• Home
  • News
    • Air Mobility
    • Commercial vehicles
    • Battery
    • Sales
    • Charging
    • Industry
    • China
    • Autonomous
    • Concept
    • Conversion
    • Green Energy
    • Hydrogen
    • Industry
    • Formula E
    • Market Outlook
    • Modification
    • Motorcycles
    • Official
    • Ownership Experience
    • Price
  • Events
  • Advertising
  • Contact
EVMagz
SUBSCRIBE
No Result
View All Result
  • Home
  • News
    • Air Mobility
    • Commercial vehicles
    • Battery
    • Sales
    • Charging
    • Industry
    • China
    • Autonomous
    • Concept
    • Conversion
    • Green Energy
    • Hydrogen
    • Industry
    • Formula E
    • Market Outlook
    • Modification
    • Motorcycles
    • Official
    • Ownership Experience
    • Price
  • Events
  • Advertising
  • Contact
EVMagz
SUBSCRIBE
No Result
View All Result
EVMagz
No Result
View All Result

U.S. Energy Department intends to loan a joint venture of GM and LG Energy Solution $2.5 billion to help construction of EV battery plant

by Michael Khan
July 26, 2022
in Battery
0
Generals Motor 750x375 - U.S. Energy Department intends to loan a joint venture of GM and LG Energy Solution $2.5 billion to help construction of EV battery plant
136
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

The US Department of Energy announced that it will provide a $2.5 billion loan to Ultium Cells LLC, a joint venture of General Motors Co (GM.N) and LG Energy Solution for the construction of a lithium-ion battery cell production facility.

The loan comes from the government’s Advanced Technology Vehicles Manufacturing (ATVM) loan program. The program previously provided low-cost government loans to Tesla, Ford and Nissan.

President Joe Biden’s administration is targeting 50% of US car production by 2030 to be hybrid or all-electric vehicles.

“We have to have vehicle manufacturing capacity but also battery manufacturing capacity,” said Jigar Shah, who directs the Energy Department loan program office.

The battery production facility to be built is expected to create 5,000 new jobs.

“facilities will create more than 5,000 new high-tech jobs in the United States. We are grateful for the consideration and look forward to working with the Department of Energy on next steps.” Ultium said in a statement

GM and LG have invested more than $7 billion to build three electric vehicle battery factories. The Ohio battery production facility is expected to start in August with a total of 700 workers.

Meanwhile, production at the Tennessee plant will begin in late 2023 and in Michigan in 2024.

Source: Reuters
Tags: electric vehicleelectric vehiclesEV batterygeneral motorshybridInvestLG Energy SolutionlithiumLithium-ion
Previous Post

Silk-FAW plans to produce electric luxury hypercars in Italy under the Hongqi brand

Next Post

Changan Shenlan SL03 launched in China to compete with Model 3, starting at $25,000

Michael Khan

Michael Khan

With a background in electrical engineering and programming, Michael Khan became passionate about electric cars around 2007

Related Posts

LGES Poland Wroclaw 350x250 - U.S. Energy Department intends to loan a joint venture of GM and LG Energy Solution $2.5 billion to help construction of EV battery plant

LG Energy Solution in Talks with Tesla to Supply Batteries from Arizona Factory – Report

by Benedict Mcdaniel
February 2, 2023
0

LG Energy Solution, a leading manufacturer of lithium-ion battery cells, stated during a recent conference that it is in discussions...

China's electric vehicle battery giant CATL's profit jumps 164 percent in Q2-2022

CATL Announces Massive Investment in Battery Recycling and Processing Park

by Casper Benedict
February 1, 2023
0

CATL, the leading Chinese battery manufacturer, has announced plans to invest up to ¥23.8 billion (approx. €3.25 billion) in the...

storedot 350x250 - U.S. Energy Department intends to loan a joint venture of GM and LG Energy Solution $2.5 billion to help construction of EV battery plant

StoreDot and Circulor Partner to Ensure Sustainable and Transparent Battery Supply Chains for EVs

by Harding Greenwood
February 1, 2023
0

StoreDot, the leading innovator in extreme fast charging battery technology for EVs, has teamed up with Circulor, a top-tier provider...

bak power 350x250 - U.S. Energy Department intends to loan a joint venture of GM and LG Energy Solution $2.5 billion to help construction of EV battery plant

BAK Battery to Build Cylindrical Cell Factory with 30 GWh Capacity

by Floyd Hawkins
January 31, 2023
0

BAK Battery, a Chinese battery manufacturer, is set to construct a factory for cylindrical cell production with an annual capacity...

Next Post
Changan Shenlan SL03 75x75 - U.S. Energy Department intends to loan a joint venture of GM and LG Energy Solution $2.5 billion to help construction of EV battery plant

Changan Shenlan SL03 launched in China to compete with Model 3, starting at $25,000

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Hyundai Ioniq 6 Receives Impressive EPA Range Ratings 120x86 - U.S. Energy Department intends to loan a joint venture of GM and LG Energy Solution $2.5 billion to help construction of EV battery plant

Hyundai IONIQ 6 Official EPA Range Revealed, Up to 361 Miles for Longest-Range Model

February 1, 2023
Nio ET7 is priced lower in Norway than in China

NIO Reports 8,506 Vehicle Deliveries in January 2023, Down 46% from December 2022

February 1, 2023
Rivian R1T Vs Tesla Model 3 120x86 - U.S. Energy Department intends to loan a joint venture of GM and LG Energy Solution $2.5 billion to help construction of EV battery plant

Rivian R1T Damaged During Charging at Electrify America Station

February 1, 2023
rsz 1bt stack sq 120x86 - U.S. Energy Department intends to loan a joint venture of GM and LG Energy Solution $2.5 billion to help construction of EV battery plant

Canoo Awarded Contract by Defense Innovation Unit for Battery Module Supply

February 1, 2023
Volkswagen ID 4 2 120x86 - U.S. Energy Department intends to loan a joint venture of GM and LG Energy Solution $2.5 billion to help construction of EV battery plant

Volkswagen Will Not Follows Tesla in Cutting Electric Vehicle Prices

January 31, 2023
proterra elektrobus electric bus usa 120x86 - U.S. Energy Department intends to loan a joint venture of GM and LG Energy Solution $2.5 billion to help construction of EV battery plant

Sonoma County Commits to Green Transportation with Purchase of 10 Battery-Electric Buses from Proterra

February 2, 2023
ABB Mobility 120x86 - U.S. Energy Department intends to loan a joint venture of GM and LG Energy Solution $2.5 billion to help construction of EV battery plant

ABB E-Mobility Secures €326 Million in Final Round of Pre-IPO Private Placement

February 2, 2023
Rivian 25000 EV Production 120x86 - U.S. Energy Department intends to loan a joint venture of GM and LG Energy Solution $2.5 billion to help construction of EV battery plant

Rivian Celebrates Milestone of 25,000 Units of Electric Vehicle Production

February 2, 2023
mercedes benz gle 120x86 - U.S. Energy Department intends to loan a joint venture of GM and LG Energy Solution $2.5 billion to help construction of EV battery plant

Mercedes-Benz Unveils Model Update for GLE SUV and GLE Coupé

February 2, 2023
wolfspeed zf saarland 120x86 - U.S. Energy Department intends to loan a joint venture of GM and LG Energy Solution $2.5 billion to help construction of EV battery plant

Wolfspeed and ZF Partner to Establish European SiC Semiconductor Plant in Saarland

February 2, 2023

Tags

Automotive autonom Autonomous batteries bmw BYD charging charging station china commercial vehicle company concept Electric Bus electric car Electric Truck electric vehicle electric vehicles Energy europe Fast Charging fleet germany hybrid Hydrogen hyundai infrastructure Invest lithium Lithium-ion motorcycle performance platform price range sales sedan software specification specifications supply chain SUV technology toyota truck Volkswagen

About EVMagz

EVMagz is a website focused on reporting on electric vehicles industry. The site was officially launched at the end of 2021 and in a short period of time, with the expertise of the team, it has quickly become the website of choice for many people to get news about the electric vehicles.

  • Home
  • About Us
  • Advertising
  • Support EVMagz
  • Newsletter
  • Privacy Policy
  • Cookie Policy
  • Contact

Browse by Tag

Automotive autonom Autonomous batteries bmw BYD charging charging station china commercial vehicle company concept Electric Bus electric car Electric Truck electric vehicle electric vehicles Energy europe Fast Charging fleet germany hybrid Hydrogen hyundai infrastructure Invest lithium Lithium-ion motorcycle performance platform price range sales sedan software specification specifications supply chain SUV technology toyota truck Volkswagen

Recent Posts

  • Sonoma County Commits to Green Transportation with Purchase of 10 Battery-Electric Buses from Proterra
  • ABB E-Mobility Secures €326 Million in Final Round of Pre-IPO Private Placement

© 2023 Develop by EVMagz.

No Result
View All Result
  • News
    • Software
    • Autonomous
    • Battery
    • Charging
    • China
    • Commercial vehicles
    • Concept
    • Green Energy
    • Industry
    • Market Outlook
    • Modification
    • Motorcycles
    • Official
    • Politics
    • Rumors
    • Safety
    • Sales
    • Technology
  • Brand
    • Audi
    • BMW
    • BYD
    • Chevrolet
    • Chrysler
    • Citroen
    • Dacia
    • Daihatsu
    • Ford
    • Geely
    • Honda
    • Huawei
    • Hyundai
    • Kawasaki
    • KIA
    • Lexus
    • Lotus
    • Lucid
    • Mazda
    • Mercedes-Benz
    • Mitsubishi
    • NIO
    • Nissan
    • Polestar
    • Porsche
    • Renault
    • Rivian
    • Rolls-Royce
    • Sony
    • Subaru
    • Suzuki
    • Tesla
    • Toyota
    • VinFast
    • Volkswagen
    • Volvo
    • Wuling
    • XPeng
  • Guides
  • Sports
    • Formula E
    • MotoE
    • Rally1
  • Photos
  • Videos

© 2023 Develop by EVMagz.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT
Hey Friend! Get the latest electric vehicles news straight into your inbox!

Don't worry, we don't spam

Close this popup