The DOE endowed a loan for Ultium Cells, a GM and LG Energy Solution joint venture, to support battery cell producers in Tennessee, Michigan, and Ohio and foster EV growth in the US.
Ultium, LG, and GM Receive DOE Funding that will Promote EV utilization in US
In order to assist fund EV lithium-ion battery cell manufacturers in three states, the US Department of Energy (DOE) has approved a conditional loan of $2.5 billion for Ultium Cells, a joint venture between General Motors (GM) and battery maker LG Energy Solution. The loan is meant to aid the US's growing use of electric vehicles.
Ultium will be able to support GM, which has said that it intends to produce 1 million EVs annually by 2025, by providing EV batteries thanks to the financing, which is anticipated to conclude within months.
The funding comes from the US government's Advanced Technology Vehicles Manufacturing Loan Agency, which has previously granted money to Nissan, Ford, and Tesla. However, the program hasn't made a new loan since 2010.
It is the first loan that this DOE program has given out specifically for a project involving the production of battery cells.
The factories will be situated in Tennessee, Michigan, and Ohio. The DOE estimates that when the three facilities are fully operational, they will generate 5,100 operations jobs and 6,000 well-paying construction jobs combined.
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Additionally, the DOE claims that opening the three plants would help cut prices, increase access to, and make US-made electric cars more affordable by concentrating more on the battery manufacturing supply chain in the US.
Through the partnership, GM and LG will contribute more than $7 billion to the construction of three battery factories. An Ultium representative stated that production at the Ohio battery factory would start in August. At the same time, its Tennessee factory will begin producing in late 2023, while its Michigan plant will start creating in 2024.
Some of Ultium Cells' Personnel in Lordstown were Sent to a Hospital After an Alledged Chemical Exposure
After a possible chemical exposure at Ultium Cells LLC in Lordstown, some individuals received medical attention or were brought to the hospital.
The Lordstown Fire Department reported that a few workers at the Tod Avenue factory reported experiencing a response to a chemical in the vicinity of where they were working.
According to an Ultium Cells spokesperson, the exposure led to the hospitalization of two personnel. Others received care on-site at a medical facility, and their families were called to pick them up.
What caused the exposure and how many persons were harmed are yet unknown.
Additionally, a 19-year-old male was taken from Ultium Cells to a hospital on July 25 after an electrical shock, according to public data from 911 dispatch.
OSHA is aware of a number of worrying occurrences that have occurred at the brand-new Ultium Cells Battery facility in Lordstown.
After two more workers were transported to a hospital from the facility today, family members of those who work there are concerned and want OSHA to look into safety issues.
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