The Department of Energy has preliminarily approved a substantial loan of $7.54 billion for a Stellantis and Samsung SDI joint venture to build two electric vehicle battery plants in Indiana, promising to create 3,200 jobs from the outset.
This loan under the Advanced Technology Vehicles Manufacturing program aims to bolster the EV battery industry in the U.S., which saw a revival under President Biden's administration following a lapse during Trump's tenure.
The new funding supports the growth of electric vehicle manufacturing in America, reflecting a significant commitment to job creation and energy technology development at a crucial time for the sector.
However, the loan's approval is under a looming deadline, as the potential policy reversal by the incoming Trump administration threatens to diminish or eliminate current EV funding initiatives.
Collection
[
|
...
]