Recalling his stated intention in January to double U.S. exports within five years, Obama told Ford workers that the $250 million loan guarantee "means more production and more manufacturing jobs right here in the United States." The President was touring Ford's Chicago Assembly Plant in Illinois.
"The auto industry has gone through a difficult time. And it's not back to where it needs to be... It's going to take more time to heal from all the damage that was done. But were beginning to see our efforts pay off," Obama said on August 5.
"We are headed in the right direction. We are moving forward. The industry isn't just on the way back -- it's on the way to being number one again," he said to applause.
He added he was "convinced we're going to rebuild not only the auto industry but the economy better and stronger than before. And at its heart is going to be three powerful words: Made in America."
"Don't bet against the American worker. Don't lose faith in the American people. Don't lose faith in American industry. We are coming back," Obama said.
Copyright Agence France-Presse, 2010