The U.S. Department of Energy (DOE) has committed to providing a conditional loan of up to USD9.2bn to Ford and SK Innovation's joint venture, BlueOval SK. The loan will support the construction of new battery plants that will supply Ford and Lincoln electric vehicles (EVs). This is the largest loan ever granted by the DOE's Loan Programs Office and aligns with the Biden administration's goals of boosting domestic clean energy manufacturing, promoting zero-emissions vehicles, and achieving a carbon-free power sector by 2035.

Source:  ESGToday