Skip to main content

Lithium-ion battery

See All Stories

Biden gives GM and LG a $2.5B loan to build 3 battery factories in 3 states

The Biden administration today announced that it’s closed a $2.5 billion loan for Ultium Cells, a joint venture between GM and South Korean battery maker LG Energy Solution. The loan will go toward financing the construction of new lithium-ion battery cell factories in Ohio, Tennessee, and Michigan.

Expand Expanding Close

This US company says it can process mineral components for EV makers ‘in months’

US minerals

In order to qualify for the $7,500 tax credit, the Biden administration’s Inflation Reduction Act (IRA) requires a proportion of battery minerals in EVs to be extracted or processed in the US or free-trade partner countries. But a lot of automakers simply aren’t prepared for that requirement.

Electrek spoke with Megan O’Connor, cofounder and CEO of Nth Cycle, a Beverly, Massachusetts-based metals processing tech company, about how her company can help EV manufacturers address this challenge quickly.

Expand Expanding Close

Manage push notifications

notification icon
We would like to show you notifications for the latest news and updates.
notification icon
You are subscribed to notifications
notification icon
We would like to show you notifications for the latest news and updates.
notification icon
You are subscribed to notifications