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Ultium, a joint venture with LG Energy Solution, is key for the automaker to increase its supply of batteries for its growing fleet of electric vehicles.
A slurry containing battery materials and a hazardous solvent leaked over the weekend, but Ultium Cells said no employees were exposed or injured in the spill.
The loan represents the largest made by the Biden administration related to EV manufacturing, and it will help finance construction of BlueOval SK battery plants in Kentucky and Tennessee.