Global Infrastructure SherpaUltium Cells Receives $2.5 Billion Loan from DOE for Battery Cell Production
The U.S. Department of Energy (DOE) announced a conditional commitment for a $2.5 billion loan to Ultium Cells LLC to help finance the construction of new lithium-ion battery cell manufacturing facilities in Ohio, Tennessee, and Michigan.
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The project is expected to create approximately more than 11,000 good-paying jobs—6,000 in construction jobs and 5,100 in operations—across the three facilities, including more than 700 United Auto Worker jobs in the newly-organized Warren, Ohio facility. Quote: "The project is expected to create approximately more than 11,000 good-paying jobs—6,000 in construction jobs and 5,100 in operations—across the three facilities, including more than 700 United Auto Worker jobs in the newly-organized Warren, Ohio facility."
"the U.S. Department of Energy (DOE), through its Loan Programs Office (LPO), today announced the closing of a $2.5 billion loan to Ultium Cells LLC"
"announced the closing of a $2.5 billion loan to Ultium Cells LLC to help finance the construction of new lithium-ion battery cell manufacturing facilities in Ohio, Tennessee, and Michigan."
"Ultium Cells, a joint venture between General Motors and LG Energy Solution, will manage battery cell production at the three facilities"
"Ultium Cells, a joint venture between General Motors and LG Energy Solution, will manage battery cell production at the three facilities"