U.S. Department Of Energy Finalizes Ford EV Plant Loan
The U.S. Energy Department is scrambling to finalize its EV commitments, including to Ford and GM, before the White House comes under new management in January.
Ford secures $9.63 billion federal loan for U.S. battery plants
In a landmark move, the U.S. Department of Energy (DOE) finalized a $9.63 billion loan to BlueOval SK, a joint venture between Ford Motor Company and South Korean battery maker SK On. The loan, announced on Monday,
DOE closes $9.63B loan to BOSK for construction of Ford EV battery plants
As part of the Biden-Harris Administration’s Investing in America agenda, the U.S. Department of Energy’s or DOE Loan Programs Office LPO announced the closing of a direct loan of up to $9.63B to BlueOval or BOSK for the construction of up to three manufacturing plants to produce batteries for Ford (F) Motor Company’s future Ford and Lincoln electric vehicles EVs.
US gives final OK for $9.63B loan for Ford joint venture EV battery plants
The loan, meant to boost EV production, won final approval from Biden's Department of Energy as Trump prepares to trim EV-adoption policies.
Ford And SK On Get $9.6 Billion Loan From US Government For Local Battery Plants
The three plants will have the capacity to produce 120 GWh worth of EV batteries each year. This loan has been in the works for more than 18 months and was only just approved. The DOE has also made recent loan commitments to Rivian and Stellantis.
Ford Motor and JV partner SK On land finalized $9.6B loan for EV battery plants
The U.S. Energy Department announced that it finalized a $9.63 billion loan to a joint venture of Ford Motor (NYSE:F) and South Korean battery maker SK On to help finance construction of three new battery manufacturing plants in Tennessee and Kentucky.
DOE finalizes $9.63B loan for BlueOval SK electric vehicle battery plants in TN, KY
BlueOval SK’s three plants, one in Tennessee and two in Kentucky, are expected to create 7,500 operations jobs once the plants are up and running.
Ford EV Battery Joint Venture Secures $9.63 Billion Loan From US Energy Department
Ford Motor's (F) joint venture with South Korean electric vehicle battery manufacturer SK On secured an up to $9.63 billion loan from the US government for the construction of three new battery production plants.
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