{"id":38126,"date":"2022-12-13T00:03:52","date_gmt":"2022-12-13T05:03:52","guid":{"rendered":"https:\/\/autosector.com\/?p=38126"},"modified":"2022-12-13T00:03:52","modified_gmt":"2022-12-13T05:03:52","slug":"1138120_doe-loan-battery-venture-backs-gm-ultium-ev-plan","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=38126","title":{"rendered":"$2.5B DOE loan backs GM’s Ultium EV plan"},"content":{"rendered":"

The U.S. Department of Energy confirmed<\/a> Monday morning a $2.5 billion federal loan to Ultium Cells LLC, for financing the construction of plants to supply many millions of future GM electric vehicles.\u00a0<\/p>\n

The loan will fund the construction of joint-venture GM and LG Energy Solution battery plants in Ohio, Tennessee, and Michigan, and the confirmation follows a conditional commitment<\/a> announced in July.\u00a0<\/p>\n

<\/p>\n

Three plants covered by the loan will be making the large-format, pouch-type cells used for a range of vehicle sizes and types\u2014from family vehicles to luxury models and commercial vehicles.\u00a0<\/p>\n

\"2024<\/p>\n

2024 Chevrolet Equinox EV<\/p>\n<\/div>\n

For instance, these cells will be used in the upcoming 2024 Chevy Equinox EV<\/a>, but they\u2019ll also be featured in the 2024 Cadillac Celestiq<\/a> flagship as well as the Chevrolet Silverado EV<\/a>\u00a0pickup truck. And they\u2019re already installed into the GMC Hummer EV<\/a>, Cadillac Lyriq<\/a>, and GM\u2019s BrightDrop electric vans. GM has surely teased other Ultium vehicle types\u2014including a coupe-like model with Camaro cues.<\/p>\n

According to the DOE, these cells will use \u201ca state-of-the-art chemistry to deliver more range at less cost.\u201d For now, that means an NCMA (nickel cobalt manganese aluminum) chemistry that aims for a long service life\u2014although GM has suggested it\u2019s looking to add a lithium-metal cell for longer range EVs<\/a> later in the decade.<\/p>\n

\"General<\/p>\n

General Motors Ultium batteries<\/p>\n<\/div>\n

With all three plants, GM has said that it expects more than 130 gigawatt-hours annually when fully ramped up, and to support more than 1 million EVs annually by mid-decade. Earlier this month, Ultium Cells announced plans to ramp up cell output to 50 gigawatt-hours at its Spring Hill, Tennessee, plant when it\u2019s fully operational\u2014up from the previous 35 gigawatt-hours.\u00a0<\/p>\n

The announcement marks the DOE\u2019s first loan made exclusively for battery cell manufacturing made under the federal government\u2019s Advanced Technology Vehicle Manufacturing (ATVM) program, which was established under the George W. Bush administration to provide low-interest loans to help companies make vehicles with substantially higher energy efficiency than those they replace.\u00a0<\/p>\n

\"UAW-made<\/p>\n

UAW-made sticker on 2022 Chevy Bolt EV<\/p>\n<\/div>\n

The program also requires that the project must operate entirely in the U.S.\u2014which might rule out the political eyesore of a fourth Ultium battery plant in Mexico, at least in this battery format. A smaller Ultium format for affordable compact cars<\/a> is currently in the works with Honda. That will form the basis for a successor to the Chevy Bolt EV<\/a>, among other models.\u00a0<\/p>\n

Although most of these loans have related to electric or electrified vehicle tech, the largest of these loans so far\u2014$5.9 billion\u2014went to fund Ford\u2019s \u201cEcoBoost\u201d push to smaller turbocharged gasoline engines, while Tesla is broadly seen as the loan program\u2019s greatest success.<\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. Department of Energy confirmed Monday morning a $2.5 billion federal loan to Ultium Cells LLC, for financing the construction of plants to supply many millions of future GM electric vehicles.\u00a0 The loan will fund the construction of joint-venture GM and LG Energy Solution battery plants in Ohio, Tennessee, and Michigan, and the confirmation […]<\/p>\n","protected":false},"author":1,"featured_media":38127,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-38126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-cars"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/38126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=38126"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/38126\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/38127"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38126"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}