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Ford CEO Jim Farley Praises CHIPS Act As Bill Signed Into Law

As Ford has been forming partnerships with chipmakers amid a two-plus year-long shortage that has severely hampered production, the U.S. government has also been working on what’s known as the CHIPS Act, which aims to improve the flow of semiconductor chips and increase domestic production. Ford CEO Jim Farley recently co-hosted a summit consisting of senior government officials and other industry executives ahead of the signing of the CHIPS Act, which happened this morning. Now, Farley has heaped significant  praise on this new piece of legislation as well.

“Thank you to the leaders who made the CHIPS Act a reality to strengthen American supply chains, especially for legacy chips needed in auto and defense, Farley said via Twitter. “This bipartisan law will help Ford and the U.S. innovate, create jobs, build EVs customers love, and compete on the global stage.”

Officially called the CHIPS and Science Act of 2022, this new bill provides $52.7 billion for American semiconductor research, development, manufacturing, and workforce development, with $39 billion going to manufacturing incentives, $2 billion for chips used in automobiles and defense systems, $13.2 billion in research and and workforce development, and $500 million to provide for international information communications technology security and semiconductor supply chain activities.

Additionally, the CHIPS Act also provides a 25 percent investment tax credit for capital expenses for manufacturing of semiconductors and related equipment, $1.5 billion for promoting and deploying wireless technologies that use open and interoperable radio access networks, $10 billion to invest in regional innovation and technology hubs across the country, as well as various other science-related investments.

We’ll have more on the CHIPS Act soon, so be sure and subscribe to Ford Authority for non-stop Ford news coverage.

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

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Comments

  1. crabbymilton

    He threw his support behind Biden who wants to chase jobs away and now he wants the chips to be produced here? Well he’s in for a big disappointment. Where was he when Trump was pushing for companies to build more things here and not to need to rely on overseas sources. Interesting indeed.

    Reply
  2. Explorer ST

    I think Ford Authority needs to conduct an extensive investigation into who authorized the mobilization of these bots in the comment section. Its getting to Twitter level concern.

    Reply
    1. David Dickinson

      I’d be more interested to know why so many comments have vaporized in the last couple of weeks.

      Reply
      1. Joe

        Yes, they have been deleting comments that don’t carry Ford’s story line and when you go against their plans of phony EV production volume.

        Reply
        1. Steve Ketterer

          Exactly.

          Reply
          1. Explorer ST

            Maybe if you all would operate respectfully within the given parameters you wouldn’t have to worry about that… just a thought though

            Reply
  3. The Gentle Grizzly

    Gee. The taxpayers buy Ford a chip plant. This after Ford sold off or closed their own part making plants. So did GM.

    Reply
  4. Rinzler

    Some of y’all in these comments need to take your pills…

    Good to see high quality manufacturing jobs being taken seriously in this bill. Let’s see if industry leaders can materialize this into more next gen chip facilities.

    Reply
  5. NCEcoBoost

    The Act is praiseworthy but if you listened to the national news last evening, you’d have seen that its impact won’t be felt for at least 5, if not 10, years. And it’s due to vehicle manufacturer arrogance. No wonder vehicle manufacturers now top the arrogance list and they need a good blow to their heads, all around. New home builders are a close second and they need one as well.

    Reply
  6. Dwayne D

    Where is my comment?

    Reply
  7. Kenny D

    Well, I worked it the HI TECH INDUSTRY for 35 YEARS, “ONE” of our MAJOR Account’s was “INTEL” Located Smack Dab In the Middle of “SILICON VALLEY”. They had a HUGE PLANT / BUILDING that we had to Suit up to get into. What was it Called you “might” Ask???? “AUTOMOBILE CHIP ASSEMBLY” Ya, that’s Right Folks. Just Prior to me Leaving the FIELD, The Plant was SHUT DOWN and “MOVED” Over Sea’s!!! Yes, Once AGAIN, we SCREWED Ourselves and are Whining Like little Babies now because Our Own Government Decided What’s Best for “OUR COUNTRY” What Used to be The UNITED STATES OF “AMERICA”🇺🇸🇺🇸??? At One Point…… U F R

    Reply
  8. Donald D stettnisch

    No doubt that greedy american companies and strict EPA requirements drive jobs overseas
    But if any of you have any foreign named anything in your household you are as much to blame
    If no one ever bought a foreign car or toy or clothes going back 50 years we wouldn’t be in this predicament period

    Reply

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