EV Battery Plant Projects Get US Energy Dept. Financial Boost
EV Battery Plant Projects Get US Energy Dept. Financial Boost
Abstract
DOE announced in July a $2.5-billion conditional loan to a General Motors Corp. joint venture with South Korea's LG Solutions that now has three large battery cell plants under construction. DOE said its loan, which could close in two months, would be the first for a battery cell manufacturing project under the agency's Advanced Technology Vehicles Manufacturing program. The first plant, in Lordstown, Ohio, is set to begin battery production. The third plant is expected to start in late 2023. The second plant in Lansing, Mich. is set. to begin in late 2024.
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