DOE announces $2.5B loan to Ultium Cells for three US battery cell manufacturing facilities
Green Car Congress
DECEMBER 13, 2022
The US Department of Energy (DOE), through its Loan Programs Office (LPO), announced the closing of a $2.5-billion loan to Ultium Cells LLC to help finance the construction of new lithium-ion battery cell manufacturing facilities in Ohio, Tennessee, and Michigan. Ultium Cells, a joint venture between General Motors and LG Energy Solution, will manage battery cell production at the three facilities to address the growing demand for electric vehicles (EVs).
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