GM, LG Venture Get $2.5 Billion from Government for Lithium-Ion Battery Plants
Dec. 12, 2022
Dec. 9, 2022—A $2.5 billion low-cost loan has been approved for General Motors and LG Energy Solution to fund three lithium-ion battery cell plants.
The loan, provided by U.S. Energy Department, will enable the companies to build manufacturing facilities in Ohio, Tennessee and Michigan and will reportedly provide 11,000-plus jobs.
According to Reuters, GM and LG Energy are targeting Indiana for a future plant site and anticipate the Michigan plant’s opening in 2024.
