US gives loan to GM and LG in mount more than 2 billion
2022.12.12 11:55
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US gives loan to GM and LG in mount more than 2 billion
Budrigannews.com – On Monday, the U.S. Energy Department made the finalization of a low-interest loan of $2.5 billion to a General Motors joint venture (NYSE:). and the LG Energy Solution to assist in financing three brand-new manufacturing facilities for lithium-ion battery cells.
The advance will assist with funding development of new lithium-particle fabricating offices in Ohio, Tennessee, and Michigan, supporting 6,000 development occupations and 5,100 activities occupations at the three plants. A fourth battery plant in the United States is under consideration by GM and LG Energy in Indiana.
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During her Monday trip to Michigan, Energy Secretary Jennifer Granholm of the United States intends to promote the Ultium loan’s closing along with Labor Department Deputy Secretary Julie Su, Michigan Governor Gretchen Whitmer, President Ray Curry of the United Auto Workers (UAW), and other officials, automakers, and EV battery companies.
GM’s stock is up 0.59 percent in midday trading on Monday.
