Washington, DC - Congressman John D. Dingell (D-MI15) made the following remarks today on Energy Secretary Steven Chu’s announcement regarding the first release of loans through the Advanced Technology Vehicle Manufacturing Loan Program.  The Secretary was in Dearborn, Michigan, this morning announcing that Ford would receive $5.9 billion to transform factories in several states, including Michigan’s Dearborn Engine and Dearborn Assembly plants, to produce 13 more fuel efficient models.  Also receiving loans: Nissan North American, Inc. will get $1.6 billion to retool their Smyrna, Tennessee, facility, and Tesla will get $465 million to manufacture electric drive trains and electric vehicles in California.  In all, the government made approximately $8 billion in loans available.

“Secretary Chu’s announcement could not come at a more opportune time, particularly for Ford.   As automakers struggle to cope with the effects of the ongoing recession, this loan reflects the Administration’s praiseworthy dedication to ensuring the vehicles and technologies of the future are manufactured in the United States.  With this money, Ford will be able to continue its work on quality vehicles, such as the Fusion Hybrid and Fiesta, which offer consumers fuel savings and reduce our country’s dependence on foreign oil.  Importantly, Ford’s loan will aid in creating new green jobs in Michigan, something of which our State is dire need.”

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