US to lend €8.4 billion for Ford battery plants in clean energy push

“This effort supports President Biden’s Investing in America agenda to onshore and reshore domestic manufacturing of technologies that are critical to reaching the clean energy and transportation future,” Jigar Shah, the head of the LPO, said in a statement on Thursday.

Ford and SK announced in 2021 they would invest $11 billion to construct an electric vehicle assembly plant, battery factory and supplier in Tennessee, along with the two battery plants in Kentucky. In February, Ford announced it would make batteries that contain technology from China’s CATL in a new $3.5 billion factory in Michigan, a move that caused political backlash from some Republican politicians.

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