Ford, SK joint venture set to receive $9.2 billion US government loan for battery pla

[admin]

The U.S. Energy Department on Thursday said it intends to loan a joint venture of Ford Motor and South Korean battery maker SK On up to $9.2 billion to help finance construction of three new battery manufacturing plants in Tennessee and Kentucky. The conditional commitment for the low-cost government loan for the Blue Oval SK joint venture comes from the government's Advanced Technology Vehicles Manufacturing (ATVM) loan program.