A joint venture between General Motors and South Korean battery company LG Energy Solution has closed on a $2.5 billion federal loan to help finance three...
NEW YORK — A joint venture between General Motors GM and South Korean battery company LG Energy Solution KR:373220 has closed on a $2.5 billion federal loan to help finance three lithium-ion battery cell plants in Ohio, Tennessee, and Michigan.
The Department of Energy awarded the loan to the venture, called Ultium Cells, for the plants, which are expected to create about 11,000 jobs. The loan is part of a government program designed to address the growing need for batteries for electric vehicles. The... NEW YORK — A joint venture between General Motors GM and South Korean battery company LG Energy Solution 373220 has closed on a $2.5 billion federal loan to help finance three lithium-ion battery cell plants in Ohio, Tennessee, and Michigan.
The Department of Energy awarded the loan to the venture, called Ultium Cells, for the plants, which are expected to create about 11,000 jobs. The loan is part of a government program designed to address the growing need for batteries for electric vehicles.The Biden administration has been working to strengthen U.S. energy independence and reduce dependence on China for critical components. Ultium Cells will supply GM as it works to convert its light-duty fleet to all-electric by 2035.
The plants are planned for Lansing, Michigan and Spring Hill, Tennessee. A plant near Warren, Ohio, began battery cell production in August.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Dogs gifted by North's Kim resettle in South Korean zooTwo white Pungsan hunting dogs gifted by North Korean leader Kim Jong Un to South Korea's former president four years ago ended up at a zoo in South Korea after a dispute over who should finance the caring of the animals.
Lire la suite »
Dogs gifted by North's Kim resettle in South Korean zooA pair of dogs gifted by North Korean leader Kim Jong Un four years ago have ended up at a zoo in South Korea following a dispute over who should foot the bill for the animals' care
Lire la suite »
Fired Up: A Look at the 55 Engines and Motors That Power NASA’s Artemis MissionOn Earth, many cars on the road are powered by engines that convert fuel into energy to produce motion. Although rocket science is a little more complex, the same basic principle applies to the engines and motors that help power a journey to the Moon. On the current (and upcoming) Artemis missions,
Lire la suite »
Lucid Motors Offers Discounts as Demand ShrinksBoth customers and employees are eligible for significant discounts before year’s end.
Lire la suite »
Brilliant barges under £15k | Six of the BestMassive motors for minimal money are a PH favourite - here's a hearty half dozen of them 🥰
Lire la suite »
(G)I-DLE’s Jeon Soyeon Is Only Korean Artist To Make 2022 Dazed 100 List(G)I-DLE’s Jeon Soyeon Is Only Korean Artist To Make 2022 Dazed 100 List
Lire la suite »