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Today, the DOE Loan Programs Office (LPO) announced approval of a loan up to $2.5 billion to Ultium Cells to finance the construction of three manufacturing plants to make electric vehicle lithium-ion battery cells in Lansing, MI; Lordstown, OH; and Spring Hill, TN. The funding was secured by the Biden-Harris Administration’s Infrastructure Law with $7.5 billion for EV charging and more than $7 billion for the critical minerals supply chains necessary for batteries, components, materials and recycling. (AutoInformed.com on EVs – at $7B GM Makes Largest Announcement in History)
It is the latest fulfillment of the Biden Administration’s pledge to protecting American jobs, as well as the Constitution, in stark contrast to the last mis-administration. In Michigan, the Department of Energy also launched next steps in the Battery Workforce Initiative (BWI), a program geared toward supporting workforce training for good clean energy manufacturing jobs and the development of strategies to bring supply chains back home from overseas.
In July, LPO announced a conditional commitment for the loan to General Motors’ Ultium Cells to manufacture large format, pouch-type cells that use a state-of-the-art nickel-cobalt-manganese-aluminum chemistry to deliver more range at less cost. Ultium Cells plans to use this technology in coordination with GM’s work to eliminate 100% of tailpipe emissions from its new light-duty vehicles by 2035. This also supports GM’s plans to build one million EVs in North America by the end of 2025, along with making its global products and operations carbon neutral by 2040.
The three facilities are expected to create 6,000 good-paying construction jobs and 5,100 operations jobs when they are at full capacity.
LPO is offering the conditional commitment through the Advanced Technology Vehicles Manufacturing (ATVM) program, which provides loans to support U.S. manufacturing of light-duty vehicles, qualifying components, and materials that improve fuel economy. This would be LPO’s first loan exclusively for a battery cell manufacturing project under ATVM. Financing from the ATVM program complements the historic investments
LPO notes that the EV market is expected to grow substantially in the coming years. According to BloombergNEF, plug-in vehicle sales are expected to grow from 6.6 million in 2021 to 20.6 million in 2025. The rising demand for EVs increases the need for EV batteries, with BloombergNEF forecasting demand to exceed 580GWh in America by 2030.
LPO is supporting the National Blueprint for Lithium Batteries, which offers a vision for the United States and its partners to establish a secure battery materials and technology supply chain that supports long-term economic competitiveness in America and enables equitable job creation and decarbonization. The former President along with the Republican party were and still are rejecters that Global Warming is real with substantial money from petroleum interests.
Biden Admin Making American Manufacturing Great Again
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Today, the DOE Loan Programs Office (LPO) announced approval of a loan up to $2.5 billion to Ultium Cells to finance the construction of three manufacturing plants to make electric vehicle lithium-ion battery cells in Lansing, MI; Lordstown, OH; and Spring Hill, TN. The funding was secured by the Biden-Harris Administration’s Infrastructure Law with $7.5 billion for EV charging and more than $7 billion for the critical minerals supply chains necessary for batteries, components, materials and recycling. (AutoInformed.com on EVs – at $7B GM Makes Largest Announcement in History)
It is the latest fulfillment of the Biden Administration’s pledge to protecting American jobs, as well as the Constitution, in stark contrast to the last mis-administration. In Michigan, the Department of Energy also launched next steps in the Battery Workforce Initiative (BWI), a program geared toward supporting workforce training for good clean energy manufacturing jobs and the development of strategies to bring supply chains back home from overseas.
In July, LPO announced a conditional commitment for the loan to General Motors’ Ultium Cells to manufacture large format, pouch-type cells that use a state-of-the-art nickel-cobalt-manganese-aluminum chemistry to deliver more range at less cost. Ultium Cells plans to use this technology in coordination with GM’s work to eliminate 100% of tailpipe emissions from its new light-duty vehicles by 2035. This also supports GM’s plans to build one million EVs in North America by the end of 2025, along with making its global products and operations carbon neutral by 2040.
The three facilities are expected to create 6,000 good-paying construction jobs and 5,100 operations jobs when they are at full capacity.
LPO is offering the conditional commitment through the Advanced Technology Vehicles Manufacturing (ATVM) program, which provides loans to support U.S. manufacturing of light-duty vehicles, qualifying components, and materials that improve fuel economy. This would be LPO’s first loan exclusively for a battery cell manufacturing project under ATVM. Financing from the ATVM program complements the historic investments
LPO notes that the EV market is expected to grow substantially in the coming years. According to BloombergNEF, plug-in vehicle sales are expected to grow from 6.6 million in 2021 to 20.6 million in 2025. The rising demand for EVs increases the need for EV batteries, with BloombergNEF forecasting demand to exceed 580GWh in America by 2030.
LPO is supporting the National Blueprint for Lithium Batteries, which offers a vision for the United States and its partners to establish a secure battery materials and technology supply chain that supports long-term economic competitiveness in America and enables equitable job creation and decarbonization. The former President along with the Republican party were and still are rejecters that Global Warming is real with substantial money from petroleum interests.