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.
Another government bail out for the future at GM history repeats its self and the elite get paid Over and over from the slaves called the working citizens
If you really want to do something meaningful, why don't you step up and do something about things like $MMTLP? I'm guessing you are in bed with these HFs and MMs that screw the everyday person. The retail investor gets screwed, and you just sit here and put on a show.
Now they need to figure out a way to “put batteries inside of cars”
Endless socialism
Bring business home.
Does a loan mean they have to pay it back? What’s the terms? Curious
2009 Chapter 11 vibes.
I wanna 100k federal loan to start a bussing here in America,please give it to me
So it can burn more cars up and homes .a fire you can't put out and all the ingredients come from the earth Humm just like gas and oil open your eyes not the lies truth hurts democrats
*USGM
Waste of tax payers money they should not need the $
amazing. i'd love to see where all of these $$$ go. Union, Big Guy, Biden Crime family cronies, etc.
Why is the taxpayers subsidizing these Companies?
I have a small business I want to start, can I get a federal loan? Doubtful..
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