December 15, 2022: The US Division of Vitality mentioned on December 12 that it closed a $2.5 billion mortgage to assist finance the development of three vegetation to make lithium battery cells by LG Vitality Answer and Common Motors’ Ultium Cells three way partnership.
The transfer follows a conditional dedication from the DOE’s Loans Packages Workplace introduced on July 25 – and marks the primary such settlement completely for a battery cell manufacturing mission below the Superior Expertise program. Automobiles Manufacturing (ATVM), which the DOE says helps funding below Bipartisan. Infrastructure Legislation.
US power secretary Jennifer Granholm mentioned the funding from the DOE’s Loans Packages Workplace would jumpstart home battery cell manufacturing wanted to scale back dependence on different international locations.
Ultium unveiled plans on January 25 to take a position $2.6 billion to construct its third battery cell gigafactory in Lansing, Michigan, after work started on different gigafactories in Ohio and Tennessee.
Ultium cells use proprietary chemistry that includes LG Chem’s NCMA (nickel-cobalt-manganese-aluminum) cathode, which requires 70% much less cobalt than present NCM cells. The three way partnership says its batteries are “distinctive within the trade” as a result of the large-format, pouch-style cells might be stacked vertically or horizontally throughout the battery pack.
The DOE mentioned on November 16 it has allotted practically $74 million in funding for 10 tasks creating EV battery recycling and reuse applied sciences, resulting in second-use scale-up demonstrations which have combine end-of-life EV batteries into secondary purposes.
Pictured: Ultium Cells’ Tennessee plant. Picture: Common Motors
