The initiative would also promote the construction of charging stations and include financial incentives for consumers and carmakers.
The president wants half of the vehicles sold in the United States to be electric by 2030, hoping to phase out gasoline-powered engines that contribute to climate change.
Ford has had to halt or slow production of highly profitable models like the F-150 pickup truck and various sport-utility vehicles.
The electric car company made $1 billion in the second quarter as its revenue roughly doubled from the same period a year earlier.
The deal would provide badly needed cash to a company that said this summer that it could go out of business without raising more money.
The auto giant bet on hydrogen power, but as the world moves toward electric, the company is fighting climate regulations in an apparent effort to buy time.
The automaker has told owners of the 51,000 vehicles, from the 2017 to 2019 model years, to take precautions until defects are remedied.
The automaker has told owners of the 51,000 vehicles, from the 2017 to 2019 model years, to take precautions until defects are remedied.
Two new books, Eric Berger’s “Liftoff” and Tim Higgins’s “Power Play,” explore Musk’s terrestrial and extraterrestrial pursuits — and what has made him so successful.
Elon Musk wanted to tap German engineering expertise, but may have gotten more local culture than he had bargained for.