Ford, SK joint venture set to receive $9.2B U.S. loan for battery plants

blue oval city-main_i.jpg — A rendering of Blue Oval City in Tennessee. (Ford Motor Company)

DS

By:

DAVID SHEPARDSON

R

By:

Reuters

|

June 22, 2023 01:27 PM

WASHINGTON — The U.S. Energy Department on Thursday said it intends to loan a joint venture of Ford Motor Co. 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.

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