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Energy and Environment

Ford secures $9.2 billion government loan for EV batteries, the largest since 2009 bailouts

By Breanne Deppisch
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Ford secures $9.2 billion government loan for EV batteries, the largest since 2009 bailouts

The Department of Energy is loaning Ford and its battery manufacturing partner $9.2 billion to finance the construction of three electric vehicle battery plants in Tennessee and Kentucky, a massive cash infusion meant to ramp up domestic battery manufacturing capabilities to compete with China.

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Biden Administration Department of Energy Electric Vehicles Ford Washington D.C.