Biden To Loan Billions In Assistance To EV Battery Company
General Motors plans to go all-electric by 2035, cutting off the need for conventional gas and diesel-powered engines.
The United States Department of Energy’s loan programs office announced that it is issuing a loan to assist the start up of three lithium battery manufacturing hubs in three U.S. states. The DOE loan programs office is set to loan $2.5 billion to Ultium Cells LLC. The company is a joint venture of ‘General Motors’ and ‘South Korean battery manufacturer…