GM EV Battery Joint Venture to Receive $2.5 Billion DOE Loan

August 1, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--The U.S. Department of Energy (DOE) has announced a conditional loan of $2.5 billion for Ultium Cells LLC, a joint venture between General Motors Company (NYSE:GM) (Detroit, Michigan) and South Korean battery maker LG Energy Solution, for the construction of lithium-ion battery cell-manufacturing facilities in Ohio, Tennessee and Michigan. Industrial Info is tracking the projects, which will supply GM's auto assembly plants.