Editor's note: Credit extended through the green bond program will be used for the purchase of electric or hybrid vehicles, a Ford spokesman said. An earlier version of this story misstated those terms.
DETROIT — Ford Motor Co. last month announced a new "sustainable financing framework" that will provide the automaker with access to new sources of capital, including investors supporting environmental, social and governance initiatives.
Officials say new green bonds would enable Ford Credit to extend financing to customers with lower credit scores, while requiring them to buy electric or hybrid vehicles.
Days later, Ford issued a $2.5 billion green bond, which has a 3.25 percent coupon and comes due in 2032, to help fund some of its upcoming EVs.
Dave Webb, Ford's treasurer, and Bob Holycross, Ford's vice president of sustainability, environment and safety engineering, spoke with Staff Reporter Michael Martinez about the new framework. Below are edited excerpts.