Granholm back in MI to announce $2.5 B battery loan
A two-point-five billion dollar federal loan sealed the deal to bring new automotive battery production to the U.S.
The deal brings together General Motors and LG Energy Solution, the US Department of Energy and the United Auto Workers union.
The venue for the announcement was the Automotive Hall of Fame, where Energy Secretary and former Michigan Governor Jennifer Granholm said the loan will help ensure the new generation of electric vehicles are U-S-made and not offshored.
“This is bringing manufacturing back and bringing future manufacturing to this country.”
The conditions of the loan include three new US battery plants. One will be in Lansing. Also, the contracts will be bargained with the United Auto Workers with a guarantee of union-scale wages.