Kent Nishimura / Los Angeles Times via Getty Images
The Department of Energy preliminarily approved another loan to help fund the construction of electric vehicle battery factories in the US. This time, a joint venture between Stellantis and Samsung SDI will receive $7.54 billion to build two EV battery plants in Kokomo, Indiana.
The project is expected to create 3,200 jobs, as well as 2,800 operations jobs at the plants and hundreds more at a nearby supplier park. The conditional loan commitment will provide $7.54 billion — $6.85 billion in principal and $688 million in capitalized interest — to ...
