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Ford Gets $55 Million Tax Incentive For Electric Development


2010 Ford Fusion

2010 Ford Fusion

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Today Ford announced it is the recipient of a $55 Million tax incentive - a refundable tax credit - from the state of Michigan. The money will be channeled through the newly formed Michigan Advanced Battery Credits initiative, with the stipulation that Ford use it to continue development of advanced batteries and electric vehicles.

The Michigan Advanced Battery Credits Initiative is an offshoot of the Michigan Economic Development Corp., and could provide refundable tax credits to other companies who invest similarly in electric vehicle/battery programs.

This is another (eco)boost for Ford, who just announced that their new UAW deal will not include any Federal money to support its operations through 2009. The blue oval looks quite forward-thinking these days, having just released the award-winning 2010 Ford Fusion Hybrid and poised to install a whole new generation of fuel-sipping engines across their car and crossover lineup.

[source: Free Press]

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  1. "Ford Thanks to Go Around"

    Other than the UAW, Ford needs to thank Mazda for providing some good small car platforms (3 and 6), Volvo for providing a good large car platform (S80), the blue hairs and gray beards for continuing to purchase relics like the Town Car, and Toyota for providing Hybrid Synergy Drive technology for the Fusion, Escape and its cousins. Now all that they need to do is to get those Euro Fords (i.e., Fiesta and Focus)here asap along with their fuel sipping turbodiesel engines. I hope that it can still hold onto a piece of Volvo when it spins it off to the Swedes.
     
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