G.M. and LG to Get $2.5B Loan From Energy Department to Build Battery Factories

  • The U.S. Energy Department said Monday that it would lend $2.5 billion to General Motors and LG Energy Solution to build battery factories, advancing the Biden administration’s plan to promote electric vehicles.
  • The loan, which is conditional on the companies’ meeting certain requirements, is the first in more than a decade by a government program that provided $465 million to help Tesla produce its first sedan, the Model S.

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