Reports surfacing that Ford, Nissan to tap U.S. factory retool loans
The Energy Department is beginning to lend money from a $25 billion loan program to develop fuel-efficient cars. Ford Motor Company, Nissan Motor Company and Tesla Motors are slated to get the first round of loans. U.S. Energy Secretary Steven Chu is planning an announcement today in Michigan, the paper said, citing government officials familiar with the matter to help auto makers retool factories for advanced-technology vehicles, the Wall Street... [Read More...]
State of the US Auto Industry
The US auto industry is in a very sad state of affairs and no amount of US taxpayer’s money can solve the years of misguided leadership! Maybe one day in the immediate future there won’t even be a US auto industry! Think that statement is farfetched? Where then is the US manufactured television industry? Or for that matter, many other inventions otherwise created in the USA but are no longer made there? There will probably always be cars manufactured... [Read More...]