It’s been 3 years due to the fact that General Motors and also Chrysler filed for bankruptcy, but with the political season in full swing, the 2 presidential candidates have actually put the auto industry bailouts back in the public eye, at the very least through the November election. However there’s only one Detroit automaker tho in hock to U.S. Taxpayers and – assumption: v what? – it’s no GM or Chrysler.

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Ford Motor fan the government $5.9 billion it obtained in June 2009, the very same month GM filed for bankruptcy. By Sept. 15, Ford demands to start paying that money back. In a federal government filing, the carmaker claimed $577 million is due in ~ the next year, and also the full amount need to be paid turn off by June 15, 2022.

The Obama Administration, dreaming of a million electrical cars top top the road by 2015, lend Ford the money to assist it salary for advancement of hybrids and also EVs, and to retool its factory to produce smaller, cleaner vehicles. When not defined as a “bailout” by any kind of means, stop be honest: Ford’s loan – received at a vital time once other resources of gaue won weren’t easily accessible to automakers or their companies – no doubt assisted the carmaker make it through the industry crisis and also contributed come its solid market place today, specifically after the Obama management finalized tougher fuel economy rules this week.


Indeed, lest we forget: the feds in 2009 were handing the end fistfuls of cash come bolster the auto industry, past the $64 billion provided to bail the end GM and Chrysler. Treasury staked another $18.7 billion on rescuing the companies’ auto loan affiliates (it still owns 74% that Ally, previously known together GMAC). And also the energy Department doled the end billions much more to Ford and others to preserve auto-making jobs in the U.S. While steering the industry toward cleaner vehicles.

“We have actually an historical opportunity to aid ensure that the following generation of fuel-efficient cars and also trucks are made in America,” chairman Barack Obama said in a explain on June 23, 2009 announcing the loan to Ford and two others. Power Secretary Steven Chu added: "By supporting key technologies and sound organization plans, we can jumpstart the production of fuel efficient vehicles in America. This investments will come ago to ours country plenty of times end – by creating brand-new jobs, to reduce our dependency on oil, and reducing our greenhouse gas emissions."

No firm was a larger beneficiary the the DOE’s green car funding initiative than Ford. It obtained two-thirds of the $8.8 billion loaned under the department’s Advanced modern technology Vehicle manufacturing program. Conference appropriated $25 billion because that that regimen in so late 2008, throughout the waning job of the bush Administration, approximately the exact same time the auto agency CEOs were gaining grilled top top Capitol Hill.


The other ATVM recipients were Nissan ($1.6 billion), Tesla motors ($465 million), Fisker Automotive ($529 million) and the vehicle Production group ($50 million), a start-up agency promoting a handicapped-accessible van the runs on natural gas.

The DOE spent one more $2.4 exchange rate in federal stimulus money – many of that in Michigan – to administer matching sponsor to aid companies build manufacturing framework for progressed batteries and EV components. Uneven the ATVM loan program, those sponsor don’t have to be payment back.

So just how did all the government help for the auto sector work out? The outcomes are mixed, in ~ best. Chrysler, despite its long odds, is doing surprisingly well under Fiat ownership. Successful turnarounds at GM and Ford in the U.S. Room weighed down by difficulties in Europe.

But automobile buyers, it seems, weren’t almost as excited about electric vehicles as President Obama, who has since backed turn off his 2015 EV target. Most of the government-backed battery factories space operating well below their manufacturing capacity. Many recipients have shifted their emphasis away from electrical vehicles toward grid warehouse opportunities. At least three recipients that federal funding collapsed or room struggling to stay afloat. Battery-maker A123 Systems, desperate because that money, fell into the hand of a Chinese auto supplier. Another, Ener1, walk bankrupt and is now owned through a Russian service tycoon.

If you’re maintaining score (and you have to be) this is a synopsis of exactly how some the the government’s biggest auto market investments turned out:

GM: repaid $23.1 exchange rate of the $49.5 billion it acquired from the U.S. Treasury, including every one of its superior loans. But Treasury still owns 500 million shares, or 32%, the GM stock. Come recoup its complete investment, GM stock requirements to fight $52.80 every share. It’s at this time trading approximately $21. GM additionally received a $106 million corresponding grant to build a battery factory in Brownstown, MI, whereby it is assembling battery packs because that the Chevrolet Volt plug-in car using cells imported indigenous Korea.

Chrysler: repaid $9.2 billion, fulfilling that is debt duties to the U.S. And also Canadian governments, and also is now owned through Italian automaker Fiat (58.5%) and also a health care trust because that UAW retirees (41.5%). Overall, taxpayers shed $1.3 billion on the Chrysler bailout. In full recovery mode, Chrysler is at this time the fastest-growing carmaker in the world.

Ford: supplied its $5.9 billion loan to convert two van plants to small-car production and to develop an ext fuel-efficient vehicles choose the Ford focus EV and also C-Max Energi plug-in hybrid, on sale this fall. Loan repayments start in September. Ford claims it will spend $14 billion end the next seven year on advanced-technology vehicles.

Nissan: received a $1.4 exchange rate loan to build a battery plant and modify one existing car factory in Tennessee to create the electric Nissan leaf (currently imported indigenous Japan). Manufacturing of battery packs starts at the end of September; leaf production adheres to in December. Despite it has actually sold just 14,000 Leafs in the U.S. Since December 2010, the firm hasn’t backed turn off its U.S. Sales target that 150,000 Leafs every year. A spokesman claims Nissan will begin repaying its loan after ~ U.S. Production begins.

Tesla: used its $465 million loan to construct a battery plant and also retool component of a previous Toyota-GM factory to build the model S, its second electric car. So far, just 100 that the cars have actually been built, well shy that its 2012 goal of 5,000. However the firm says that on track. Loan repayments begin in December. Tesla, which go public in July 2010, really hopes to break even by 2013.

Fisker: received only $193 million that its $529 million DOE loan due to the fact that of to let go milestones. Its an initial plug-in hybrid, the $100,000 Karma constructed in Finland, suffered high quality problems. Its following model, the Nina, and a new factory in Delaware, room on organize while the company sorts the end its problems and also seeks alternate funding sources.

Vehicle production Group: supplied a $50 million DOE loan to include a compressed organic gas version of its MV-1 handicapped accessible van. Therefore far, 300 of the 2,100 vans created at a tree in Indiana operation on CNG. As fleet sales rise, the start-up firm expects at least half to be natural gas vehicles. VPG began repaying that loan so late last year.

Johnson Controls: the leading lead-acid battery machine for autos provided a $300 million DOE give to develop an advanced-battery cell plant in Michigan, and is shifting work right here from Europe. That predicted sluggish acceptance that EVs, and is instead supplying batteries for various other fuel-saving technologies, favor microhybrids, which close up door down as soon as the vehicle stops. The plan was because that 680 jobs at full capacity. Today, it has fewer 보다 100.

A123 Systems: drew $129 million the a $249 million DOE approve to build two battery tree in Michigan. But demand no materialize, bring about unused capacity. Meanwhile, A123 is replacing beforehand batteries that had actually quality issues. Its resulting financial distress attractive China’s Wangxiang Group, i beg your pardon agreed to invest up to $450 million because that an 80 percent stake in the company. A123, which employs 1200 human being in the U.S., says it will continue to manufacture batteries in America, concentrating on other sectors like network storage and hybrid buses and also trucks.

Dow Kokam: the share venture in between Dow Chemical, a korean battery an equipment and a French engineering agency used the $161 million DOE approve to develop an advanced-battery manufacturing facility in Michigan. That started production in June, with 120 employees. V EV demand slower 보다 expected, the is targeting various other customers like distribution fleets, the Defense Department and also tug watercraft operators.

LG Power: U.S. Subsidiary of korean battery device used that $151 million DOE grant to construct a battery plant in Michigan to supply cells for the Chevrolet Volt and others. However with demand lower than expected, the plant, which has 200 employees, there is no yet started production.

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EnerDel: attracted $55 million that its $118 million DOE grant to increase battery production in Indiana. An invest in Think, a Norwegian EV customer, turned sour, and also EnerDel’s publicly traded parent, Ener1, filed because that bankruptcy in January. Co-founder Boris Zingarevich, a Russian lumber tycoon v ties come the Russian government, took regulate by investing another $86 million. That collection off alarm bells in Washington since EnerDel’s battery are supplied in some military applications. After ~ exiting bankruptcy in March, EnerDel installed new management and also moved that headquarters come Indiana. It right now supplies battery packs because that the Volvo C30 electric automobile but is changing its emphasis to make batteries for mass transit, network storage and also industrial uses.