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US Energy Department Announces $2.5B Loan for 3 EV Battery Facilities

12 Dec 2022 | Abstracted from UPI

"$2.5 billion loan for a partnership between General Motors and LG Energy Solutions to construct three electric vehicle battery facilities in Michigan, Ohio and Tennessee.

"The deal for the plants is expected to help create more than 11,000 jobs, 6,000 from the construction of the plants and another 5,100 in operations... about 700 of those jobs will go to United Auto Workers union members.

"$2.8 billion in grants from the Energy Department to build up the United States' battery mineral and material supply chain."



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