by Zach Jewell
The Daily Wire
Ford will receive the largest government check for an automaker since the 2009 bailouts thanks to a $9.2 billion loan intended to help construct three electric vehicle battery plants in the U.S.
The loan from the Biden administration is aimed at boosting U.S. automakers in their race against China for green technologies and helping the auto industry reach Biden’s bold goal of electrifying 67% of all commercial passenger vehicles sold in the U.S. by 2032, Bloomberg reported. Ford is partnering with South Korean battery company SK On Co. in a venture called BlueOval to build three battery plants in Tennessee and Kentucky…
The multi-billion-dollar loan met criticism from some who are troubled by the federal government’s interference with the free market to promote EVs. Steven Milloy, a lawyer and senior policy fellow with the Energy & Environment Legal Institute who served on former President Donald Trump’s transition team, wondered why the EV sector needed so much help from the government.
“If EVs are so great why does Ford and its South Korean partner need a $9.2 billion loan from taxpayers to build battery plants?” Milloy tweeted. “Why doesn’t the ESG cartel finance them?”
