According to the New York Times, Ford Motor and its battery manufacturing partner will receive a $9.2 billion loan to build three battery factories in Kentucky and Tennessee from the Department of Energy.
- How many people will be employed?
- What is the Biden Administration goal for electric cars?
- How should the loan be recorded in the financial statements?
- What industry does Ford expect the newly employed people to transition from?
- When or if will you get an electric vehicle? Discuss.
Ewing, J. and C. Krauss (2023). Ford’s Battery Joint Venture to Get $9.2 Billion Government Loan, The New York Times, June 23 (Retrievable online at https://www.nytimes.com/2023/06/22/business/energy-environment/ford-battery-plants-loan.html)