The Department of Energy’s Advanced Technology Vehicles Manufacturing program, which famously helped put Tesla on the map, is set to hand out its first loan in over a decade. The department will announce a $2.5 billion loan to a joint venture of General Motors and LG Energy Solution to help fund the construction of a new lithium-ion battery manufacturing facility, the company confirmed. (The news was first reported by Reuters.)
The Advanced Technology Vehicles Manufacturing, or ATVM, program, has attained almost mythical status in the EV startup world thanks to its timely $465 million loan to Tesla, which is credited with helping save the company from an early death. Since then, a numberof cash-strapped EV startups have also requested...
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Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.