Tennessee the place to be?Exclusive: U.S. Energy Department set...

Tennessee the place to be?

Exclusive: U.S. Energy Department set to loan GM battery joint venture $2.5 bln
WASHINGTON, July 25 (Reuters) - The U.S. Energy Department on Monday plans to announce it intends to loan a joint venture of General Motors Co (GM.N) and LG Energy Solution (373220.KS) $2.5 billion to help finance construction of new lithium-ion battery cell manufacturing facilities, officials told Reuters.The conditional commitment for the loan to Ultium Cells LLC for facilities in Ohio, Tennessee, and Michigan is expected to close in the coming months and comes from the government's Advanced Technology Vehicles Manufacturing loan program, which has not funded a new loan since 2010.

https://www.reuters.com/business/autos-transportation/exclusive-us-energy-department-set-loan-gm-battery-joint-venture-25-bln-2022-07-25/

Side note: Spring Hill, Tennessee :In April, we announced plans for a second facility in Spring Hill, Tennessee, and progress is well under way, next door to where General Motors will build the all-electric Cadillac LYRIQ. The state-of-the-art Spring Hill plant will use the most advanced and efficient battery cell manufacturing processes. The plant will be extremely flexible and able to adapt to ongoing advances in technology and materials.

https://www.ultiumcell.com/our-locations/spring-hill-tn