Biden administration announces $2B loan for electric vehicle battery manufacturing

Published February 9, 2023

By: Rachel Frazin

Source: The Hill

The Biden administration on Thursday announced that it would issue a $2 billion loan to a battery manufacturing facility as it looks to bolster the country’s supply chain for electric vehicles.

“The Department of Energy is proud to announce a conditional commitment for a $2 billion loan to Redwood Materials,” Energy Secretary Jennifer Granholm said on Thursday during a press conference.

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