US DOE approves $9.63 billion loan for Ford and SK On's EV battery plants
The loan will support the construction of three EV battery plants in Tennessee and Kentucky, creating thousands of jobs and boosting domestic EV production
The US Energy Department (DOE) has finalized a direct loan of up to $9.63 billion to BlueOval SK, a collaboration between Ford Motor Co. and South Korean battery-maker SK On, according to media reports.
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