Ford Motor Co.’s F joint venture with South Korea-based SK Inc.’s KR:034730 SK On is set to receive a record $9.2 billion loan from the U.S. Department of Energy to help build plants in Tennessee and Kentucky that make batteries for electric vehicles , according to a report in The Wall Street Journal on Thursday. The loan dwarfs the $2.5 billion loan deal for battery production reached last year by the joint venture between rival automaker General Motors Co. GM and LG Energy Solution Ltd.
’s F joint venture with South Korea-based SK Inc.’s 034730 SK On is set to receive a record $9.2 billion loan from the U.S. Department of Energy to help build plants in Tennessee and Kentucky that make batteries for electric vehicles , according to a report in The Wall Street Journal on Thursday. The loan dwarfs the $2.5 billion loan deal for battery production reached last year by the joint venture between rival automaker General Motors Co. GM and LG Energy Solution Ltd. 373220 .