Let’s do the math, $750MM investment for 2500 employees at $45,000/year comes to $300,000 per job where MI pays for the first 6 years of salary.
Targeting a lofty 400,000 batteries per year (and we sell nothing close to this volume) Ford will be bankrupt long before any return seen.
This does not include Ford’s $3.5B investment.
Anyone else hear a flushing sound in Dearborn?
There will also be Federal subsidies for the Ford Motor's plant as well as a subsidy for the electric vehicles the batteries will be used in under the Inflation Reduction Act. The costs of these subsidies will be born by the most vulnerable in the US, and the electric vehicles produced will fan the vanity of idle rich. The jobs created by electrification are much fewer than the jobs that are lost, and in the end the jobs will be in China (like solar panels). The cynicism of picking the pockets of low-wage Americans to create the slave labor in China that they must compete with is shows the vapid reality of America's elite.
We should not pay.
We should tell for go to Mexico and get some American companies instead.
If I ever buy another Ford (have NO plan to, ever) I would be asking for the “Michigan Taxpayer Discount.”
Guess my Gretchen and Bill post hit a little too close to home! Got nuked. LOL
The censors sure do support Ford.....
Scam-Artists all the good old boys and old money all with their hands in the taxpayers pockets. And the sad part is it isn’t even US intellectual property, all of that is in Silicon Valley and Austin and definitely not @ Ford. Ford relies on suppliers, doesn’t have its own IP anymore.
Taxpayers should not have any involvement with this BS. Its all a scam to funnel money period.