GM secures $2.5 billion government loan to build EV battery factories

@ 2022/07/26
The Energy Department's Advanced Technology Vehicles Manufacturing Program (ATVMP) hasn't offered a loan to an electric car maker since 2010, but it's ready to offer money once again. As Reutersreports, the Energy Department is providing a $2.5 billion loan to the GM and LG joint venture Ultium Cells for the sake of constructing EV battery cell factories. This is the government agency's first loan for battery production under the program.

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