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.