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Ford Receives $55M Incentive from State of Michigan for Battery and EV Work

Ford Motor Company has received a $55 million incentive from the Michigan Economic Development Corporation (MEDC) for its work in advanced battery and electrical vehicle development. Ford will receive refundable tax credits through the new Michigan Advanced Battery Credits initiative.

The first of its kind in the country, the law provides refundable tax credits to encourage companies to invest in electric vehicle engineering and advanced automotive battery research in Michigan.

Approved by the Michigan Economic Growth Authority, the incentive will be used to accelerate Ford’s plans to produce next-generation hybrids, plug-in hybrid electric vehicles and battery electric vehicles.

Ford recently announced an aggressive electrification strategy to bring four new vehicles to market. Ford’s electrification strategy involves three types of electrified vehicles—battery electric vehicles, hybrid electric vehicles and plug-in hybrid electric vehicles. (Earlier post.)



If Ford keeps staying above the bail out level, it makes perfect sense for state and federal government organizations to support the company. Why bail out losers like GM and Chrysler, when you can just focus on funding projects that make a difference to improve the US autos, instead of allowing failure to continue. Hundreds of jobs are being lost, not just because US autos is declining. It is because no new jobs are forming and no one is hiring because of the decline in credit market.

If you had 3 credit cards, but only use 1 regularly, it wouldn't be so detrimental to keep the other 2 credit cards would it? Use the same analogy and extrapolate on corps and co.'s. If credit market continues to decline, there isn't a pressing need to get a credit loan when you can just cut another 20,000 jobs to cover the operational costs.

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