DOE extends $2.5B loan to build 3 EV battery factories
DOE extends $2.5B loan to build 3 EV battery factories
Abstract
The Department of Energy is offering a $2.5 billion conditional loan to Ultium Cells, a joint venture between LG Energy Solutions and General Motors. The loan will help build new EV battery factories in Ohio, Tennessee and Michigan. The three facilities are expected to create 6,000 construction jobs and 5,100 operations jobs when they are at full capacity. The investment comes amid a groundswell of public and private interest in electric vehicles and battery infrastructure. The ATVM funding also complements $7. 5.5.5 million in funding for battery infrastructure in the inventors.
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Dive Brief:
Amid the federal governmentโs push for more electric vehicles, the Department of Energy announcedย last week that it is offering a $2.5 billion conditional loan to Ultium Cells, a joint venture between LG Energy Solutions and General Motors. The loan will help build new EV battery factories in Ohio, Tennessee and Michigan.ย
The three facilities are expected to create 6,000 construction jobs and 5,100 operations jobs when they are at full capacity. The conditional loan was filed t...
Dive Brief:
Amid the federal governmentโs push for more electric vehicles, the Department of Energy announcedย last week that it is offering a $2.5 billion conditional loan to Ultium Cells, a joint venture between LG Energy Solutions and General Motors. The loan will help build new EV battery factories in Ohio, Tennessee and Michigan.ย
The three facilities are expected to create 6,000 construction jobs and 5,100 operations jobs when they are at full capacity. The conditional loan was filed t...
August 10, 2022
Debra K. Rubin
KEYWORDS battery plant / Dept of Energy / EV manufacturing / federal loan / GM
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Seeking to stimulate domestic electric vehicle production, the U.S. Dept. of Energy is providing hundreds of millions in new loans for U.S. advanced battery component manufacturing plants being built...
August 10, 2022
Debra K. Rubin
KEYWORDS battery plant / Dept of Energy / EV manufacturing / federal loan / GM
Order Reprints
No Comments
Seeking to stimulate domestic electric vehicle production, the U.S. Dept. of Energy is providing hundreds of millions in new loans for U.S. advanced battery component manufacturing plants being built...
July 14, 2022
James Leggate
KEYWORDS Construction / EV battery / Kansas / Panasonic
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Panasonic Energy Co. plans to build a $4-billion electric vehicle battery plant in Kansas, company leaders and state officials announced July 13.ย The subsidiary of Japan-based tech company Panasonic Group did not say whether i...
July 14, 2022
James Leggate
KEYWORDS Construction / EV battery / Kansas / Panasonic
Order Reprints
No Comments
Panasonic Energy Co. plans to build a $4-billion electric vehicle battery plant in Kansas, company leaders and state officials announced July 13.ย The subsidiary of Japan-based tech company Panasonic Group did not say whether i...
July 14, 2022
James Leggate
KEYWORDS EV battery / Kansas / Panasonic
Order Reprints
No Comments
Panasonic Energy Co. plans to build a $4-billion electric vehicle battery plant in Kansas, company leaders and state officials announced July 13.ย The subsidiary of Japan-based tech company Panasonic Group did not say whether it had selected a ...
July 14, 2022
James Leggate
KEYWORDS EV battery / Kansas / Panasonic
Order Reprints
No Comments
Panasonic Energy Co. plans to build a $4-billion electric vehicle battery plant in Kansas, company leaders and state officials announced July 13.ย The subsidiary of Japan-based tech company Panasonic Group did not say whether it had selected a ...
President Joe Biden announced $2.8 billion in grants on Wednesday to expand U.S. production of electric vehicle batteries, with some awards going to suppliers of major auto companies including Tesla and Mercedes-Benz. Twenty companies received grants ranging from $50 million to over $480 million under the first round of funding through the Bipartisan Infrastructure law. The president also announced the American Battery Materials Initiative, a whole-of-government effort to secure a reliable and s...
President Joe Biden announced $2.8 billion in grants on Wednesday to expand U.S. production of electric vehicle batteries, with some awards going to suppliers of major auto companies including Tesla and Mercedes-Benz. Twenty companies received grants ranging from $50 million to over $480 million under the first round of funding through the Bipartisan Infrastructure law. The president also announced the American Battery Materials Initiative, a whole-of-government effort to secure a reliable and s...
Winvic is on-board as main contractor on the battery cell scale-up facility at Prologis Park Hams Hall just outside Birmingham. Britishvolt will lease the centre from Prologis which will complement its ยฃ300m battery gigaplant factory being built by ISG in Northumberland. Work there will spearhead new cell formats and electro chemistries to create higher performance, production ready, batteries of the future while helping lower cell costs for more affordable electric cars. The West Midlands si...
Winvic is on-board as main contractor on the battery cell scale-up facility at Prologis Park Hams Hall just outside Birmingham. Britishvolt will lease the centre from Prologis which will complement its ยฃ300m battery gigaplant factory being built by ISG in Northumberland. Work there will spearhead new cell formats and electro chemistries to create higher performance, production ready, batteries of the future while helping lower cell costs for more affordable electric cars. The West Midlands si...
Dive Brief:
Panasonic will build a $4 billion battery production facility in De Soto, Kansas, as it looks to expand capacity to meet rising electric vehicle demand, the company jointly announced with Kansas Governor Laura Kelly this week.
The proposed lithium-ion battery manufacturing facility outside Kansas City will expand Panasonic's U.S. EV-production capacity. The company has so far shipped more than six billion EV battery cells out of its current operation in Nevada.
"With the increased e...
Dive Brief:
Panasonic will build a $4 billion battery production facility in De Soto, Kansas, as it looks to expand capacity to meet rising electric vehicle demand, the company jointly announced with Kansas Governor Laura Kelly this week.
The proposed lithium-ion battery manufacturing facility outside Kansas City will expand Panasonic's U.S. EV-production capacity. The company has so far shipped more than six billion EV battery cells out of its current operation in Nevada.
"With the increased e...
MAXEX is launching a new loan-purchasing program for originators looking to tap into the growing mortgage demand from individual and small-business real estate investors.
The post MAXEX extends loan-trading reachย with DSCR program appeared first on HousingWire.
MAXEX is launching a new loan-purchasing program for originators looking to tap into the growing mortgage demand from individual and small-business real estate investors.
The post MAXEX extends loan-trading reachย with DSCR program appeared first on HousingWire.
August 10, 2022
Debra K. Rubin
KEYWORDS battery plant / Dept of Energy / EV manufacturing / federal loan / GM
Order Reprints
No Comments
Seeking to stimulate domestic electric vehicle production, the U.S. Dept. of Energy is providing hundreds of millions in new loans for U.S. advanced battery component manufacturing plants now being b...
August 10, 2022
Debra K. Rubin
KEYWORDS battery plant / Dept of Energy / EV manufacturing / federal loan / GM
Order Reprints
No Comments
Seeking to stimulate domestic electric vehicle production, the U.S. Dept. of Energy is providing hundreds of millions in new loans for U.S. advanced battery component manufacturing plants now being b...
Federal officials have approved funding plans from 35 states, the District of Columbia and Puerto Rico to deploy electric-vehicle charging stations along their highways, clearing a path for them to tap more than $900 million in federal formula funds to help build their part of what the Biden administration envisions as a nationwide network of about 500,000 chargers along 53,000 miles of roads.In a Sept. 14 progress report, the U.S. Transportation and Energy Depts. said the Infrastru...
Federal officials have approved funding plans from 35 states, the District of Columbia and Puerto Rico to deploy electric-vehicle charging stations along their highways, clearing a path for them to tap more than $900 million in federal formula funds to help build their part of what the Biden administration envisions as a nationwide network of about 500,000 chargers along 53,000 miles of roads.In a Sept. 14 progress report, the U.S. Transportation and Energy Depts. said the Infrastru...