KANSAS CITY, Mo. – A $5.9 billion loan from the Department of Energy will help the Ford Claycomo plant be better able to provide fule-efficient cars, government officials announced Friday.
The loan, approved as part the of the DOE’s Advanced Technology Vehicles Manufacturing program, will also go to help plants in Illinois, Kentucky, Michigan and Ohio to build ‘greener’ cars.
“This investment is part of our commitment to creating the clean energy jobs of the future while supporting American innovation," US Energy Secretary Steven Chu said.
The announcement comes on the heels of President Barack Obama’s goal of having an average fuel economy of 35.5 miles per gallon by the year 2016, the Department of Energy said in a news release detailing the loan.
The loan proceeds will enable Ford to raise the fuel efficiency of more than a dozen popular models, representing close to two million new vehicles annually, and save more than 200 million gallons of gas a year.
"We can revitalize the American auto industry and at the same time reduce our dependence on oil and cut our carbon pollution,” Chu said.
The Department of Energy says it plans to make additional loans under the Advanced Technology Vehicles Manufacturing program over the next several months to large and small auto manufacturers and parts suppliers up and down the production chain.
