Dearborn, Michigan – Ford Motor Company has received a US$55 million incentive for advanced battery and electrical vehicle development. The automaker will receive refundable tax credits from the Michigan Economic Development Corporation (MEDC) through the new Michigan Advanced Battery Credits initiative. The announcement was made by Michigan governor Jennifer Granholm.
The first of its kind in the country, the law provides refundable tax credits to encourage companies to invest in electric vehicle engineering and advanced automotive battery research in Michigan. The incentive will be used to accelerate Ford’s plans to produce next-generation hybrids, plug-in hybrid electric vehicles, and battery electric vehicles.
“These promising technologies give us the opportunity to transform our transportation and energy future,” said Nancy Gioia, director of Ford’s sustainable mobility technologies and hybrid vehicle programs. “Government support is essential to achieving the potential for electrified vehicles in the future. Michigan’s groundbreaking program accelerates our ability to expand and focus our engineering and research efforts here.”
Ford is scheduled to bring a full battery commercial Transit Connect van-type commercial vehicle to market in 2010, followed by a full battery electric passenger car in 2011, and next-generation hybrid vehicles, including a plug-in version, by 2012.