US Department of Energy announces $2.5 billion loan to help manufacturing plants make EV batteries
2 years ago
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The US Department of Energy’s Loan Programs Office will announce Monday that it is issuing a $2.5 billion loan to help start three lithium battery manufacturing hubs in Ohio, Tennessee and Michigan. The DOE loan programs office will loan the money to Ultium Cells LLC, a joint venture of General Motors and South Korean battery manufacturer LG Energy Solutions, to make batteries to power electric vehicles.
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