{"id":15237,"date":"2022-12-15T07:57:58","date_gmt":"2022-12-15T12:57:58","guid":{"rendered":"https:\/\/latamobility.com\/?p=15237"},"modified":"2022-12-15T07:58:06","modified_gmt":"2022-12-15T12:58:06","slug":"general-motors-receives-2-5-billion-to-build-three-battery-factories","status":"publish","type":"post","link":"https:\/\/latamobility.com\/en\/general-motors-receives-2-5-billion-to-build-three-battery-factories\/","title":{"rendered":"General Motors Receives $2.5 Billion to Build Three Battery Factories"},"content":{"rendered":"\n
General Motors’<\/strong> strategy to become a 100% electric brand by 2025<\/strong> has received significant financial backing from the U.S. government.<\/p>\n\n\n\n Ultium Cells<\/strong>, the brand’s battery-focused division, which is partnered with battery giant LG Energy<\/strong>, will receive $2.5 billion to fund three lithium-ion battery production plants in Michigan, Ohio and Tennessee.<\/strong><\/p>\n\n\n\n The U.S. Department of Energy<\/strong> (DOE) granted the loan to the project, which is expected to create some 11,000 jobs. The financing is part of a government program to address the growing need for electric vehicle batteries.<\/p>\n\n\n\n Ultium Cells is focused on the future of the transportation industry and its impact on the world, both culturally and environmentally. According to General Motors’ vision, battery cells are an important step away from fossil fuels, but also have the potential to revolutionize passenger vehicles.<\/p>\n\n\n\n