US Energy Secretary Chu Announces Finalized $5.9 Billion Loan for Ford Motor Company
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on 16 Sep, 2009 in
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Secretary Steven Chu announced that the Department of Energy has closed on its loan offer of $5.9 billion to Ford Motor Company to transform factories across IL, KY, MI, MO, and OH to produce more fuel efficient models. The loan is part of the Department's Advanced Technology Vehicles Manufacturing program, which supports the development of innovative, advanced vehicle technologies to create thousands of clean energy jobs while helping reduce the nation's dangerous dependence on foreign oil.
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