Ford closes a $9.63 billion DOE loan to supercharge 3 EV battery factories

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Ford closes a $9.63 billion DOE loan to supercharge 3 EV battery factories

Electrek12-20

Photo: BlueOval SK In a significant boost for the US EV industry, Ford’s joint venture, BlueOval SK, has closed a $9.63 billion loan from the Department of Energy’s (DOE) Loans Programs Office. ...

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","collect":0,"end_time":0,"defaultTopTitle":"electrek.co","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4555":"新能源车","BK4574":"无人驾驶","BK4099":"汽车制造商","BK4585":"ETF&股票定投概念","BK4516":"特朗普概念","F":"福特汽车","BK4588":"碎股"},"translate_title":"福特完成了美国能源部向supercharge 3家电动汽车电池工厂提供的96.3亿美元贷款","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"F":1},"content_text":"Photo: BlueOval SK\t\t\t\n\nIn a significant boost for the US EV industry, Ford’s joint venture, BlueOval SK, has closed a $9.63 billion loan from the Department of Energy’s (DOE) Loans Programs Office. \n\nThe DOE loan will go toward the construction of three state-of-the-art battery manufacturing plants – one in Tennessee and two in Kentucky – as Ford scales up its EV supply chain and pushes for more domestic battery production.\nThese plants, a cornerstone of Ford’s EV expansion, are expected to churn out more than 120 gigawatt-hours of batteries annually once fully operational. To get these factories off the ground, more than 5,000 construction jobs were created, and when the facilities open, they’ll provide up to 7,500 new operations jobs.\nBlueOval SK – a partnership between Ford and Korean battery manufacturer SK On – will supply batteries for Ford’s next-generation electric Ford and Lincoln vehicles. \nThe DOE’s investment is the largest ever awarded through its Advanced Technology Vehicles Manufacturing (ATVM) program. It underscores the Biden administration’s focus on strengthening domestic EV manufacturing while reducing reliance on overseas battery suppliers.\nThe effort aligns with the goal to make half of all new vehicles sold in the US zero-emission by 2030. Expanding domestic production creates new economic opportunities for American workers and meets the growing demand for EVs. Today, Cox Automotive reported that In November, new EV sales reached 116,072 units, marking a 10% increase month-over-month and a 13.6% increase year-over-year.\nAs part of the loan’s conditions, BlueOval SK has to ensure that there is a benefit to local communities, so it’s partnered with Tennessee College of Applied Technology and Kentucky’s Elizabethtown Community and Technical College to train future employees. These initiatives aim to equip the workforce with the skills needed for high-quality, future-proof jobs.\nThe DOE’s recent loans – part of a broader strategy to shore up the EV supply chain – have supported everything from critical mineral processing to battery recycling. This latest investment in BlueOval SK highlights the Biden administration’s commitment  – right to the very end of its four-year term – to scaling clean energy technologies domestically.\n\n\nIf you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them.\nYour personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}