Ultium Cells To Get $2.5 Billion Loan From US Department Of Energy via insideevs.com
The US Department of Energy has announced it intends to offer a $2.5 billion loan to Ultium Cells LLC, the battery joint venture between General Motors and LG Energy Solutions.new lithium-ion battery cell manufacturing plants in Ohio, Tennessee and Michigan
The conditional commitment for the loan to Ultium Cells comes from the US government's Advanced Technology Vehicles Manufacturing program, which last funded a loan in 2010. This will be the Department of Energy's first loan for a battery cell manufacturing project under the vehicle program.
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