US DOE grants $2.5 billion loan to Ultium for lithium-ion battery cell production

The US Department of Energy closed a $2.5 billion loan to Ultium Cells to help finance the construction of three lithium-ion battery cell manufacturing facilities in the country, it said Dec. 12. Ultium, which is a North America-based battery joint venture between automaker General Motors and South Korea-based battery developer LG Energy Solutions, will be building lithium-ion battery gigafactories in…

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