The automaker said it would delay new battery-powered models and shift its focus to hybrid cars, sales of which are rising fast.
The money will help finance three plants the automaker and its partner, SK On, are building in Kentucky and Tennessee.
The loan will help the automaker and its supplier build electric vehicle battery factories in Ohio, Tennessee and Michigan.
Ford’s plans for multi-billion dollar manufacturing sites for electric vehicles has Tennessee and Kentucky singing a different tune on cleaner energy.
The automaker and a supplier will spend $11.4 billion on three battery factories and a truck plant, creating 11,000 jobs.
Today, battery-electric cars are built in volume at only three locations across the entire United States. Tesla builds its three different electric models in Fremont, California; the new 2018 Nissan Leaf has just gone into production in Smyrna, Tennessee; and the Chevrolet Bolt EV is built at the Orion Assembly Plant in Michigan. Ford also builds...
The 2018 Nissan Leaf electric car will start to appear at Nissan dealers in January, the company said Monday. That availability came in an announcement that the second-generation electric car officially went into production the same day at Nissan's sprawling assembly plant in Smyrna, Tennessee. It's one of three locations globally that will build...
As it works toward moving past its diesel-emissions scandal, the Volkswagen Group is making ambitious plans for electric cars. By 2025, the company hopes to be selling 1 million electric cars per year, and it has said it will launch 30 different electric models across multiple brands in the coming years. Now VW says some of those cars may be built...