Ford-SK venture to get USD 9.2 billion US loan for battery plants, ET Auto

The US Energy Department announced a low-cost government loan of up to $9.2bn to BlueOval SK, a joint venture between Ford Motor and South Korea's SK On, to fund the construction of three battery plants in Tennessee and Kentucky. The joint venture is building two battery manufacturing plants in Kentucky and one in Tennessee, which are capable of collectively producing over 120 GWh each year, the Energy Department said.

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