US DoE offers a USD2.5 billion loan to Ultium Cells to assist in building 3 new EV battery plants

Policy & Regulation

Ultium Cells’s capacity expansion will support GM’s plans to produce more than one million EVs annually in North America

The US Department of Energy (DoE), through its Loan Programs Office (LPO), has loaned USD2.5 billion to Ultium Cells LLC to finance the company in constructing new lithium-ion battery cell manufacturing facilities in Ohio, Tennessee, and Michigan, DoE said on 12 December 2022.

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