |
Gallons Of Gasoline Saved Annually |
268,000,000 |
|
CO2 Emissions Prevented Annually |
2,380,000 Metric Tons |
|
| NOTES |
Loan fully repaid in June 2022. All information up-to-date as of June2022 and will not be further updated. 1 Approximate amount of the loan facility approved at closing including principal and any capitalized interest. |
|
PROJECT PHOTOS
