US Department of Energy grants Ford $9.2B loan for EV battery production

  • The loan will help build three battery factories as part of a joint venture with South Korean firm SK On.
  • Two plants will be located in Kentucky, one in Tennessee, supporting Ford’s aim of rolling out two million EVs by 2026.
  • The investment will create 5,000 construction jobs and 7,500 operation jobs, aligning with the Biden-Harris administration’s green energy goals.
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