Energy Department backs $2.5bn loan to GM venture for EV batteries

Follow-ups -eshrag News:

Tue, 2022-07-26 19:14

WASHINGTON: A joint venture between General Motors and South Korean battery company LG Energy Solution is set to receive a $2.5 billion loan from the Energy Department to build battery cell factories for electric vehicles in three states.

The Energy Department said it has made a conditional commitment to lend the money to Ultium Cells, a joint venture of GM and LG.

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