The U.S. Department of Energy loans $7.54 billion for two electric vehicle battery plants in Indiana.

The U.S. Department of Energy has agreed to loan $7.54 billion to Stellantis and Samsung SDI for building two electric vehicle battery plants in Kokomo, Indiana. The StarPlus Energy project plans to produce enough batteries for about 670,000 vehicles annually, with the first plant opening in early 2025. The loan aims to boost EV manufacturing in North America and create thousands of jobs, subject to meeting certain conditions.

December 02, 2024
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