Ford notes that their company has sufficient liquidity to survive the economic recession as long as it doesn’t last too long, but requests a $9 billion “stand-by” line of credit in case they need it. Ford’s plan focuses on plug-in hybrids and electric vehicles, not mentioning hybrids and only briefly mentioning biofuels (flex-fuel vehicles).
“The next major step in Ford’s plan is to increase over time the volume of electrified vehicles, as battery costs improve and as the transition from Hybrids to Plug-in Hybrids to Battery Electric Vehicles occurs.
Next month at the North American International Auto Show in Detroit, we will discuss in detail Ford’s accelerated vehicle electrification plan, which includes bringing to market by 2012 a family of hybrids, plug-in hybrids and battery electric vehicles. Our work will include partnering with battery and powertrain systems suppliers to deliver a full battery electric vehicle (BEV) in a van-type vehicle for commercial fleet use in 2010 and a BEV sedan in 2011. We will develop these vehicles in a manner that enables us to reduce costs and ultimately makes battery electric powered vehicles more affordable for consumers.”http://online.wsj.com/public/resources/d…
GM asks for an $18 billion term loan, including up to $10 billion by March ’09.
“GM will launch the ground-breaking Chevrolet Volt in 2010. As indicated in Table 8, GM is investing over $750 million in the Volt and its propulsion system, prototypes of which are currently on test at GM‘s Milford Proving Grounds. An extended-range electric vehicle, the Volt will deliver up to 40 miles on a single electric charge, well within the daily commute of approximately 80% of Americans.”
“General Motors will also continue to invest in hydrogen fuel cell technology”
“The Plan includes further increases in flex-fuel and hybrid-equipped vehicles. In 2012, over 50% of GM‘s new vehicle sales will be flex-fuel capable. Regarding hybrids, GM offers six models today – more than any other manufacturer – and will introduce the VUE Two-Mode hybrid, along with the Silverado and Sierra hybrids in 2009. By 2012, GM will offer 15 hybrid models.”http://gmfactsandfiction.com/wp-content/…http://climateprogress.org/2008/12/02/ba…
What do you think of these plans, and whose bailout plan do you prefer?
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Do You Think Ford Or Gm’s Bailout Plan Is Better?2 comments to Do You Think Ford Or Gm’s Bailout Plan Is Better?Leave a Reply |
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I think the auto industry leaders of these united states are idiots-less than that. Why allow them room to destroy the taxpayer further? These idiots are the laughing stock of the world! Have you any common sense left? Are you an american *** with no morality? Get your *** out of the fire and stand up for what this country was founded on. If you wont-many around you will! Stand-up or wither-this is the choice.
in my opinion they are both rubbish…
if i wanted a loan on a business plan that resolved around the market recovering and emerging technology becoming more affordable the bankers would laugh me out of their bank….
but we accept this from a car company because they are big?
the car companies have been in trouble for the last decade… although they are blaming the current economic meltdown.. that is simply an alibi.. not the root cause of the problem