Ford Earmarks An Additional $850 Million To Build Fuel Efficient Cars

With car sales starting to inch higher and the threat of bankruptcy only faintly visible in the rear-view mirror, Ford is loosening its purse strings once again. On Monday afternoon, the Dearborn, Michigan based company announced that it will invest another $850 million into the development of more fuel efficient cars and technology. That cash, which is earmarked for 2011 to 2013, is still contingent on whether the Michigan Economic Development Council approves a robust package of incentives (due for consideration later this week). According to reports— if the package gets the greenlight— Ford will benefit from roughly $400 million in state incentives.