The Department of Energy announced that Ford would received $5.5 billion in loans meant to modify factories to make more fuel efficient vehicles. In my opinion, most government driven attempts at industrial policy are destined to fail, but in the context of the immense government bailouts for General Motors and Chrysler, I suppose that a mere $5.5 billion is a mere rounding error. Let’s take a look at Mr. Mulally’s comments today on CNBC.
In late May, I posted an interview with Ford Motor Company’s Chairman Bill Ford regarding the company’s plans for battery technology. CNBC interviewed Ford’s CEO Alan Mulally today. Topics covered include Ford’s product lineup, plans for hybrid vehicles, the impact of the GM and Chrysler bankruptcies, the health of auto suppliers (recently turned away in their requests for additional Federal bailout funds), the “cash for clunkers” plan, and more.
I found an interesting video interview with Bill Ford that is applicable to recent articles on this site regarding electric vehicle technologies. Ever since Berkshire Hathaway announced its investment in BYD, I have tried to follow developments in the industry. BYD’s new e6 electric car appears to be a breakthrough in terms of performance and range. Since I posted a number of videos of BYD’s founder Wang Chuanfu, it seems appropriate to post Bill Ford’s view of the industry as well which appears in the video in this article.