Ford Motor Company
BlueOval SK Loan Agreement with Federal Financing Bank through DOE
Summary
On December 13, 2024, BlueOval SK, LLC, a joint venture among Ford Motor Company, SK On Co., Ltd., and SK Battery America, Inc., entered into a Loan Agreement with the Department of Energy to secure a loan from the Federal Financing Bank for up to $9,633,040,000 to finance battery manufacturing plants in Tennessee and Kentucky. Ford Motor Company, as a sponsor, has guaranteed 50% of the payment obligations under this loan. The agreement includes a Sponsor Support, Share Retention, and Subordination Agreement with terms similar to Ford's existing Credit Agreement.
Profitelligence Alerts
Get alerts for F
Be first to know when Ford Motor Company files with the SEC.
Filing Categories
Exhibits (1)
Advertisement
About Ford Motor Company
Ford Motor Company, a prominent entity in the automotive sector, is renowned for designing, manufacturing, and selling a full line of trucks, utility vehicles, and cars, domestically and internationally. This esteemed company, founded in 1903 and headquartered in Dearborn, Michigan, also holds a significant presence in the automotive financial services landscape through Ford Credit. Ford’s commitment to innovation is evident in its push towards sustainable and smart vehicles, including the development of electric and autonomous driving technologies. As a key player in the automotive industry, Ford impacts several sectors, including manufacturing, transportation, and energy. Its operations influence global supply chains, employment, and economic health. The company's broad market reach, storied history, and strategic emphasis on future mobility solutions reinforce its integral role in the automotive market's advancement and evolution.
Official SEC Documents
Advertisement