Factbox: No bailout, but Ford sees government benefits
NEW YORK (Reuters) - Ford Motor Co has reaped a consumer, political and market bounce from not taking a U.S. government bailout to help restructure in 2009, unlike rivals General Motors Co and Chrysler.
The healthiest U.S. automaker, however, has received direct and indirect financial assistance through loans, capital, tax credits and other programs that have aided its strong turnaround.
The following are federal assistance programs that have or will help Ford and other automakers.
* The Export-Import Bank on Thursday announced a $250 million working capital loan guarantee for Ford. The loan facility will finance $3.1 billion of export sales for over 200,000 vehicles being sold to buyers in Canada and Mexico. These exports represent 15 percent of Ford's 2009 production. The loan, fees and interest will be paid off in one year.
* Ford is eligible for share of $2.3 billion in clean energy manufacturing tax credits. Ford offers gasoline/electric hybrid vehicles and plans to roll out a plug-in electric car in 2012.
* Ford received approval for $5.9 billion in Energy Department loans to transform factories in five states to produce more fuel-efficient vehicles. Roughly $400 million of that money was spent on retooling the Chicago plant visited by President Barack Obama on Thursday.
* Ford received a $62 million grant from economic stimulus funds for a program aimed at accelerating manufacturing and deployment of next-generation battery technology for electric vehicles.
* Ford Motor Credit, the automaker's financing arm, benefited from the now-expired Federal Reserve Term Asset-Backed Securities Loan Facility, which helped unfreeze credit markets. The asset-backed market is an important way for automakers to raise funds and help consumers obtain loans.
* Ford also benefited from $5 billion bailout of the supply network, which is closely interconnected with all the Detroit car manufacturers. A supply network disruption would have hurt Ford.
* Ford buyers would qualify for a $7,500 federal tax credit for purchases of plug-in vehicles if the manufacturer brings an electric car to market.
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