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GM joint venture gets $2.5 billion government loan to help build EV battery cell plants

General Motors' joint venture with LG Energy Solution is on track to receive a multibillion-dollar loan from the U.S. government to build battery cell plants for electric vehicles, including one going up in Lansing.

On Monday, the Department of Energy announced "a conditional commitment" for $2.5 billion to GM and LG's 50-50 joint venture called Ultium Cells LLC. 

"While this conditional commitment demonstrates the Department’s intent to finance the project, several steps remain, and certain conditions must be satisfied before the Department issues a final loan," the DOE said in a blog posted Monday.

Read the Detroit Free Press article


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