$9.2bn Federal Loan Expected for Ford Battery Plants

Leases & LoansMoney MattersElectric VehiclesHigh Tech / High Touch
Written By Jennifer Joslyn

🤑 $9.2bn Federal Loan Expected for Ford Battery Plants.

Ford's ambitious plans for battery plants in Tennessee and Kentucky, aimed at manufacturing electric vehicles and EV components, are set to receive a record-breaking $9.2 billion federal loan from the U.S. Department of Energy. Once job creation goals are met, the loan will be granted to BlueOval SK, a joint venture between Ford and SK On. In addition to the battery plants, Ford and SK On are investing a total of $5.8 billion in a Ford assembly plant in Tennessee, with hopes of generating thousands of construction and operational jobs in the process.

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Jennifer Joslyn
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