DOE lends $2.5 billion to GM, LG three way partnership to construct three lithium-ion battery vegetation

By Chris Crowell December 12, 2022

The basis of the subsequent wave of home battery manufacturing is beginning to take form. American Battery Factory and FREYR Battery each just lately introduced gigafactories for cell manufacturing. This week, Ultium Cells, a three way partnership between General Motors and LG Energy Solution, introduced its plans, aided by an enormous federal mortgage.

The U.S. Department of Energy (DOE), by its Loan Programs Office (LPO), closed a $2.5 billion mortgage to Ultium Cells LLC to assist finance the development of recent lithium-ion battery cell manufacturing amenities in Ohio, Tennessee, and Michigan. Ultium will handle battery cell manufacturing on the three amenities and create roughly greater than 11,000 jobs— 6,000 in development jobs and 5,100 in operations.

In October, President Biden launched the American Battery Materials Initiative alongside $2.8 billion in grants from DOE to construct out the battery mineral and materials provide chain. This newest mortgage closing will straight help the President’s objectives to succeed in internet zero emissions by 2050 and having EVs make up half of all new car gross sales by 2030.

“DOE is flooring the accelerator to build the electric vehicle supply chain here at home—and that starts with domestic battery manufacturing led by American workers and the unions that support them,” mentioned U.S. Secretary of Energy Jennifer M. Granholm. “This loan will jumpstart the domestic battery cell production needed to reduce our reliance on other countries to meet increased demand and support President Biden’s goals of widespread EV adoption and cutting carbon pollution produced by gas-powered vehicles.”

In July, LPO introduced a conditional dedication for the mortgage to Ultium Cells to fabricate giant format, pouch-type cells that use a state-of-the-art chemistry to ship extra vary at much less value. Those cells could be organized in numerous combos to offer clear, dependable energy for all automobiles on the street immediately, together with pickups, SUVs and different household automobiles, as nicely luxurious automobiles and business automobiles.

Ultium Cells plans to make use of this know-how in coordination with GM’s work to remove 100% of tailpipe emissions from its new U.S. light-duty automobiles by 2035. This additionally helps GM’s plans to put in capability to provide multiple million EVs yearly in North America and make its international merchandise and operations carbon impartial by 2040.

This is LPO’s first closed mortgage solely for a battery cell manufacturing mission below the Advanced Technology Vehicles Manufacturing (ATVM) program.

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